On December 20, Zhou Yan, the general manager of SAIC’s MG brand, revealed that MG is set to introduce two new models in 2025: a compact pure – electric sedan and a large 5 – seater plug – in hybrid SUV. According to Zhou, both vehicles will feature “less British style and more Chinese characteristics” with the goal of “enabling Chinese cars to go global”.
At present, it remains uncertain whether these two models will be launched globally in addition to the Chinese market.
Earlier this month, Zhou stated on social media that one of MG’s new models to be launched next year will be equipped with semi – solid – state batteries. This new model could be either the sedan or the SUV.
Currently, MG’s model portfolio consists of the EXE181 electric hypercar, the Cyberster electric roadster, four sedans (MG5, MG6, MG5 Scorpio, and MG7), the MG4 EV hatchback, and three SUVs (MG One, MG ZS, and MG ES5). Moreover, according to overseas media reports, MG is expected to debut a 7 – seater SUV in the Australian market in 2025, named “MG QS”. This vehicle might be a sister model to the Roewe RX9 and is anticipated to adopt a 1.5T plug – in hybrid power system.
MG was founded in the UK in 1924. In 2005, it was first acquired by China’s Nanjing Automobile Group. Subsequently, in 2007, SAIC acquired Nanjing Automobile, and MG was officially integrated into SAIC, becoming a domestic Chinese brand.
Data indicates that MG’s sales in the global market are growing steadily. However, in contrast, its sales in the Chinese market are declining year by year. From 2019 to 2023, MG’s global annual sales were 298,000, 310,000, 470,000, 660,000, and 840,000 units respectively, ranking first in China’s single – brand automobile exports for five consecutive years, accounting for approximately 70% of SAIC’s overseas sales.
Conversely, MG’s domestic sales were 159,000, 80,000, 110,000, 180,000, and 100,000 units respectively. Specifically, in 2019, domestic sales accounted for 53.3% of MG’s global sales, but by 2023, this proportion had dropped to merely 11.9%.
Likewise, from 2019 to 2023, SAIC’s sales decreased from 6.238 million vehicles to 5.021 million vehicles. The sales in 2023 dropped by 28% compared to the peak of 7.052 million vehicles in 2018. In the Chinese domestic automobile market, joint – ventures and domestic brands are increasing their investment to compete for the limited market share, particularly in the new energy vehicle (NEV) segment. In 2023, SAIC released the “Three – Year Action Plan for the Development of NEVs”, aiming to achieve annual sales of 3.5 million NEVs by 2025.
Will MG’s gradual electrification transformation help reverse the declining sales trend?
