SAIC Motor Appoints Eurokars Group as the Official Distributor of MG in Singapore
SAIC Motor Appoints Eurokars Group as the Official Distributor of MG in Singapore
Classic British car brand, MG, is back in Singapore
SINGAPORE, 21 October 2019 – Eurokars Group has been appointed as the official distributor of MG cars in Singapore.
Leading to this, Eurokars Group formed a new wholly-owned subsidiary – Eurokars EV Pte Ltd – which signed a Distributor Agreement for MG with the Shanghai-based Chinese automotive manufacturer, SAIC Motor Corporation Limited, the parent company of MG, on 14 October 2019. The agreement was signed by the Executive Chairman of Eurokars Group, Mr Karsono Kwee, and the Director of Overseas Market Department of SAIC Motor, Mr Lin Yong. Eurokars EV Pte Ltd will focus on retailing electric vehicles (EVs) for Eurokars Group in the long term.
The new MG distributorship will offer local consumers an appealing lineup of vehicle models including the MG HS (petrol); MG ZS (petrol) and EZS (electric); as well as the MG5 EV (electric) as a start, and will progressively introduce a pipeline of exciting new models in Singapore in due course.
“The ultimate aim is to offer the full range of MG models to car buyers in Singapore. We believe that the brand will be a viable motoring choice of the future among individuals who are environmentally conscious about their carbon footprint and unbound by conventions. Indeed, Eurokars Group sees the growing demand and popularity of electric vehicles, and believes that there is immense potential for sustainable mobility in Singapore. We admire MG’s strong motoring heritage and find its direction for plug-in hybrid and EV technology very relevant to the Singapore market. MG fits seamlessly with our current portfolio, and will enable us to harness burgeoning interest in EVs as well as contribute to the reduction of CO2 emissions through the use and adoption of eco-friendly cars,” says Mr Karsono Kwee, Executive Chairman of Eurokars Group.
MG is a well-established British brand which began with a vision in 1924. MG stands for Morris Garages, the name chosen by MG’s founder Cecil Kimber as a show of respect for his then boss, William Morris. Cecil’s vision to produce world-class sports cars quickly became a reality, and by the 1930s, MG cars were winning races across Britain and Europe. Early models set the benchmarks for their era in terms of light weight, power and dynamism. These three fundamentals have been at the core of MG, and today, MG is more than an iconic octagonal badge; it is once again a motoring force to be reckoned with. This much-loved British brand was acquired by SAIC Motor in 2007 and re-launched with the financial backing of one of the world’s largest car manufacturers.
Eurokars Group’s affiliation with MG dates back to 1999 when it represented MG in Singapore and Brunei. In 2000, the BMW Group sold the brand to Phoenix Consortium which later went into liquidation in 2005.
“Despite that, in line with our strong customer centric philosophy, we continued to service MG customers until the last customer left our workshop. We are pleased to resume our distribution of MG cars in Singapore through our valuable partnership with SAIC Motor, China’s largest automaker. While some brands within Eurokars Group’s portfolio are introducing EVs already, such as the upcoming Porsche Taycan and MINI Electric, we are confident that this strategic tie-up with SAIC, coupled with MG’s strong EV vehicle model pipeline, will help Eurokars Group to build a strong foothold in the fast-growing EV market, and future-proof and diversify our suite of product offerings,” adds Mr Kwee.
Joining a sterling stable of reputable luxury and premium car brands including Porsche, Rolls-Royce, MINI, Mazda and McLaren, MG will be the sixth brand to come under the purview of Eurokars Group in Singapore. In Indonesia, the group represents Porsche, Rolls-Royce, Maserati, BMW (West Jakarta), BMW M and Mazda. Within the region, the group owns a Mazda dealership in Perth, Australia, and has a stake in a Rolls-Royce dealership in Nanning, China. Eurokars Group also has an equity stake in a joint venture which owns a Rolls-Royce Motor Cars dealership in Pudong, Shanghai, China.
Mr Lin Yong, Director of Overseas Market Department of SAIC Motor, says: “We are delighted to officially appoint Eurokars Group as the distributor of MG in Singapore. Eurokars Group has more than 30 years of extensive and tried and tested experience in the Singapore automotive industry. We believe this partnership will strengthen the popularity of the MG brand, and look forward to significantly growing the brand’s presence in Singapore together with Eurokars Group.”
The MG Singapore showroom will be situated along Leng Kee Road, the main automotive belt in Singapore, and opened to the public in the first quarter of 2020. Customers who visit the showroom will experience top-of-the-line customer service, and an immersive environment which reflects the rich and varied heritage of the brand.
“Our goal is to provide the discerning and savvy car buyers in Singapore with a sustainable, premium and stylish brand that not only offers cutting-edge car designs but also attractive pricing. Furthermore, with the addition of MG to Eurokars Group’s portfolio, we will be able to offer a wider selection of motoring options such as EVs to customers. The expansion into the EV segment is in line with the group’s vision to be a leading and well-diversified distributor of premium automobile brands in the region that is known for our strong commitment to quality, excellence and customer satisfaction,” says Mr Kwee.
Eurokars Group believes that going electric is the future of transportation. “The automotive industry has evolved greatly in the last few years. From the traditional combustion engine to hybrid, and now, we are beginning to see more EVs on the roads. Propelled by the pressing challenges that are facing today’s population, the world is moving towards an environmentally cleaner and greener future. We anticipate an uptake in demand for EVs and believe that they will play a huge part in ensuring that motoring remains practical, viable and sustainable in Singapore,” he adds.
About Eurokars Group
Eurokars Group is synonymous with premium automotive brands in Singapore and has enjoyed significant growth, with every brand under its care boasting an unblemished track record, each with its own unique branding and positioning. With more than 30 years of market representation, and industry accolades from Enterprise 50 and Superbrands, Eurokars Group is a well-established motoring entity, having grown over the years from a niche sports car retailer to a multi-franchise automotive dealership group.
Eurokars Group was founded by respected entrepreneur, Mr Karsono Kwee, who as Executive Chairman of the group is driven by a genuine passion for motorcars and has turned the business into a well-diversified and leading customer-oriented dealer of premium automobile brands in the region.
SAIC Motor is the largest auto company on China’s A-share market (Stock Code: 600104.SH) with a total equity of 11.683 billion shares. SAIC Motor is striving to grasp the development trend of the industry, accelerate innovation and transformation, and grow into a comprehensive provider of auto products and mobility services from a traditional manufacturing enterprise.
SAIC Motor’s business covers the research, production and sales of both passenger and commercial vehicles. SAIC Motor is actively promoting the commercialisation of new energy vehicles and connected cars, exploring the research and industrialisation of intelligent technology. SAIC Motor is also engaged in the R & D, production and sales of auto parts; auto-related services such as logistics, e-commerce, mobility and new energy service; auto-related finance, insurance and investment; overseas business and international trade; and big data and artificial intelligence.
SAIC Motor’s affiliated OEMs include SAIC Passenger Vehicle Branch-Roewe & MG, SAIC Maxus, SAIC Volkswagen, SAIC General Motors, SAIC-GM-Wuling, Naveco, SAIC-IVECO Hongyan and Sunwin.
In 2018, SAIC Motor achieved a sales volume of 7.05 million (1.75% Y-Y growth) and accounted for 24.1% of the Chinese market, making itself the first Chinese auto company with an annual sales of over $7 million. With consolidated revenue of $136.39 billion, SAIC Motor took the 39th place on the 2019 Fortune Global 500 list, ranking 7th among all auto makers on the list and 10th among all Chinese companies.
Looking ahead, SAIC Motor will continue to promote innovation and explore closer integration of the auto industry and cutting edge technologies such as new energy, artificial intelligence and 5G communications, so as to master more core technologies, strengthen overall capacity and make strides towards a world-famous auto company with overseas operations, international competitiveness, and strong brand influence.