China’s largest automobile manufacturer, SAIC (Shanghai Automotive Industry Corporation), is set to make significant waves in the Philippine market. SAIC will enter the market through SAIC Motor Philippines Incorporated, a company fully owned by SAIC with no local ownership. This information was revealed through the acquisition of their Articles of Incorporation filed with the Securities and Exchange Commission (SEC) by AutoIndustriya.
The newly formed SAIC Motor Philippines Incorporated will be headquartered in Bonifacio Global City in Taguig and will be overseen by SAIC’s operations in Hong Kong, specifically SAIC HK Limited. The company has 120,000 shares, each valued at P100 per share. SAIC HK Limited holds 119,997 common shares, while the remaining three shares are distributed among three key executives: Aimin Zhao, Chunxu Piao, and Zhijian Zhao. These executives, who hold international roles within SAIC, have been involved in various operations worldwide, such as SAIC Commercial in Mexico and SAIC in Germany.
Interestingly, the Articles of Incorporation do not mention any plans for manufacturing or assembly operations in the Philippines. Instead, the document focuses on importing, wholesale trading, marketing, and distributing vehicles powered by both traditional and new energy sources. This suggests that SAIC aims to bring not only internal combustion engined (ICE) vehicles but also hybrids and electric vehicles (EVs) to the market. The term “new energy sources” indicates a broad range of possibilities.
SAIC Motor has huge plans for the Philippines
SAIC Motor has confirmed that they will be setting up shop in the Philippines, as to what brand they will control is still all up in the air, with MG being the most probable.
Autodeal on May 26, 2023You are here:HomeLatest StoriesNewsSAIC Motor has huge plans for the Philippines
China’s largest automobile manufacturer, SAIC (Shanghai Automotive Industry Corporation), is set to make significant waves in the Philippine market. SAIC will enter the market through SAIC Motor Philippines Incorporated, a company fully owned by SAIC with no local ownership. This information was revealed through the acquisition of their Articles of Incorporation filed with the Securities and Exchange Commission (SEC) by AutoIndustriya.
The newly formed SAIC Motor Philippines Incorporated will be headquartered in Bonifacio Global City in Taguig and will be overseen by SAIC’s operations in Hong Kong, specifically SAIC HK Limited. The company has 120,000 shares, each valued at P100 per share. SAIC HK Limited holds 119,997 common shares, while the remaining three shares are distributed among three key executives: Aimin Zhao, Chunxu Piao, and Zhijian Zhao. These executives, who hold international roles within SAIC, have been involved in various operations worldwide, such as SAIC Commercial in Mexico and SAIC in Germany.
Interestingly, the Articles of Incorporation do not mention any plans for manufacturing or assembly operations in the Philippines. Instead, the document focuses on importing, wholesale trading, marketing, and distributing vehicles powered by both traditional and new energy sources. This suggests that SAIC aims to bring not only internal combustion engined (ICE) vehicles but also hybrids and electric vehicles (EVs) to the market. The term “new energy sources” indicates a broad range of possibilities.
The question remains as to which brand SAIC will work with in the Philippines. Currently, there are three SAIC-affiliated brands in the country: MG (Covenant), Volkswagen (Ayala), and Maxus (Ayala), each with independent importers/distributor partners. The Articles of Incorporation mention the intention to acquire any entity necessary for the business of SAIC Motor Philippines, signaling a potential shake-up in the market.
It is unlikely that Volkswagen will be the chosen brand, as the direction for VW in the Philippines is primarily influenced by Volkswagen Germany rather than SAIC-VW. This leaves Maxus as a strong possibility, given the connection between one of the directors and the brand. However, the most probable brand for SAIC to take on is MG.
In summary, SAIC’s entry into the Philippine market through SAIC Motor Philippines Incorporated signifies a major development. The company aims to import and distribute vehicles powered by both traditional and new energy sources, potentially including hybrids and EVs. The specific brand they will work with remains uncertain, but MG appears to be the frontrunner, with Maxus also being a contender. The market can expect significant changes and increased competition in the near future.
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