Analysis of Capacity Utilization of SAIC Volkswagen's New Energy Vehicles

Based on collected authoritative data and information, the following is a detailed analysis of the capacity utilization rate of SAIC Volkswagen’s new energy vehicles:

Indicator	2023	2024	Trend
Overall Capacity Utilization of MEB Plants	44%	52%	↑ Increased by 8 percentage points
Overall Capacity Utilization of SAIC Volkswagen	46%	58%	↑ Increased by 12 percentage points

: 2024 Annual Report of SAIC Motor and industry analysis reports [1][2][3]

• Designed Capacity
  : 300,000 units/year (officially put into production in 2020)
• Actual Output
  : Approximately 124,000 units in 2024
• Capacity Utilization Rate
  : Approximately 52%

• Investment Scale
  : Approximately RMB 8 billion
• Designed Capacity
  : 100,000 units/year
• Production Launch Time
  : Gradually put into production starting from 2024
• Feature
  : Realizes mixed-line production of MQB fuel vehicle platform and MEB electric vehicle platform

• Planned annual capacity of the new battery workshop at Changsha Plant:
  150,000 new energy battery sets
• Reserved capacity upgrade space

• The capacity utilization rate of MEB plants increased from 44% in 2023 to 52% in 2024, showing a steady upward trend
• This indicates that SAIC Volkswagen’s new energy vehicle production capacity is in a gradual ramp-up phase

Automaker	Capacity Utilization Rate	Description
BYD	>80%	Leader in new energy sector with the highest capacity utilization rate
BMW Brilliance	88%	Luxury brand with relatively high capacity utilization rate
GAC Toyota	94%	Best performer among joint-venture brands
Geely Auto	>70%	Fast new energy transformation with significant improvement in capacity utilization rate
Li Auto	Rapidly climbing	Outstanding performer among new power automakers
NIO	62%	Just rose to 62% in 2024
SAIC Volkswagen MEB	52%	Still has significant room for improvement
Industry Average	Approximately 60%	Overall level of the automotive industry

• The overall capacity utilization rate of China’s automotive industry has long hovered around 60%
• The 52% utilization rate of SAIC Volkswagen’s MEB plants is slightly lower than the industry average
• This reflects the challenges faced by traditional joint-venture automakers in new energy transformation

• Full-year terminal sales in 2025:
  1.06 million units
• Reached the “Million-Unit Club” scale
• The ID. family maintains a positive growth trend

• AUDI Brand
  : The first model, Audi E5 Sportback, was launched in 2025
• ID. ERA New Series
  : The first “Series 9 Flagship” concept car made its debut
• Passat ePro
  : Plug-in hybrid model added to the product line

• Plans to intensively launch
  7 all-new new energy products
• Starting from Q2 2026, “a new model will debut every month”
• The second model of the AUDI brand, E7X, will be released soon

• By maintaining its market advantage in fuel vehicles (annual sales of over one million units), it provides financial and time windows for new energy transformation
• The market share of fuel vehicles has steadily increased to 8.7%, reflecting a solid foundation

• Shifted from “technology introduction” to “in-depth integration”
• Realized localization of product definition rights, with development centered on Chinese users’ needs
• The improvement of MEB plants’ capacity utilization rate indicates that the transformation is taking effect

• The current 52% utilization rate means that nearly half of the production capacity is idle
• With the intensive launch of 7 new energy products in 2026, the capacity utilization rate is expected to improve significantly
• The mixed-line production mode of the Changsha Plant provides flexible capacity allocation capabilities

• Challenges
  : Facing fierce competition from local brands such as BYD, with sustained price war pressure
• Opportunities
  : Under the Joint Venture 2.0 model, Sino-German technology integration may bring differentiated competitive advantages

The capacity utilization rate of SAIC Volkswagen’s MEB plants increased from 44% in 2023 to 52% in 2024, indicating steady progress in its new energy transformation. However, this utilization rate still lags behind the industry average, reflecting the overcapacity pressure faced by traditional joint-venture automakers in electrification transformation. Through the advancement of the “Parallel Development of Fuel and Electric Vehicles, and Intelligentization of Both” strategy and the Joint Venture 2.0 model, SAIC Volkswagen is building the capability to smoothly transition from traditional fuel vehicles to new energy vehicles. With the intensive launch of multiple new energy products in 2026, the capacity utilization rate is expected to improve significantly, but the final effectiveness still needs to be verified by the market.

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[1] SAIC Motor 2024 Annual Report - MEB Plant Capacity Data (https://www.saicmotor.com/chinese/xwzx/xwk/2025/)
[2] S&P Global Ratings China - Top 5 Trends in the 2026 Automobile Manufacturing Industry Report (https://www.spgchinaratings.cn/upload/20251218_2026_Auto_Outlook (1).pdf)
[3] Gasgoo Auto - Domestic Passenger Vehicle Capacity Analysis (https://auto.gasgoo.com/news/202312/17I70374705C1213.shtml)
[4] The Beijing News - An Analysis of SAIC Motor’s Annual Report (https://m.bjnews.com.cn/detail/1711855070169580.html)
[5] SAIC Volkswagen Official Website - Company News and Capacity Layout (https://www.csvw.com/csvw-website/news/company-news.html)