Good news! New energy and intelligent connected vehicles will not have to be imported from foreign countries any more in the future. People can buy them just in Guangzhou.
The output value of Guangzhou's auto industry is expected to reach 600 billion yuan by 2020, according to the auto parts industry forum held during the recent Guangzhou Annul Investment Conference.
The city's goal is to achieve an average annual growth rate of 7 percent for the total output value of its auto industry during the current 13th Five-Year Plan period. By 2020, the domestic auto production capacity of Guangzhou is expected to reach 3 million units and the overseas production capacity 1.1 million units, of which 1.5 million units are self-owned brands.
"Guangzhou has unveiled a series of new policies,including support measures in talent introduction, public service platform construction and core technology development, to boost the development of the auto industry. with the government strengthening its efforts to boost self-owned brands and research and development of self-brand vehicles and new energy and intelligent connected vehicles developing rapidly, the auto industry has turned into Guangzhou's No. 1 pillar sector.” said Tang Hanghao, vice chairman of the Standing Committee of the Guangzhou Municipal People’s Congress,
Tang said that Guangzhou has unveiled many policies to expedite the development of self-owned brands and new energy and intelligent connected vehicles.
Three auto industry cluster zones worth of more than 100 billion yuan each have been built in the northern, eastern and southern areas of the city, which are respectively Nissan automobile manufacturing site in Huadu district, Honda site in Zengcheng distric and Toyota site in Nansha district. They are home to more than 500 auto parts corporations, according to the Guangzhou Municipal Commission of Commerce. In 2016, Guangzhou’s automobile production jumped to 2.63 million vehicles, ranking second in China, while the total output value of the auto industry reached 434.627 billion yuan, accounting for more than 70 percent of the total of Guangdong province.
(By Chris Wang, Louis Berney)