SAIC

China's largest automaker SAIC Motor aims to sell more than 2.7 million new energy vehicles (NEVs) worldwide by 2025, accounting for at least 32 percent of its total sales.

By Thursday's close, the company's shares were down 12 percent this year. BYD, by comparison, rose 40 percent in the same period.

SAIC passenger vehicle branch's Roewe, MG and R brand sold more than 17,000 NEVs combined in August, up 390 percent year-on-year.

The Hongguang Mini EV offers 120km, 170km NEDC range options and are priced at RMB 37,600 ($5,820) and RMB 43,600 respectively.

SAIC sold about 260,000 units overseas in the first half, up nearly 100 percent year-over-year, the company said.

A wave of autonomous driving is sweeping China's auto industry, and commercial vehicles are being included.

SAIC's first-half net profit attributable to shareholders of the listed company was RMB 13.31 billion, up 58.61 percent year-over-year.

The KiWi EV, which has been available for pre-sale since August 11, is offered in two versions, a base version priced at RMB 69,800 ($10,766) and a premium version priced at RMB 78,800.

SAIC Group's car sales in July were 352,546 units, down 22.95 percent from 457,558 units a year ago, according to data released by the company Friday.

SAIC Group, China's largest local automaker, and smartphone giant OPPO signed a cooperation agreement on August 5, aiming to bring the cell phone experience into the car.