SAIC's Public Statement on the European Commission's Countervailing Duty Decision

Dear Global Customers, Partners and Media Friends:

We have noted the recent announcement by the European Commission to impose provisional countervailing duties on some Chinese electric vehicle manufacturers, including SAIC. SAIC hereby expresses its deep concern and regret over this decision.

As one of the world's leading automobile manufacturers, SAIC is committed to serving consumers around the world with innovative and high-quality products. We firmly believe that free trade and fair competition are the key to promoting global economic prosperity and sustainable development. We are deeply disappointed with the European Commission's decision. The relevant measures not only violate the principles of market economy and international trade rules, but may even have a greater negative impact on the stability of the global automotive industry chain and China-EU economic and trade cooperation.

We believe that the development of new energy vehicles is an important driving force in building a global green and low-carbon economy. Over the past decade, SAIC has invested nearly 150 billion RMB in R&D in core technologies such as new energy and intelligent Internet connection, and has obtained more than 26,000 valid patents. Relying on technological innovation rather than government subsidies, we are dedicated to providing green and environmentally friendly products to consumers in China and more than 100 overseas countries and regions. With the increasing sales of SAIC MG in the European market, we are planning to introduce China's new energy technologies and green factories to Europe. We hope to promote Sino-European cooperation in the field of new energy vehicles through positive initiatives, and jointly promote the global transition to a low-carbon economy.

We earnestly hope that the EU will listen carefully to the voices of Chinese and German automobile enterprises, resolutely avoid setting up artificial barriers to trade in new energy vehicles, and effectively maintain a fair and competitive market environment. We believe that only through open dialogue and cooperation can we overcome challenges and realize win-win situation.

In the future, SAIC will continue to maintain open communication and cooperation with its global partners. We will closely monitor the development of the situation and take all necessary legal and commercial measures to effectively protect our legitimate rights and interests and the interests of our global customers.
We call on the European Commission to carefully consider its decision and engage in constructive dialog with global automotive industry partners, including China, to jointly find solutions that promote fair competition and sustainable development.

Finally, SAIC would like to express our heartfelt thanks to all our customers, partners and media friends who have supported and trusted us. We will continue our efforts to make greater contributions to the green transformation of China's and the global automotive industry.

                                      Shanghai Automotive Group Corporation June 13, 2024