Changan Auto: Target Sales of 2.8M Units in 2023, Rolling Out Multiple Electric Powertrains
Expanding R&D investment, building overseas bases, and promoting transition to low-carbon
- Strategic plan: Sales target by 2030 of 5 million units, NEVs over 60%, and overseas volume 30%
- Electrification: Sales of own-brand NEVs soar; multiple EV, HV, FCV lines being promoted simultaneously
- Intelligent: More than 30 intelligent connected products to be introduced by 2025
- Internationalization: Overseas sales increase, Philippine headquarters completed, construction of ASEAN base begins
- Low carbon technologies: Carbon peak out in 2027, carbon neutrality in 2045
- Changan Automobile Group's domestic sales in China (ex-factory units)
- LMC Automotive’s Sales Forecast: Changan Automobile Group’s light vehicle sales in 2026 will be 1.80 million units
Chongqing Changan Automobile Co., Ltd. (Changan Automobile) increased its sales volume in 2022 by 4.9% year-over-year (y/y) to 2,053,000 units, ranking fifth among China's auto manufacturer groups. Of these, 1.7 million are own-brand vehicles, accounting for more than 80% of the total. Foreign brands accounted for 353,000 units. Changan Automobile Chairman Huarong ZHU said at the 2023 Global Partners Convention that Changan Automobile is currently the only state-owned automaker whose own-brands are profitable.
Changan Automobile aims to achieve group sales of 2.8 million units in 2023. The company plans to sell 2.08 million vehicles under its own brands and to electrify all engine-equipped vehicles through minor or full model changes to achieve group sales of 4 million units and 35% NEVs (New Energy Vehicles) by 2025, and group sales of 5 million units and over 60% NEVs by 2030. Changan Automobile's sales volume outside China has been increasing in recent years, with the completion of its Philippine headquarters in December 2022. The company plans to start production at its ASEAN sites by 2025, with plans to further expand into the European and American markets. The goal is to achieve an overseas sales proportion of 30% by 2030.
Changan Automobile is committed to transforming itself into a smart low-carbon mobility technology company. In August 2022, the company announced a new smart brand, "Zhuge Intelligence", which includes three elements: interaction, intelligent drive, and eco-systems. In December, the company announced three new energy power systems: the "intelligent Dual Drive (iDD)" hybrid vehicle system, the "FORCE" electric drive/range extender system, and a hydrogen fuel cell system, and established Changan Technology Company. A total of CNY 150 billion will be invested in the new automotive technology industrial chain over the next 10 years. In addition, Changan Automobile plans to achieve carbon peak-out by 2027 and carbon neutrality by 2045.
2022 Chinese Market: New Vehicle Sales Up 2.2% to 26,864,000 units, Major Increases by BYD and Tesla (Feb. 2023)
Chinese Market Q4 2022: GAC, Changan, NIO, Xpeng and Others Set Up Battery Companies (Jan. 2023)
2022 China Auto Forum: Development Trends of Smart EVs (Dec. 2022)
Chinese Market Q3 2022: SAIC, FAW, and Toyota Promoting FCVs(Nov. 2022)
Changan Auto: A low-carbon smart mobility technology company to sell 4.5 million units in 2030 (Oct. 2021)
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