SAIC Motor Shares Climb on Autonomous Driving Progress and Policy Support

Shares of SAIC Motor Corp. (600104.SS) rose by 5% on Friday, buoyed by investor optimism following key advancements in the company's autonomous driving and mobility service operations, as well as favorable new government policy.

Key Operational Catalysts

SAIC demonstrated significant progress in its high-tech vehicle initiatives. The company's premium electric vehicle brand, IM Motors, released a video on September 8 showcasing a test vehicle navigating urban streets in Shanghai entirely on its own, notably without a steering wheel.

In a concurrent development, SAIC's mobility division, EnjoyGo, expanded its reach by launching ride-hailing services across 10 new cities on Friday. This move not only increases the company's market presence in mobility but also builds essential infrastructure for the potential future deployment of robotaxi fleets.

Government Policy Boosts Sector

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Investor sentiment was further lifted by the Chinese government's release of the 15th Five-Year Plan for the Intelligent Connected New Energy Vehicle Industry. The national plan signals strong official support for the sector's growth.

The policy explicitly calls for the scaled deployment of autonomous driving technology across a wide range of applications, including:

• Passenger vehicles
• Public buses
• Logistics and freight
• Urban delivery services

This government-led initiative creates a supportive regulatory and commercial environment, providing a significant tailwind for companies like SAIC that are investing heavily in autonomous and connected vehicle technologies.