Changan Automobile — Company Info And Latest News

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Changan Automobile

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China's state-owned automakers, including First Automobile Works Group, Dongfeng Motor Corporation, and Changan Automobile (controlled by China North Industries Group Corporation), are being encouraged to accelerate their development in the new energy vehicle (NEV) market. The State-owned Assets Supervision and Administration Commission (SASAC) will assess these companies based on their NEV business separately, aiming to break barriers that have slowed their progress compared to private firms like Tesla and BYD.
Despite government support since 2009, state-owned enterprises (SOEs) have been cautious about investing heavily in NEVs due to concerns over profit assessments and the high initial costs associated with developing new technologies. This has led to a slower response to the booming NEV market compared to private competitors. As of 2023, the sales volume of NEVs from these SOEs is significantly lower than the industry average.
SASAC's new policy direction for SOEs includes relaxing profit assessments and focusing on sales volume and technological advancements in the NEV sector. This shift aims to stimulate aggressive competition and innovation among state-owned automakers, potentially leading to a significant restructuring of China's automotive industry towards electrification.

Apr.6 2024 14:05 PM

Few details disclosed of meeting between Changan Automobile chairman and HiPhi founder, but clock is ticking if EV startup is to survive

Feb.29 2024 05:52 AM