Top stories of GAC Group in 2018

Shanghai (Gasgoo)- GAC Group announced a year-on-year (YoY) growth of 7.34% with a total of 2,147,892 vehicles sold in 2018 and most subsidiaries achieved positive growth from the previous year. GAC Trumpchi, the group's self-owned car brand, had its 2018 sales grow 5.23% to 535,168 units, the second consecutively year with full-year sales exceeding 500,000 units after 2017.

Apart from the sales performance, Gasgoo hereby summarizes GAC Group's significant events that happened in 2018, helping you review what progresses the automaker made during the past year. 

GAC Group, Pony.ai signs strategic cooperation agreement for autonomous driving development

On February 02, GAC Group signed a strategic cooperation framework agreement with Pony.ai, a Chinese autonomous driving startup, to deploy in autonomous driving area.

According to the announcement GAC released this morning, both companies would collaborate on the development of autonomous driving solutions. Pony.ai would provide technical backing for GAC Group to boost the implementation of the automaker's autonomous driving projects. In addition, both companies would explore potential capital collaboration under mature conditions.

Meanwhile, they planned to co-build a demonstrating autonomous vehicle fleet, establish a demonstration zone of autonomous driving in Guangzhou and carry out autonomous vehicle tests.

GAC Motor Xingjiang plant starts operation with annual capacity of 50,000 units

On February 6, the first phase of GAC Motor's vehicle plant in Xingjiang Uygur autonomous region was completed.

With an annual production capacity of 50,000 units, the first phase of the Xingjiang plant would manufacture GAC Trumpchi's GS4. In the future, the plant might produce other models to meet the market demands.

GAC Motor revealed that the Xingjiang plant, covering an area of 330 thousand square meters, began construction in March last year. The first phase involved an investment of RMB 1.087 billion with a designed production capacity of 50 thousand units. The second phase would add another 50 thousand units to the annual capacity.

GAC Group teams up with Didi to develop intelligent EVs

GAC Group announced that the company and Huidi (Tianjin) Business Services Co., Ltd. (hereinafter, Huidi Tianjin) signed cooperation framework agreement on April 24. Both parties would cooperate in tailored design, development and production of intelligent electric vehicles (EV).

Huidi Tianjin is a platform company for Didi and its partners' cooperation in new energy vehicles (NEV) operations, according to the automaker's announcement.

The two companies would jointly fund and build a joint venture as the tailored demander for the design, development and production of intelligent EVs. GAC Group would accept tailored requirements from the joint venture and take on relevant tasks of intelligent EVs.

GAC Motor, Aisin AW sign agreement on automatic transmission JV

GAC Motor and Aisin AW, a world-renowned AT manufacturer, held the signing ceremony of the automatic transmission (AT) joint venture project in Beijing on the afternoon of April 24. According to the joint venture agreement, both parties would conduct the joint venture cooperation in manufacturing, sale, after-sale service and relevant technical consultation of the AT and AT-related components to jointly enhance both parties’ products competitiveness and brand premium capability.

As agreed, both parties would jointly set up an automatic transmission joint venture located in Guangzhou. With its registered capital reaching USD 117 million, GAC Motor and Aisin AW would hold 40% and 60% stake of the joint venture respectively.

Honda to transfer stake in Honda Automobile (China) to GAC Honda

Japanese automaker Honda would sell its stake in Honda Automobile (China) to GAC Honda, a joint venture with GAC group, valued at about RMB 602 million (around $94.7 million), according to Honda's statement released on May 17.

The stake to be transferred this time includes 55% from Honda and 10% from Honda Motor (China) Investment Co., Ltd.

GAC Group, iFlyTek co-build AI vehicle technology innovation center

GAC Automotive Engineering Institute (GAC Engineering) and Chinese artificial intelligence (AI) company iFlyTek officially established the AI Automobile Technology Center in Guangzhou, capital of Guangdong Province on May 21. Both parties would jointly build a world-leading AI vehicle technology innovation platform based on the industry-oriented demands of GAC Engineering.

According to the agreement, two parties would carry out in-depth cooperation in innovation platform, talent training as well as studies on some special subjects to promote the construction and development of the new innovation center. iFlyTek intended to deepen its AI technology applications in various ICV scenarios relying on the cooperation. GAC Engineering aimed to lay a solid technology foundation in some cutting-edge technical areas like AI and develop a range of world-leading technologies with self-owned intellectual property rights.

GAC, Tencent Cloud step up cooperation in IoV

GAC Automotive Engineering Institute (GAC Engineering) and Tencent Cloud inked an agreement on May 24 to conduct in-depth cooperation in some areas such as integral IoV (Internet of Vehicles) solutions and big data cloud.

Under the agreement, two companies would jointly build the new-generation GAC intelligent-connected cloud ecosystem platform based on Tencent's advantages in cloud computing, content ecosystem, platform security, AI, big data, etc.

To be specific, GAC Engineering intended to provide users with abundant services like radio broadcasting, music, video as well as mapping, relying on the Internet company's powerful social and content ecosystem.

GAC Toyota to add RMB 2.45 billion to enlarge capacity, introduce new SUV model

GAC Group had agreed a project that allowed GAC Toyota to expand its production capacity and introduce more models, the group announced on July 2. The project involves an additional investment of RMB 2.45 billion, which should be raised by GAC Toyota itself.

GAC Toyota saw its annual retail sales volume exceeding 440,000 vehicles in 2017, surpassing its initial sales goal. To ease the capacity pressure and introduce the TNGA (Toyota New Global Architecture) platforms, the third assembly line of the Sino-Japanese joint venture was put into operation in January, 2018 with an initial capacity of 100,000 vehicles on an annual basis.

Two model projects of GAC FCA approved by GAC Group

GAC Group announced on July 17 that its board of directors agreed to implement the K4 MCA model project of GAC FCA, a joint venture of GAC and Fiat Chrysler. The investment involves RMB 511.06 million, which would be raised by the joint venture itself. 

GAC's board of directors also passed another proposal about GAC FCA's 553 GSE-T4 model project, and agreed GAC FCA to implement the project. Similar to the K4 MCA model project, the 553 GSE-T4 model project's RMB 200.68 million investments would be also raised by GAC FCA itself.

GAC Group plans to set up JVs with CATL

GAC Group announced that it plans to sign a joint venture operation contract with Contemporary Amperex Technology Limited (CATL) on July 19 in Guangzhou. The two companies planned to jointly invest and establish two joint ventures in Guangzhou, which would be temporarily named as GAC Amperex Power Battery System Co., Ltd. and Amperex GAC Power Battery Co., Ltd.

GAC Amperex Power Battery System Co., Ltd. would be registered with RMB 100 million, which would be raised by both parties. GAC Group, holding a 51% stake in the JV, would provide RMB 51 million. CATL, with a 49% stake in the JV, would fund RMB 49 million.

Amperex GAC Power Battery Co., Ltd. would be jointly funded by both parties with registered capital of RMB 1 billion. GAC Group would invest RMB 490 million to hold a 49% stake in the JV, while CATL would hold the rest stake with RMB 510 million investments.

GAC Motor unveils new brand essence, to roll out two new models in 2018

GAC Motor, the subsidiary independently owned by GAC Group, released a new brand culture and brand essence dubbed “The Road to Greatness” at its 10th anniversary on July 21, aiming to plan the development route for the company in the following decade and push innovation beyond current limits.

At the event, GAC Motor made clear that its integral development goal was to build itself into a world-class brand and a global automaker. Facing the challenges and opportunities of globalization, the company would be committed to the mission of creating an enjoyable life of mobility for consumers worldwide.

GAC NE, Tencent unveil new AI system, two new BEV models to be launched in 2019

GAC New Energy Automobile Co.,Ltd unveiled an all-new AI-based system co-developed with Tencent at its one-year anniversary and announced that the Trumpchi GE3 530, which is the first model carrying the new AI system, would officially go on sale at the end of August.

In addition, GAC NE announced the plan at the same time to roll out other three new models. The Trumpchi GS4 PHEV would hit the market at the end of this year, boasting a mileage of 60km. In 2019, the company will launch a pure electric model in the first half, featuring a wheelbase of 2.73m and a mileage of 500km, and a 5-seat electric-driven SUV model with a wheelbase of 2.9m and a mileage of 600km in the second half.

GAC Group examines, approves HG model project under GAC Honda's H brand

GAC Group announced that the 80th meeting of the group's fourth board of directors examined and approved the proposal on HG model project under GAC Honda's H brand on Aug. 10, agreeing GAC Honda to implement the HG model project under its H brand.

In addition, the board of directors of GAC Group examined and approved the proposal on capital increase of GAC-Sofinco Auto Finance, agreeing the JV to add RMB 1.4 billion registered capital, which would be half-half raised by shareholders and GAC Group. 

Aptiv to supply GAC NE with ADAS

Aptiv, an industrial-leading vehicle safety and autonomous driving solution provider, announced on August 20 that it would develop advanced driver assistance systems (ADAS) for the electric vehicle (EV) platform of GAC New Energy Automobile Co.,Ltd (GAC NE).

To be specific, Aptiv would offer the Guangzhou-based new energy vehicle (NEV) maker the integrated solutions covering software, hardware as well as computing platform, which involves such products as the intelligent front-view camera co-developed with Mobileye, mid-range radar, short-range radar, active safety multi-domain controllers, driver drowsiness monitoring system as well as relevant software and algorithms. It was reported that the system provided by Aptiv could endow GAC NE's next-generation EVs with a variety of ADAS functions, such as automatic cruise in traffic congestion or on the highway.

GAC Trumpchi spreads roots in Russia

GAC Trumpchi announced the launching of its first overseas sales subsidiary in Russia at the 2018 Moscow International Motor Show, according to local media. The Russian sales company would be responsible for the import and agency businesses of Trumpchi branded cars in Russia and work on weaving the sales networks for the brand by cooperating with local dealers.

GAC Toyota launches pure electric SUV at Chengdu Motor Show 2018

On Aug. 31, GAC Toyota launched its first mass-produced pure electric SUV, the GAC ix4 at the Chengdu Motor Show 2018 with two variants. With price starting from RMB 163, 800, the model also enjoys purchase tax exemption.

Based on the same mature platform as that of the GS 4, the GAC ix4 is powered by a whopping electric motor, high-energy density batteries and a highly-integrated electric motor controller with a maximum power output of 132kW and a peak torque of 290Nm. What's more, it can sprint from 0-50km/h in 4.5 seconds.

GAC Honda to plow RMB3.27 billion into NEV assembly lines with annual capacity of 170,000 units

GAC Group announced on October 31 that it had agreed GAC Honda to invest RMB2.99 billion in building a new NEV (new energy vehicle) plant with an annual capacity of 120,000 units.

The auto group also empowered GAC Honda to refit an assembly staging area into a NEV assembly workshop with an investment of RMB276 million. The program would bring another capacity of 50,000 NEVs annually.

GAC NE unveils new NEV strategy, to launch second-generation BEV platform

GAC NE planned to launch the second-generation Gac Electric Platform (GEP) that boasts more space, lower power consumption and stronger performance, which will be put into operation in 2019, according to the report from the automaker’s new NEV strategy launching ceremony on November 13.

Gu Huinan, general manager of GAC NE, said that the company aims to achieve the production transformation from the 1.0 era to the 2.0 era, rolling out no less than two new models per year in the future based on the second-generation GEP.

CATL-GAC Group joint venture to invest RMB4.226 billion in power battery program

CATL, a China-based vehicle and energy storage battery maker, announced on December 14 that its board of directors had agreed CATL-GAC Power Battery Co.,Ltd (CATL-GAC) to invest around RMB4.226 billion in a power battery base program.

The new base, covering a total area of 400mu (around 266,667 square meters), will be located in Guangzhou. The whole construction period is planned to last around 24 months.