SHANGHAI, July 4 (Xinhua) — SAIC Motor, China’s main carmaker, plans to construct a plant in Europe, the corporate mentioned Tuesday.
Last yr, SAIC Motor’s gross sales within the European market surpassed 100,000 autos. With the rise in export quantity, establishing a manufacturing facility for localized manufacturing has turn out to be a precedence on the corporate’s agenda, mentioned Yu De, SAIC Motor president assistant and managing director of the worldwide enterprise division.
In the primary half of this yr, the Shanghai-based carmaker achieved abroad gross sales of 530,000 autos, a 40 p.c year-on-year development. The determine reached over 1.01 million models final yr and can possible exceed 1.2 million this yr.
The European market is anticipated to turn out to be the corporate’s first abroad regional market, with gross sales exceeding 200,000 models, in keeping with Yu.
SAIC Motor has three R&D innovation facilities in Silicon Valley, London, and Tel Aviv. It additionally has three design facilities in London, Munich, and Tokyo and operates 4 manufacturing bases and factories in Thailand, Indonesia, India, and Pakistan.