AutoWallis, MG's Parts Distributor in the Region

SAIC Motor and the AutoWallis Group have signed an agreement under which the Hungarian company will become the MG brand's parts distributor in 13 countries of the region, the Hungarian company told MTI on Thursday.

With the agreement, AutoWallis will further strengthen its international presence and enter Greece. In the countries concerned (Hungary, Albania, Czech Republic, Greece, Croatia, Poland, Romania, Slovakia, Slovenia, Serbia, Montenegro, Bosnia and Herzegovina, Kosovo), AutoWallis' wholesale business will provide MG with parts distribution and warehousing services for the brand, with the parts being owned by SAIC Motor CEE.

Shanghai-based SAIC Motor Corp. Ltd. is the largest Chinese car manufacturer, with 5.3 million vehicles sold under multiple brands in 2022. In 2021 it was the world's third largest electric vehicle manufacturer, and has been producing traditionally British MG brand vehicles since 2007.

AutoWallis Plc. is listed in the premium category of the Budapest Stock Exchange (BSE). Its turnover in 2022 was HUF 270 billion, up 39 percent on the previous year. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 85 percent to more than HUF 14.52 billion.