GAC New Energy begins Construction on Plants with Annual Capacity of 200,000 units

Shanghai, Sept. 4, Gasgoo - Currently, GAC New Energy factory begins its operating construction. According to the GAC Group “153” new energy strategy plan, it plans to invest RMB 4.69b for the construction and implementation of alternative energy vehicle projects. It will construct a factory with an annual capacity of 200,000 units in the first phrase, which will be put into operation at the beginning of 2019.

GAC Group also released announcement in March that the Group held the Board Meeting on March 24th, 2017, agreeing that its subsidiary GAC Motor would implement an expand project with annual capacity of 200,000 units and a total investment of RMB 4.69b. Besides, the Group also plans to invest RMB 600m to establish a wholly-owned subsidiary GAC New Energy Automotive Company to accelerate its layout in new energy area.

Yu Jun, General Manager and Director of GAC Motor once said during an interview that GAC Motor has a total sales volume target of 1m units, in which alternative energy vehicle products accounting for 20% shares.

“We will launch four alternative energy vehicle models this year, including PHEV versions of GA3S, GS4 and GA6 and BEV version of GE3. We will also continue to launch other alternative energy vehicles in the next year. The new factory will also produce and sell models based on specialized BEV platforms, which will create a rich alternative energy family product series.”