SGMW announces foray into HEV field
SAIC-GM-Wuling (“SGMW”), General Motors' joint venture with Chinese partners SAIC Motor and Guangxi Automobile Group, on July 14 announced its foray into the HEV (hybrid electric vehicle) field by virtue of its advantages in the integrated ecosystem of NEV core component supply chain and the in-house development capability of batteries, electric control units, and chips.
According to the company's press release, SGMW has planned out both HEV and PHEV (plug-in hybrid electric vehicle) routes. Considering most users' application scenarios, the company decided to launch HEVs first, in a bid to offer users proper solutions when the charging network deployment is not enough to completely solve range anxiety.
In the second half of 2022, SGMW plans to roll out the HEV versions of the Wuling Victory and the Wuling Asta, which are expected to carry a hybrid system with a 2.0-liter engine.
China's Ministry of Industry and Information Technology ("MIIT") has released the performance figures of the Wuling Asta HEV, which will be equipped with a 2.0-liter turbocharged engine that churns out 100kW and uses ternary-lithium batteries.
SGMW last week said its monthly sales exceeded 120,000 units in June 2022, jumping 29% from the previous year. Of the new vehicles sold last month, 49,450 units were new energy vehicles ("NEV"), representing a 62% year-on-year leap.
