GAC Group unveils ‘1551’ strategy for international business developemnt

Shanghai (Gasgoo)- GAC Group recently released a new strategy dubbed "1551" set for its global business expansion.

Expounding on the new strategy, GAC Group aims to reach an annual sales target of 500,000 vehicles in overseas market by 2030 ("1"), solidifying its presence in the "5" major market regions of Europe, Asia-Pacific, Commonwealth of Independent States (CIS), Middle East & Africa, and Central & South America, targeting at least 12 strategic markets with a capacity of over 100,000 vehicles each.

100 AION Y Plus to be shipped to Thailand; photo credit: GAC AION 

Over the next 5 to 10 years, GAC Group's international efforts will center around "5" transformations: brand internationalization, product globalization, local production, comprehensive sales and service, and ecological diversification, while "1" global organizational and talent safeguard mechanism will be put in place to build a collaborative overseas development community.

Broadly, GAC Group's approach in Europe will involve an emphasis on entering the market with battery electric vehicles (BEVs), concentrating efforts on the Western European markets, with plans to establish its European subsidiary this year. In the Asia-Pacific region, GAC Group will make inroads with oil-fueled vehicles (including hybrid electric vehicles) and BEVs, targeting production bases in countries like Malaysia, Thailand, and Myanmar. The Middle East & Africa strategy will revolve around a Dubai-based subsidiary and an overseas parts warehouse, while GAC Group will continue to expand its footprint in the Gulf region. In Central & South America, the group has already established a subsidiary in Mexico this year to enhance local operations and concentrate on the Mexican and Chilean markets. In the CIS market, Russia will be a central focus for GAC Group, initially relying on complete built-up (CBU) exports, with a keen eye on local production possibilities.