SAIC
The MG S5 will replace the smaller ZS in the Chinese brand's lineup when it launches in Europe this spring. It rides on the same platform as the MG4 compact hatchback.
The partnership adds another state-owned automaker betting on Huawei, which has risen to prominence as a supplier of smart driving technologies, to boost EV sales.
The average price reduction required for customers to consider switching to a Chinese automaker is 27 percent, a new study found.
China in the past delivered $2 billion a year in income for GM, though executives say those results won’t be matched anytime soon, if ever again, despite restructuring moves.
Excluding non-recurring gains, China’s largest automobile manufacturer before BYD surpassed it in 2024, said it would have tumbled into the red last year, with a loss of up to 6 billion yuan.
Combined registrations for MG, Smart, Polestar, Great Wall Motors and BYD fell by 24 percent last year. The decline was due to high prices and low brand recognition.
GM's sales in China fell 14 percent to just over 1.8 million in 2024, extending a slide that began in 2018, though electrified vehicle deliveries rose 50 percent, accounting for nearly half of its volume last year.
China's worldwide EV exports fell 19 percent in November from a year earlier, according to Chinese customs data, including a 23 percent drop to the EU.
The deal between the two major automakers comes at a time when VW is striving to reverse a decline in China sales and the market continues a sharp pivot to electrified vehicles.
The EU’s latest EV tariffs vary by manufacturers, with SAIC subject to the highest new rates.
