The homepage of SAIC Motor, a Chinese state-owned automotive manufacturer.

SAIC Motor, a Chinese state-owned automotive manufacturer, is venturing into the ride-hailing market, according to Zhou Langhui, vice president of the group, The Paper reported.

Relevant information will be disclosed to the public in October, Zhou said, adding this is part of the A-share company’s effort to promote its innovation strategy.

The company will not only focus on the scale of production and sales, but also strengthen the innovation capacity and introduce new businesses.

Zhou also mentioned that in recent years, sales of their new energy vehicles continue to double in growth, while the core technology earned second prize for national scientific and technological progress.

Sales of its “Internet car,” which runs software developed by Alibaba’s YunOS division, has exceeded 700,000 units. Overseas vehicle sales also continue to rank first in the industry.