China's SAIC set to add 14 vehicle vessels to boost exports

Expand the sales: SAIC Motor Corp has unveiled ambitious plans to expand its fleet of carriers by adding 14 vehicle vessels over the next three years. The move is part of the state-owned Chinese automaker's strategy to bolster sales in international markets. Anji Logistics, a subsidiary of SAIC, currently operates 31 carriers transporting vehicles from Chinese automakers like Dongfeng, Yutong Bus, Great Wall Motor, and SAIC's own brands to destinations in Southeast Asia, Mexico, South America, and Europe.

In 2023, SAIC achieved sales of 1.2 million vehicles outside China and now aims to increase this figure to 1.35 million units in 2024. The company has set an even more ambitious target of selling 1.5 million vehicles globally in 2025, according to reports citing Vice President of SAIC Motor International, Zhao Aimin.

Trend in the automotive industry

The automaker is not only focusing on traditional vehicles but also aims to expand the global sales of its premium electric vehicle brands, IM Motors and Rising Auto. This aligns with the broader trend in the automotive industry towards electric mobility.

SAIC's initiative follows similar actions by other Chinese automakers like BYD and Chery Automobile, which have been chartering vessels to offset the rising costs of shipping as they ramp up their export activities. BYD, for instance, recently dispatched its first chartered vehicle vessel carrying over 5,000 electric vehicles to Europe from Shenzhen.

In addition to its global expansion in terms of vehicle sales, SAIC Motor revealed last year its plans to build a plant in Europe dedicated to electric vehicle production. This move aligns with the broader industry shift towards electric mobility and reflects SAIC's commitment to establishing a significant presence in the global electric vehicle market.

(with Reuters inputs)