SAIC expects sales to hit 120,000 units in Europe

China's largest carmaker SAIC expects its sales in Europe to hit up to 120,000 units this year, which will mark at least a 70 percent rise from its overseas deliveries in 2021.

SAIC, a Chinese partner of Volkswagen and GM, announced the goal on Thursday. The carmaker's overseas sales goal stands at 800,000 units this year.

The company said Europe will become the first overseas market where SAIC's annual sales would exceed 100,000 units.

Last year SAIC sold around 70,000 vehicles in Europe, mainly those bearing its MG and Maxus marques.

The carmaker said it would unveil a new vehicle designed for the European market this year, which will be the carmaker's first model for the global market.

SAIC's vehicles are now sold in over 80 regions and countries across the globe, said Yu De, managing director of SAIC's international business department.

Besides Europe, the Middle East, Australia and New Zealand, ASEAN countries and India are among SAIC's major markets, where its sales are more than 500,000 units a year.

Last year, SAIC's overseas deliveries reached 697,000 units, up 78.9 percent from the previous year. It has been the largest vehicle exporter for six years in a row.

Yu said currently around one-third of SAIC vehicles sold overseas are produced outside of China and two-thirds are exported from the carmaker's Chinese plants.

He expects half of them to made at SAIC's overseas production facilities by the end of 2025, when its sales in international markets will reach 1.5 million units.

But the carmaker is beefing up its transport capabilities as well. Last month, it announced that it is adding two vessels into its logistics arm Anji.

The two vessels, which will each load 7,600 vehicles, will be ready by 2024. Powered by liquified natural gas, they can sail for 70 days without refueling, enough to last the round trip between China and Europe, SAIC said.

Anji now runs a fleet of 31 vessels, including river vessels and sea-tankers in China and ocean-going carriers for overseas routes.