SHANGHAI -- China's largest automaker, SAIC Motor, wants to triple its overseas auto sales to 1 million units by 2025, a senior company official said on Wednesday, as more Chinese auto manufacturers seek sales growth globally.
The Shanghai-based company, which sold around 7 million vehicles last year with its own brands and joint ventures with Volkswagen and General Motors, makes up just under a quarter of China's auto market, the world's largest.
"SAIC's overseas sales would hit 350,000 units this year and we will strive to sell more than half a million next year," Yu De, deputy president of SAIC told reporters in Shanghai. "By 2025, we aim to have a market size of 1 million units a year."
"We will systematically plan our overseas operations, from supply chain to logistics," said Yu.
SAIC owns the MG brand, based in the UK.
SAIC Motor last month started producing the plug-in hybrid version of the MG HS compact crossover, at a new plant in Ningde, a city in east China coastal province of Fujian.
In the UK, the main export market for MG, SAIC also sells the MG3, MG ZS and MG GS through imports.
SAIC also builds MG brand cars in India and Wuling commercial vehicles in Indonesia with GM.
As China's overall market continues to decline after its first annual contraction last year since the 1990s, the company's sales also dropped 13.7 percent in the first ten months this year.
Automotive News China contributed to this report