(Yicai) March 18 -- Rising Auto will keep running independently and launch a new model by June, the premium electric vehicle brand of SAIC Motor said, refuting a rumor of integration with the Chinese car giant's passenger vehicle subsidiary.

On the premise of independent operations, Rising Auto will enhance its synergy with SAIC's advantageous resources to better cope with changes in the market, Yicai learned from a letter sent to resellers during the weekend.

Rising Auto also disclosed in the letter that it will invite resellers to a meeting on March 28 to discuss future plans. The brand has booked its own booth for the Beijing International Automotive Exhibition, held next month.

Shanghai-headquartered SAIC established Rising Auto in 2021 as an independent brand. The marque has launched two models, the luxury sedan Rising R7 and Rising F7. Last December, sales of the first model reached almost 3,100 units.

Senior executives from multiple automakers and manufacturers of auto parts said to Yicai that EV brands backed by big car groups have a better chance of survival as the investment frenzy gradually fades and the competition intensifies.

In this regard, Rising Auto intends to invest more in operations and innovation, per the brand that is backed by SAIC which sells over five million cars per year.

The two units are getting closer though as in January, SAIC announced a management change as Wang Jun replaced Wu Bing as the general manager of its passenger vehicle unit and also became the chief executive of Rising Auto. Wang has worked for SAIC and its affiliates since 1989.

Editor: Emmi Laine