According to insider information, the SAIC co-owned IM brand is set to rebrand its models, including LS6, LS7, L6, and L7, as MG for sales in the European and South American markets. This transition aims to capitalize on MG’s global success and boost sales in overseas regions. Both MG and IM fall under the umbrella of SAIC, one of China’s leading automotive manufacturers.
IM Motors is the collaboration of SAIC Motor Corporation Group, Zhangjiang High-Tech Park, and Alibaba Group which is aimed at rivaling the likes of Tesla and Nio. SAIC is responsible for the production of the IM-branded vehicles.
MG, established in 1924 in Oxford, UK, holds a rich century-long history and is now owned by SAIC Motor Corporation. IM’s models are mid-sized vehicles with more luxury can also fill a gap in MG’s current line-up.
IM’s line-up:
IM L7 is the brand’s first model. It is a large sedan with dimensions of 5098/1960/1485 mm and a wheelbase of 3100 mm. Its top trim level has 4WD for 445 kW and a 90 kWh ternary NMC battery.
The IM LS6 is a mid-size fastback SUV with dimensions of 4904/1988/1669 mm and a wheelbase of 2950 mm. The top trim has 4WD for 396 kW and a 90 kWh ternary NMC.
IM LS7 is a larger SUV than the LS6 with dimensions of 5049/2002/1773 mm and a wheelbase of 3060 mm. It has 4WD for 425 kW and a 100 kWh ternary NMC.
IM L6 is the brand’s latest model that has yet to enter the Chinese market. Its dimensions are 4931/1960/1474 mm with a wheelbase of 2950 mm. Its performance variant has up to 579 kW. There are two battery options for the L6: 90 kWh and 100 kWh for 700-770 km range.
Currently, IM vehicles are exclusively available in Mainland China, the cumulative sales for 2023 reached 38,253 units. However, it lags significantly behind its primary competitors. In contrast, Tesla achieved sales exceeding 645,000 units in China throughout 2023, Xpeng delivered over 121,000 cars, and Nio successfully sold more than 160,000 EVs. The planned rebranding effort aims to strengthen IM model sales in Europe and South America.
MG’s global sales exceeded 840,000 units in 2023, marking its fifth consecutive year as the top Chinese automotive brand in terms of export volume, contributing to around 70% of SAIC Group’s overseas sales. MG’s success extended to 16 developed countries, including Western Europe and Australia, where sales reached nearly 380,000 units. Models like the MG4 EV, MG ZS, and MG5 consistently secured positions in the top ten of export lists. The MG4 EV, specifically, became the best-selling compact electric vehicle in Europe, surpassing 130,000 units in overseas sales, with monthly sales exceeding 10,000 units.
Recent years have seen various models from SAIC Roewe and SAIC-GM Wuling successfully exported by rebranding them as MG. The Roewe Ei5, was rebranded as MG5. The Wuling Air EV transformed into the MG Comet and MG Hector, achieving commendable sales in the Indian market.
The upcoming year, 2024, holds special significance as it marks the 100th anniversary of the MG brand. SAIC Group has set ambitious goals, targeting a global annual sales target of 1.35 million units in 2024.
With MG’s brand serving as a driving force, SAIC achieved overseas sales of 1.208 million units in 2023, reflecting an 18.8% year-on-year increase. This accomplishment secured SAIC’s position as the top Chinese automaker for eight consecutive years enabling China to surpass Japan and become the world’s leading exporter.
Source: Yiche
