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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  SAIC Motor Corporation Limited    600104   CNE000000TY6

SAIC MOTOR CORPORATION LIMITED

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SAIC Motor : launches high-end smart BEV brand Zhiji Motor

12/02/2020 | 02:31am EST

China's largest carmaker SAIC Motor announced the launch of Zhiji Motor, a high-end smart electric vehicle brand, on Nov 26, aiming to shape it into an innovator in the field of intelligent vehicles.

Jointly invested by SAIC Motor, Shanghai Pudong New Area, and e-commerce giant Alibaba Group, Zhiji Motor secured over 10 billion yuan ($1.52 billion) in a recent round of financing, setting a record among auto tech startups in China.

It will focus on system and technological innovation and put more weights on user data intelligence. It will also use Pudong's resources and Alibaba's technological strength in the field of artificial intelligence and big data to empower itself.

Brand-new operating model integrating user data

As a user-oriented auto tech startup, Zhiji Motor will develop a brand-new operating model that seeks to benefit both users and enterprises.

In the future, data from users will become a core part of the value chain of Zhiji Motor for the development of new products. This means that users will become the driving force behind Zhiji Motor's entire business chain, which includes R&D, production, manufacturing, and marketing.

Data generated in daily use will be automatically processed by AI to promote product iteration and brand building. In this way, Zhiji Motor is expected to build a new operating model that enhances product and brand value by interacting with user data.

Making a breakthrough in smart car development

Zhiji Motor is committed to product and technological innovation. In light of an upsurge in content creation and instant sharing in the 5G era, it plans to develop its ECU controller to enable a high degree of customization and improve the driving experience.

It has already established a research institute focusing on smart mobility with global scientific and technological professionals. The institute will develop an international-level R&D system that involves data processing, smart driving, and aesthetic design.

At the same time, Zhiji Motor will cooperate with three masters in leading architecture, new media art, and cutting-edge art professionals to make auto designs more artistic in response to the rising demand of China's new generation of consumer groups.

Leveraging resources from three sides

With support from SAIC Motor, Pudong New Area, and Alibaba Group, Zhiji Motor is expected to become a global leader in the smart car industry.

SAIC Motor's more than 60 years of experience in car manufacturing, technical accumulation, complete auto parts system, global layout, sufficient capital reserves, and rich cooperation resources will provide a solid foundation for the development of Zhiji Motor.

Pudong New Area will make use of core technology resources such as artificial intelligence and computer chips, as well as the world-class high-tech industrial cluster at the Zhangjiang High-tech Park, to empower Zhiji Motor.

Alibaba will contribute user big data, Alibaba Cloud, and other advanced AI technology.

Disclaimer

SAIC Motor Corporation Limited published this content on 26 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2020 07:30:09 UTC


© Publicnow 2020
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Financials
Sales 2020 754 B 116 B 116 B
Net income 2020 22 273 M 3 437 M 3 437 M
Net cash 2020 42 329 M 6 532 M 6 532 M
P/E ratio 2020 13,4x
Yield 2020 3,31%
Capitalization 298 B 46 061 M 46 059 M
EV / Sales 2020 0,34x
EV / Sales 2021 0,28x
Nbr of Employees 216 360
Free-Float 22,3%
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Number of Analysts 25
Average target price 27,86 CNY
Last Close Price 25,70 CNY
Spread / Highest target 46,8%
Spread / Average Target 8,40%
Spread / Lowest Target -40,2%
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Xiaoqiu Wang President & Director
Hong Chen Chairman
Bai Ping Bian Chairman-Supervisory Board
Yong Wei Chief Financial Officer & Board Secretary
Bao Xin Jiang Member-Supervisory Board
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