Chongqing eyes annual revenue of 700 billion yuan from intelligent new energy vehicle parts industry by 2027

Shanghai (Gasgoo)- Recently, the draft of the "Chongqing Special Action Plan (2023-2027) for the Advancement of the Intelligent Connected New Energy Vehicle Parts Industry Cluster" (called "the Plan" for short) was issued by the city to solicit public opinions, aiming to garner feedback and suggestions from the wider community.

The Plan envisions the total annual business revenue for the city's intelligent connected new energy vehicle parts industry to reach 700 billion yuan by 2027, with an addition of 800 new enterprises in the sector.

Deepal SL03; photo credit: Deepal

The Plan emphasizes seven key categories, including power battery systems, intelligent chassis systems, intelligent connectivity systems, electronic components, automotive software, lightweight components, and thermal management systems. It also outlines ten specific areas of focus, such as strengthening cooperation between vehicle and parts manufacturers, accelerating the transformation and upgrading of traditional auto parts companies, and optimizing the industrial spatial layout in the western part of Chongqing city.

Regarding industrial spatial layout, Chongqing will support the continuous growth of the complete vehicle production and sales scale in its central urban area, with a particular emphasis on developing foundational products like automotive software and automotive chips. The plan supports the establishment of the backbone of the city's intelligent connected new energy vehicle parts industry in the eight districts of Western Chongqing, with the goal of achieving an industry output value of 400 billion yuan by 2027.

Previously, Chongqing's authority issued the "Development Plan for Creating a World-Class Smart Connected New Energy Vehicle Industry Cluster (2022-2030)", setting a target to preliminarily form a world-class intelligent connected new energy vehicle industry cluster by 2025, with its production and sales of intelligent connected new energy vehicles accounting for over 10% of the national totals.