GAC New Energy Automotive Industry Park with 45 Billion Yuan Investment Begin Construction

Shanghai 28th April 2017 Gasgoo--On the morning of April 27th, Guangzhou Automobile Group announced that the new energy automotive industry park (hereinafter referred to as the "Industrial Park") officially started construction. The overall planning areas are about 7500 acres and the total investments of enterprises are expected to over 45 billion Yuan.

The first project of the industrial park is the production capacity expansion (increment of 200 thousand / year) project of GAAC (new energy vehicles), the total planning investments reach 4 billion 694 million Yuan and construction areas are about 240 thousand square meters. It is expected to be completed by the end of 2018.

It is understood that the industrial park will focus on three fields: "intelligent manufacturing, innovation development, ecological town". With an idea of ““overall planning, development by stages", the industrial park will create three functional areas: "intelligent manufacturing area, passenger service area and ecological town". "The intelligent manufacturing" contains new energy automobile manufacturing and core components manufacturing, the“passenger service area ”will focus on the development of intelligent new energy vehicles and the technology and product development activities of key parts, construction of the automobile finance investment and financing platform, the introduction of innovative enterprises and team, provision of the industry incubation function; “the ecological town”will build automobile related industries and extend industry formats, form a set of residential, commercial, educational, medical and other development of new energy automotive intelligent ecological town.

According to the announcement, the industrial park is adjacent to the Guangzhou Panyu Hualong base, which is in favor of the realization of horizontal supporting and longitudinal extension of the automobile industry chain, it is also in favor of the formation of “high-grade,precision, advanced”automobile industry cluster, which is characterized by industrial resource sharing, mutual correlation, mutual service, and mutual supporting.

It is understood that GAC Trumpchi plans to launch 9 new models in 2017, including 2 new energy models: GE3 pure electric crossover vehicle, two plug-in hybrid vehicles GS4 PHEV and GA6 PHEV.