China’s Anhui Province to set up auto industry chain investment fund worth over 100 billion yuan

Shanghai (Gasgoo)- China's Anhui Province will set up an over 100 billion yuan worth of investment fund for the automotive industry chain, aimed at supporting the construction of internationally influential automotive industry clusters and ensuring the effective implementation of relevant measures.

The decision was revealed during the opening ceremony of the "Invest in Anhui" series event held on May 28, where the Anhui Provincial Development and Reform Commission presented the "Anhui Province New Energy and Intelligent Connected Vehicle Industry Ecological Construction Plan" (referred to as the "Plan").

The Plan outlines a groundbreaking vision for the province's automotive industry. By 2025, Anhui Province aims to make significant progress in nurturing a world-class automobile industry cluster and establishing a comprehensive industrial ecosystem. The plan envisions a development pattern with a focus on pure electric vehicles, supplemented by plug-in hybrid vehicles and hydrogen fuel cell vehicle demonstrations.

As of 2025, the Province aims to create a vibrant automotive ecosystem with a coordinated integration of vehicle manufacturing, components, and after-sales services. It is ambitious to produce 4.1 million vehicles annually, with new energy vehicles accounting for 50% of the total output. Additionally, the Province aims to achieve an annual battery production capacity of 150 GWh, hit a 1:1.2 ratio of vehicle production to parts supply, and reach a post-market scale of 60 billion yuan.

Photo credit: JAC Group

By 2027, Anhui Province plans to establish two or three globally renowned automobile manufacturers and world-class automobile brands. The goal is to attract leading key component enterprises and nurture top-tier after-sales service providers, positioning the Province as a hub known for its intelligent vehicles with global recognition and influence.

In terms of innovative ecological construction, Anhui Province intends to establish an open automobile ecological laboratory and promote comprehensive cooperation between traditional automotive companies and ICT (information and communications technology) firms. Additionally, a national-level testing center for new energy vehicle manufacturing and components will be constructed there.

During the ceremony, seven enterprises, including NIO, Volkswagen (Anhui) Company Limited, and Chery Holding Group, jointly signed and released the "Consensus on Building a High-level New Energy and Intelligent Connected Vehicle Industry Supply Chain."

Anhui Province has already attracted seven major vehicle manufacturers, namely, Chery, JAC Group, NIO, Changan Auto, BYD, Volkswagen, and Hanma Automobile. Furthermore, the province is also home to over 1,100 major component enterprises (with annual revenue of 20 million yuan or more from their main business operations). In 2022, Anhui Province produced 1.747 million vehicles, with the output of new energy vehicles reaching 527,000 units.