GAC Group aims to sell 3.5 million vehicles annually

Beijing (Gasgoo)- GAC Group aims to produce and sell 3.5 million vehicles at the end of the 14th Five Year Plan period, an increase of 70% compared with the sales of 2019, and over 20% will be new energy vehicles, according to the group’s 1615 Strategy, which was announced at the Guangzhou Show. By then, its revenue is expected to be up to RMB600 billion.

Feng Xingya, general manager of GAC Group, is introducing the 1615 strategy. Photo credit: GAC Group

Apart from the above target, the group will endeavor to ramp up its efforts in R&D, complete vehicle, parts, business and trade, financing and mobility sectors. In the next five years, the group will focus on improving its own innovation ability and realizing high-quality growth to enhance its competitiveness in connectivity, electrification, sharing, digitalization and internalization.During the five-year period, the group will build its own advanced R&D system for intelligent and connected technologies as well as electric vehicles via independent innovation, opening-up and cooperation. In 2025, its self-owned brands will achieve electrification of its entire lineup.

As to the plan for autonomous vehicles, GAC aims for the mass application of L3 autonomous technologies in 2023 and will introduce an all-new electrical/electronic architecture in 2024 before it begins the commercial operation of L4 autonomous driving under certain scenarios in 2025. Besides, the group will accelerate its pace to venture into other foreign markets and expand its brand influence across the world.

In the future, the group will continue to promote the cooperation with Honda and Toyota to improve the performance and competitiveness of the joint ventures with them. For its another two joint ventures, GAC FCA and GAC Mitsubishi, the group will make full of their expertise and brand influence in SUV segment to shape them into professional brands. The Trumpchi brand will focus on hybrid technology to differentiate its advantages.

By 2035, the group anticipated its production and sales will exceed 5 million units with revenue over RMB1 trillion.  

GAC New Energy Automobile, the NEV unit of GAC Group, changed its name to GAC Aion New Energy Automobile on Nov. 16, according to a document from the State Administration for Market Regulation (SAMR). At the auto show, the group officially announced that the Aion brand will start its own independent operation.   

In October, GAC NE sold 7,106 vehicles, a year-on-year surge of 57%. Notably, the sales of the Aion V exceeded 2,000 units for two consecutive months. For the first ten months, the NEV maker saw its total sales soar 72% from a year ago to 45,797 units.