Changan JVs Plan to Accelerate EV Transition as Conventional Cars Lose Position

Chongqing Changan Automobile Co. Ltd. plans to speed up the electrification of two of its joint ventures with foreign carmakers, as China’s homegrown electric-vehicle brands increasingly gain market share from fossil fuel-powered car companies, according to the chairman of the state-owned giant.

The change in the industry was laid bare at last month’s Shanghai Auto Show, where the booths of Chinese brands were flooded with visitors, said Changan’s Zhu Huarong during the Q&A session of the firm’s 2022 earnings presentation on Monday. A decade ago, cars built by China’s numerous international JVs would typically be center stage at such exhibitions, he said.