GAC: Construction of NEV Industrial Park, Joint Ventures with NIO and DiDi
Leading the increase in sales with its own Trumpchi brand and Japanese JV brands
The Guangzhou Automobile Group Co., Ltd. (hereafter referred to as the GAC Group) is the sixth-ranking (as of 2018) automotive group in terms of sales volumes engaged in the manufacturing and sales of passenger vehicles and motorcycles, with its headquarters located in the city of Guangzhou, Guangdong Province.
GAC Motor, which celebrated its tenth anniversary in 2018, has greatly increased its vehicle sales thanks to the major hit of its Trumpchi GS4 compact SUV in 2016, and established a solid position with its own brand models. From 2017, the automaker has actively partnered with emerging NEV automakers and companies from other industries, and has been engaged in the development and production of EVs on consignment as well as its own brand models. Additionally, the automaker is a participant in the GAC Group’s smart project taking place in its home city of Guangzhou, with plans to transition from a conventional manufacturing-centric company to a mobility service provider. Among the Group’s joint ventures, GAC has JVs with 3 out of 4 of the Japanese OEMs that produce passenger vehicles, namely GAC Honda, GAC Toyota, and GAC Mitsubishi, all of which are steadily increasing their vehicle sales and contributing to the increase in the GAC Group’s overall vehicle sales volumes.
In 2018, although a number of automotive groups were unable to achieve the sales volumes of the previous year, the GAC Group performed solidly with a year-over-year (y/y) growth of 7.5% to 2.13 million vehicles, thanks to the healthy sales of its Japanese joint ventures.
The GAC Group has set a production goal of 3 million vehicles and a vehicle sales target of 2.4 million units, including 100,000 new energy vehicles (NEVs) for 2020. To this end, the Group is strengthening its production capabilities, primarily by renovating existing GAC Motor plants and constructing new ones.
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