SAIC-GM, the joint venture between General Motors (GM) and SAIC Motor Corporation in China, marked a significant milestone by delivering more than 100,000 electric vehicles (EVs) in 2023. This impressive figure represents a remarkable doubling of deliveries compared to the previous year.
The surge in EV deliveries for SAIC-GM continued in December, with 18,911 units handed over, reflecting a substantial 312% increase compared to the same period in the preceding year. SAIC-GM offers a range of EV models under GM's popular brands, including Buick, Chevrolet, and Cadillac.
The electric vehicle lineup in China includes the Buick Velite, Electra E5, and the Cadillac Lyriq. Notably, the Ultium-based Buick Electra E5 electric SUV and the Electra E4 were unveiled in 2022, contributing to the joint venture's success in the rapidly growing Chinese EV market.
Key sales figures for 2023 indicate that SAIC-GM achieved significant success with the Buick Velite, recording 45,538 units sold, while the Electra E5 saw deliveries of 35,129 units. The Cadillac Lyriq, introduced in December 2021, accounted for 5,400 units in the total EV sales.
SAIC-GM's strategy for continued growth involves launching eight electrified vehicles, including plug-in hybrid electric vehicles (PHEVs), within the next two years. The company operates dedicated EV production facilities in Shanghai and Wuhan, with plans to commence operations at its third factory in Yantai in the first half of 2025.
As part of its commitment to advancing the electric mobility ecosystem, SAIC-GM became the first automaker in China to gain access to Tesla's electric vehicle charging network. The move enhances charging infrastructure for Cadillac and Buick EV owners, aligning with the joint venture's broader goals amid the accelerating growth of the new energy vehicle (NEV) sector in China.