Shanghai New Power Automotive Technology Co., LTD., formerly known as Shanghai Diesel Engine Co., LTD., was founded in 1947 and now belongs to SAIC. In 1993, it was restructured into A state-owned holding company issuing A and B shares at home and abroad. The company has the industry's first national technology center and postdoctoral workstation, adopts SAIC passenger car standard quality management system and advanced automated production line. In the 75 years of development, the cumulative production of various types of engines more than 2.35 million units, products all over the world.

In 2021, the company completed asset restructuring, holding 100% equity of SAIC Hongyan Automobile Co., Ltd. and 40% equity of SAIC Fiat Hongyan Powertrain Co., LTD., forming a coordinated development pattern of "vehicle + powertrain". In the powertrain sector, the company continues to increase investment in the field of traditional power business, and explore new energy power, forming a "traditional power + new energy power" and "dual track" coordinated development pattern.

The company has always been committed to providing high-quality power products, constantly creating value and wealth for customers, and always adhere to and strive to become China's quality leading diesel engine and new energy power solution provider.

The company's engine plate continues to use the "Shangchai power" product brand.