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            SAIC MOTOR

            SAIC Motor delivers 2.12 million vehicles in first half of the year

            SAIC Motor continued to lead the Chinese auto industry in the first half of this year, with a vehicle deliveries totaling 2.12 million units, according to its production and sales report released on July 5.

            The New Triad of Growth Drivers — comprising self-owned brands, new energy vehicles (NEVs), and overseas markets — continues to drive the company's strong performance. From January to June, the terminal deliveries of its self-owned brands reached 1.26 million units, accounting for 59 percent of the company's sales; NEV terminal deliveries reached 522,000 units, a year-on-year increase of 29.5 percent; and terminal deliveries to the overseas markets hit an industry-leading 554,000 units, a year-on-year increase of 13.9 percent.

            Since 2018, SAIC Motor's annual sales of NEVs have soared from 142,000 units to 1.12 million, a seven-fold increase, ranking in the top camp in global NEVs sales; annual sales to the overseas market have surged from 277,000 units to 1.2 million units, an over-three-fold increase, maintaining the top position among Chinese car companies in overseas sales; and the proportion of sales of self-owned brands has risen from 39.5 percent to 55.3 percent, surpassing half of SAIC Motor's overall sales. Based on the strong momentum of the New Triad of Growth Drivers (self-owned brands, NEVs, and overseas markets), SAIC Motor is accelerating the construction of a new development pattern, transforming from joint ventures to self-owned brands, from fuel vehicles to electric vehicles, and from the domestic market to overseas markets.

            NEV sales are growing rapidly. From January to June, SAIC Motor's terminal deliveries of NEVs reached 522,000 units, a year-on-year increase of 29.5 percent, ranking second among Chinese car companies in terms of sales volume. Among these sales, in June, terminal deliveries for SAIC IM Motors exceeded 6,000 units, entering the top tier of new power brands. Its total terminal deliveries in the first half of the year reached 22,000 units, a year-on-year increase of 135 percent. From January to June, SAIC Motor Passenger Vehicle terminal deliveries reached 128,000 units, maintaining stable growth. The Roewe and MG brands recently jointly launched the "Super Safety Battery Commitment" in China, which includes the industry's highest standard of "zero combustion guarantee" for batteries, and a "lifetime warranty for battery, motor, and electronic control systems" regardless of mileage and the number of owners. SAIC Volkswagen, while maintaining its market share in fuel vehicles, achieved a rapid increase in its market share of NEVs, with terminal deliveries of NEVs reaching 57,000 units from January to June, a year-on-year increase of 48 percent. The ID family continued to sell more than 10,000 units per month, firmly holding the title of the best-selling EV from joint ventures in the first half of the year; SAIC-GM's terminal deliveries of NEVs exceeded 47,000 units, a year-on-year increase of 85.1 percent; and SAIC-GM-Wuling's terminal deliveries of NEVs achieved 249,000 units, a year-on-year increase of 32.2 percent.

            Overseas market sales are steadily increasing. From January to June, SAIC Motor's terminal deliveries to the overseas market reached 554,000 units, a year-on-year increase of 13.9 percent, continuing to lead among Chinese car companies. In the European market, SAIC Motor's MG has successfully surpassed Tesla, entering the top 20 brands in sales.

            Despite the impact of the Red Sea Crisis and EU anti-subsidy tariffs since the beginning of this year, terminal deliveries of MG brand in the European market still exceeded 120,000 units from January to June. MG's success in Europe relies on its industry-leading intelligent electric innovation technology, rather than so-called government subsidies. Moving forward, SAIC Motor will actively defend itself, safeguarding its lawful rights and interests as well as the benefits of global customers.

            Joint venture to co creation. As the global automotive industry accelerates into the new era of electrification and intelligence, and with the strong rise of Chinese NEVs, joint ventures and cooperation in China's automotive industry have transformed from "import technology" to "joint technological innovation" and entered a new stage of "made in China, for China".

            On May 20, SAIC Motor signed a cooperation agreement with Audi to jointly develop multiple high-end intelligent NEVs for SAIC Audi and co-develop the Advanced Digitized Platform. On June 27, SAIC Motor also signed a new product technology cooperation agreement with Volkswagen to jointly develop three plug-in hybrid models and two pure electric models. Relying on the world's top intelligent electric technologies, SAIC Motor will collaborate with partners to achieve "technological empowerment", and jointly support joint ventures in building new core capabilities, exploring new markets, and creating new mobility lifestyles.

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