China's SAIC set to add 14 vehicle vessels to boost exports

SHANGHAI/BEIJING (Reuters) -SAIC Motor Corp plans to add 14 vehicle vessels in the next three years to its fleet of carriers as the state-owned Chinese automaker aims to boost sales in overseas markets, it said on Wednesday.

SAIC-owned Anji Logistics operates 31 carriers that have been shipping vehicles produced by Chinese automakers including Dongfeng, Yutong Bus and Great Wall Motor as well as SAIC's own brands to South East Asia, Mexico, South America and Europe, the company said.

SAIC, which sold 1.2 million vehicles out of China in 2023, aims to increase its sales in overseas markets to 1.35 million units in 2024, China's The Paper reported.

It aims to sell 1.5 million vehicles outside its home market in 2025, the newspaper said, citing Vice President of SAIC Motor International Zhao Aimin.

The automaker also plans global sales of its two premium electric vehicle brands, IM Motors and Rising Auto, the report said.

Chinese automakers including BYD, Chery Automobile and SAIC have been placing orders for vessels to counter rising shipping costs as they boost exports.

BYD's first chartered vehicle vessel has set sail from China's southern city of Shenzhen, carrying more than 5,000 electric vehicles to Europe, state media Xinhua reported on Tuesday.

SAIC Motor said last year it had begun selecting a site to build a plant in Europe to produce electric vehicles.

(Reporting by Zhang Yan, Brenda Goh and Beijing newsroom; Editing by Christopher Cushing and Barbara Lewis)