Shanghai Automotive Industrial Corporation said Thursday it planned to develop five new classes of car over the next five years, the boldest statement yet by the Chinese company about its plans for its own-brand vehicles.

Hu Maoyan, chairman of the company, said the group would establish five new car platforms – industry jargon for the manufacturing facilities needed for different types of models – in the mid-to-high-end, middle, SUV, compact and mini categories. The move would give SAIC a full range of product offerings.