Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  SAIC Motor Corporation    600104   CNE000000TY6

SAIC MOTOR CORPORATION

(600104)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Exclusive: GM's Cadillac will introduce EV in fight against Tesla - sources

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/10/2019 | 08:59pm EDT
Car manufacturers display their wares on the show floor of the North American International Auto Show in Detroit

WASHINGTON (Reuters) - Cadillac is expected to become General Motors Co's lead electric vehicle brand as the largest U.S. automaker gears up to introduce a new model under that luxury marquee to challenge Tesla Inc, two people briefed on the matter said Thursday.

GM is set to announce Friday as part of an investor update that a Cadillac will be the first vehicle based on its forthcoming "BEV3" platform, the people said. The vehicle platform is the basis for vehicle underpinnings, including the battery system and other structural and mechanical parts.

GM is not expected to disclose on Friday additional details, including precisely when the Cadillac EV will be built, whether it will be a crossover or sedan, or where it will be assembled, the sources said.

A GM spokesman declined to comment.

GM had previously focused on making electric vehicles under its mass market Chevrolet brand, including its plug-in Chevrolet Volt and battery electric Bolt. GM announced last year it was ending production of the plug-in Volt as well as a low-selling plug-in Cadillac CT6, even as it moved to boost EV spending.

GM said in November as part of its restructuring efforts it was doubling resources for electric and autonomous vehicle programs over the next two years.

Last month, two Ohio senators asked GM to commit to building all future electric vehicles for U.S. buyers within the country.

GM said in 2017 it planned by 2021 to introduce a new dedicated flexible electric vehicle architecture and an advanced battery system to support the development of at least 20 new models in the United States and China.

GM said in 2017 that a new electric vehicle platform in 2021 will serve as a base for at least nine derivatives, ranging from a compact crossover to a large seven-passenger luxury sports utility vehicle and a large commercial van.

Johan de Nysschen, who was then Cadillac's president, told Reuters at the Detroit auto show in January 2018 the luxury brand will play a "central role" in GM's electrification strategy, including China. He added that Cadillac would be "at the forefront" of rolling out new electric vehicles in the United States and China. He left GM in April.

This week, GM said Cadillac sales in China rose 17.2 percent in 2018, surpassing 200,000 units for the first time. GM Chief Executive Mary Barra has said that GM aims to sell 1 million electric vehicles a year by 2026, many of them in China, which has set strict production quotas on such vehicles.

Barra said in 2017 the company plans to introduce at least 10 new electric or hybrid vehicles to the Chinese market by 2020. GM opened a battery plant with Chinese partner SAIC Motor Corp Ltd last year.

In October, GM urged the Trump administration to back a nationwide program to boost sales of zero emission vehicles like electric cars, even as the government has proposed ending California's ability to require more clean vehicles.

(Reporting by David Shepardson; Editing by Richard Chang)

By David Shepardson

Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS CORPORATION -3.32% 37 Delayed Quote.10.61%
SAIC MOTOR CORPORATION -0.80% 26.17 End-of-day quote.-1.09%
TESLA 2.00% 273.6 Delayed Quote.-17.79%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SAIC MOTOR CORPORATION
03/14Audi says it is considering China joint venture stake increase
RE
03/12SAIC MOTOR : sees 17% sales decline
AQ
03/12SAIC MOTOR : sees 17% sales decline
AQ
03/12Volkswagen to unveil U.S. plan at end of first quarter, mulls further China s..
RE
03/12Volkswagen to unveil U.S. plan at end of first quarter, mulls further China s..
RE
03/08SAIC CHIEF : NEV sector needs more support
AQ
02/20SAIC MOTOR : SIPG unveils jersey for 2019 CSL
AQ
02/16SAIC MOTOR : Auto Class Cars to provide United Car Rentals with 60 MG 360 and MG..
AQ
02/05China's CATL, Honda plan to co-operate on EV battery development
RE
02/04SAIC MOTOR : recalls vehicles
AQ
More news
Financials (CNY)
Sales 2018 927 B
EBIT 2018 35 594 M
Net income 2018 36 502 M
Finance 2018 95 473 M
Yield 2018 7,03%
P/E ratio 2018 8,45
P/E ratio 2019 8,01
EV / Sales 2018 0,23x
EV / Sales 2019 0,21x
Capitalization 308 B
Chart SAIC MOTOR CORPORATION
Duration : Period :
SAIC Motor Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SAIC MOTOR CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 30,4  CNY
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Zhi Xin Chen President, Director & Deputy Party Secretary
Hong Chen Chairman
Baiping Bian Chairman-Supervisory Board
Yong Wei Chief Financial Officer & Board Secretary
Xin Ping Cao Head-Commercial Vehicle Technology
Sector and Competitors
1st jan.Capitalization (M$)
SAIC MOTOR CORPORATION-1.09%46 145
MARUTI SUZUKI INDIA-10.61%29 427
FERRARI33.15%24 805
FIAT CHRYSLER AUTOMOBILES2.87%23 094
BYD COMPANY LIMITED--.--%20 942
GUANGZHOU AUTOMOBILE GROUP CO LTD19.95%16 263