One of China's largest automakers is set to establish a NEV dedicated brand toughening the industry's competition.
SAIC ROEWE at the 2020 Beijing Auto Show. Image credit: SAIC
Tesla's positive sales have allowed the outside world to believe in high-end new energy brands' market potential. It was recently reported that SAIC Motor is set to develop and promote a high-end new energy vehicle brand, code-named 'L.'
According to the local media report, the 'L' project will be under the leadership of Chen Hong, chairman of SAIC Motor, citing a person briefed on the matter.
This project will develop into an independent company rather than being directly run by the state-owned company. Apart from SAIC Motor, the yet-to-to-launched brand is expected to introduce more investors. Focusing on upscale, intelligent vehicles, the ‘L’ brand is dedicated to developing "a super central computer on wheels" with its vehicle products covering different segments.
Going upscale seems to be a popular method for Chinese indigenous auto brands to complete a transition. On May 10, Roewe brand of SAIC Motor officially released its dual logo strategy, which includes an updated lion logo and a new 'R' logo, focused on mid-/high-end new energy vehicle models, a new retail business model and intelligent EV technologies.