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GAC
GAC
NEWS
The state-owned carmaker will use the company’s smart driving tech in vehicles under its Trumpchi brand, a year after the deal with another GAC brand was ditched
Apr.26 2024 19:06 PM
- 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
Chinese state-owned automaker secures deal with EHang to jointly produce electric vertical takeoff and landing aircraft at the facility in southern metropolis Guangzhou
Mar.18 2024 18:35 PM
The technology holds the promise for a longer lifespan, increased range and faster charging times than conventional lithium-ion cells
Nov.20 2023 20:06 PM
Guangzhou Automobile Group says it will partner with Guangzhou Development District Investment Group to help fund the ride-hailing firm’s efforts in developing the technology
Oct.13 2023 20:27 PM
Internal memo calls for more focus on electric vehicles as transition cited as other reason for stoppage
Jul.14 2023 02:23 AM
Automaker’s EV unit will develop its own smart car system as Huawei doubles down on a competing business model for automotive partnerships
Mar.29 2023 03:15 AM
Huawei’s new chip design tool helps it counter U.S. tech curbs, researchers explain how potential malware in Pinduoduo app works
Mar.28 2023 19:45 PM
Alibaba and Baidu post higher quarterly profits, China carmakers look for ways to embed more home-grown chips in vehicles
Feb.24 2023 21:30 PM
The Guangzhou-based company sources about 10% of its microchips from domestic firms, but sees room to grow that figure, executive says
Feb.21 2023 20:22 PM
Dongfeng Nissan plans to use Horizon Robotics’ AI chips, CATL supplier lists in Shenzhen
Jan.3 2023 20:02 PM
The aggressive entry of tech giants like Huawei is helping give deep-pocketed traditional carmakers an edge
Sep.15 2022 20:28 PM
Meituan narrows losses, SMIC plans $7.5 billion wafer plant
Aug.30 2022 21:08 PM
State carmaking giant plans to set up a lithium-battery subsidiary and start building its first manufacturing plant this year
Aug.26 2022 20:57 PM
The Chinese metals group signs a strategic cooperation agreement with GAC Aion as automakers scramble to offset the surging price of the key battery raw material
Aug.19 2022 20:22 PM
The duo is shutting down their money-losing Jeep JV, which recorded a more than 84% drop in first-half sales
Jul.27 2022 20:05 PM
AI chip specialist Horizon Robotics secures strategic investment; Cybersecurity watchdog probes China’s largest online academic library
Jun.28 2022 20:30 PM
GAC executive projects shortfall will continue into 2023 and 2024 as smart and electric cars need lots of advanced integrated circuits
Jun.28 2022 06:05 AM
Xi pledges to open China’s door wider to the outside world. Global investors continue to dump yuan bonds
May.20 2022 08:41 AM
DJI suspends drone business in Russia and Ukraine, Huawei’s revenue drops
Apr.29 2022 20:30 PM
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