BEIJING, Nov. 20 (Xinhua) -- Guangzhou Automobile Group Co., Ltd. (GAC Group) announced late Thursday that it aims to produce and sell 3.5 million units of vehicles during the 14th Five-Year Plan period (2021-2025). The number of new energy vehicles (NEVs) is expected to take up over one fifth of the total.
In the next 5 years, the automaker will adhere to independent innovation and open cooperation, focus on the main business, build core capabilities of independent research and development (R&D), consolidate its competitive edge in the vehicle sector, foster the competitiveness in the parts sector, optimize the industrial chain layout of business service and financial service, in a bid to achieve a sustainable and high-quality development.
In particular, GAC New Energy Automobile, the NEV arm of GAC Group, has been renamed itself as GAC Aion on November 16.
The 2020 Guangzhou International Auto Show kicked off in Guangzhou, capital of south China's Guangdong Province, on Friday, during which GAC Group will showcase its latest products and technology of GAC Trumpchi and NEVs.
According to GAC Group, it sold 2.06 million vehicles in 2019, down 3.99 percent year on year. In the meanwhile, it sold 42,003 units of NEVs, surging 110 percent year on year. (Edited by Zhang Yuan with Xinhua Silk Road, email@example.com)