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Yahoo
04-08-2025
- Automotive
- Yahoo
Changan aims to become top 10 global automaker
Chinese state-owned automaker China Changan Automobile Group Company Ltd (Changan Auto) announced that it aims to become a top 10 global automaker by the end of the decade. The statement comes shortly after the automaker was spun off into a 'centrally-owned,' automotive focused enterprise, following a major restructuring at its parent company China South Industries Group - a leading Chinese state-owned military-industrial conglomerate. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You The new company is headquartered in Chongqing and is made up of 117 subsidiaries, mostly component manufacturing companies as well as the automaker, Changan Automobile. The group employs approximately 110,000 people, producing passenger and commercial vehicles, motorcycles, and components, as well as operating in logistics and financial services. Zhu Huarong, chairman of Changan Auto, said in a statement: 'Our mission is clear — to build a world-class automotive group with proprietary core technologies and global competitiveness.' The company has set a target of selling 5 million vehicles annually by 2030, up from 2,683,798 units in 2024 – including its joint ventures with Ford and Mazda. It expects new energy vehicles (NEVs) to account for more than 60% of the total, while overseas sales are expected to make up 30% of group sales. The company also plans to expand into new markets, including robots, flying cars, and embodied AI. Changan Auto expects to increase sales by 12% to 3 million units in 2025, including 1 million NEVs, generating revenues of CNY 355 billion (US$ 49 billion). "Changan aims to become top 10 global automaker" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
01-08-2025
- Automotive
- Yahoo
Changan aims to become top ten global automaker
Chinese state-owned automaker China Changan Automobile Group Company Ltd (Changan Auto) has announced that it aims to become a top ten global automaker by the end of the decade. The statement comes shortly after the automaker was spun off into a 'centrally owned' automotive focused enterprise, following a major restructuring at its parent company China South Industries Group - a leading Chinese state-owned military-industrial conglomerate. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service The new company is headquartered in Chongqing and is made up of 117 subsidiaries, mostly component manufacturing companies as well as the automaker, Changan Automobile. The group employs approximately 110,000 people, producing passenger and commercial vehicles, motorcycles, and components, as well as operating in logistics and financial services. Zhu Huarong, chairman of Changan Auto, said in a statement: 'Our mission is clear — to build a world-class automotive group with proprietary core technologies and global competitiveness.' The company has set a target of selling five million vehicles annually by 2030, up from 2,683,798 units in 2024 – including its joint ventures with Ford and Mazda. It expects new energy vehicles (NEVs) to account for more than 60% of the total, while overseas sales are expected to make up 30% of group sales. The company also plans to expand into new markets, including robots, flying cars, and embodied AI. Changan Auto expects to increase sales by 12% to three million units in 2025, including one million NEVs, generating revenues of CNY 355 billion (US$ 49 billion). "Changan aims to become top ten global automaker" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
CTV News
21-07-2025
- Automotive
- CTV News
Chinese investors snap up stocks on hopes for an end to price wars and overcapacity
New cars wait for shipment in a parking lot partially covered by solar panels at the distribution center of Changan Auto, in southwest China's Chongqing Municipality on July 6, 2025. (Chinatopix via AP) BEIJING — China's stock market is buzzing over government promises to tackle price wars that have hurt profits and worsened global trade tensions. The prevailing catchphrase is 'anti-involution,' and it reflects efforts to curb intense competition and overcapacity in industries like solar panels, steel, and electric vehicles. With rising trade barriers such as U.S. President Donald Trump's higher tariffs, and relatively weak domestic demand, manufacturers have been slashing prices, undermining their bottom lines and driving some out of business. The producer price index, which measures the price that factories receive for their goods, has fallen steadily for nearly three years in China in a prolonged bout of deflation. The long-running issue spilled over into global markets as low-priced Chinese exports worsen trade friction with key trading partners including the United States and Europe. Solar panel glass makers agree to cut output by 30 per cent. In a series of recent statements, the Chinese government and industry associations have signaled they're getting serious about reining in cut-throat competition, known as invollution or 'neijuan' in Chinese. The top 10 makers of glass for solar panels agreed on June 30 to shut kilns and cut production by 30 per cent, an industry association said. The government has launched an auto safety inspection campaign, addressing concerns that automakers were skimping on quality to cut costs. It's unclear whether these efforts will succeed, but the sense that China may finally be tackling this chronic problem was enough to spark a rally in stocks in some of those under-pressure sectors. Shares of Liuzhou Iron & Steel Co. gained 10 per cent on Friday and have risen more than 70 per cent since June 30. Solar panel glass producer Changzhou Almaden Co. fell at the end of last week but is still up about 50 per cent. More broadly, two exchange traded funds in solar panels and steel have risen about 10 per cent, outpacing a 3.2 per cent rise in the Shanghai Composite, China's leading market index. The performance of EV-maker stocks has been mixed, with Li Auto and Nio recording double-digit percentage gains while market leader BYD declined. Foreigners can't buy Chinese stocks directly but they are able to invest in about 2,700 stocks and 250 exchange traded funds through the Hong Kong exchange. Government calls intense price wars 'disorderly' The gains follow high-level government pronouncements against disorderly price wars. On June 29, the People's Daily newspaper, the mouthpiece of the ruling Communist Party, ran a lengthy page one article on involution, saying they run counter to the party's goal of high quality economic development. Chinese leader Xi Jinping weighed in at a closed-door economic meeting, calling for better regulating competition and incentives by local governments to attract factory investments that are blamed for overinvestment in affected industries. The tougher talk began with a focus on automakers in late May, specifically around electric vehicle price wars that began more than three years ago. Analysts at investment bank UBS said the shift is good news for auto industry profits and company stocks. 'Though it's difficult to imagine a sudden U-turn of the industry from fierce competition to orderly consolidation, it's indeed possible to have near-term ceasefire of the price war,' they wrote. Weak demand and overcapacity bring a fight for survival After BYD launched another round of price cuts on May 23, some competitors, the main industry association and government all called for fair and sustainable competition. The EV battery industry, the cement association and major construction companies have issued statements echoing calls for an end to excess competition. The term involution, which suggests a spiraling inward and shrinking, was initially applied in China to students and young workers, who felt they were caught up in meaningless competition that led nowhere as the job market weakened and wages stagnated in recent years. At the industry level, it has come to mean sectors that have too many companies competing for a slice of the pie, leading to fierce price cutting to try to gain market share. The mismatch between production capacity — how much an industry can make — and actual demand for the product, reflects overcapacity that forces companies to compete for survival in a limited market space, said a recent article in the Communist Party magazine Qiushi. Obstacles to fixing the problem Some Chinese industries, especially steel and cement, have long suffered from overcapacity. A government push to promote green industries has fostered similar problems in that sector, including solar panels, wind turbines and electric vehicles. A flood of Chinese exports is leading to more trade barriers in Europe and the U.S. and in some emerging markets such as Mexico, Indonesia and India. Ultimately, economists say industries need to consolidate through company mergers and bankruptcies. But the process will take time. A major obstacle is provincial governments that want to protect local companies and jobs. Alicia García-Herrero, the chief economist for Asia-Pacific at the Natixis investment bank, said that recent comments by top Chinese economic officials suggest they realize something needs to be done. 'How much is action versus words, I don't know,' she said. 'But I do think it's a big problem for China.' Associated Press researcher Yu Bing contributed. Ken Moritsugu, The Associated Press
Associated Press
13-06-2025
- Automotive
- Associated Press
New Central SOE Mechanism Upgraded, AVATR Enters A New Stage of High-quality Development
Chongqing, China, June 13, 2025 -- With the restructuring of China South Industries Group Corporation completed, Changan Auto officially became an independent central SOE under the direct supervision of the State-owned Assets Supervision and Administration Commission of the State Council. As the high-end new energy brand under Changan Auto, AVATR simultaneously entered the new central SOE operation system, marking a key leap in system optimization and strategic advancement. Changan Automobile and CATL serve as the first and second largest shareholders respectively, with Changan Automobile holding a 40.99% stake and CATL holding 14.1%. Following the implementation of the 'new central SOE' system, the synergy momentum of this open cooperative model will be further released, laying a solid foundation for AVATR's next stage of product evolution, technology implementation, and global expansion. Media experienced AVATR at Chongqing Auto Show Currently, AVATR has launched four major models over three years, covering both BEVs and REEVs. As of May 2025, AVATR's cumulative sales exceeded 150,000 units, with monthly deliveries surpassing 10,000 units for three consecutive months, an average selling price of RMB 270,000, securing its place among leading brands in the premium intelligent EV market. Leveraging the resource integration efficiency and organizational execution brought by the 'new central SOE' mechanism, the brand's product deployment and market responsiveness are expected to improve continuously. In terms of design, AVATR has always adhered to 100% original expression, forming a highly recognizable futuristic aesthetic design language. On the technology front, AVATR possesses leading technologies such as the self-developed 'Kunlun Intelligent REEV System' and 'Taihang Intelligent Chassis'. With the support of the new central SOE system, AVATR's original design and technological advantages will be further translated into market competitiveness, providing strong momentum for the brand's high-quality development. Media reviewed AVATR 06 On the capital side, AVATR completed a Series C financing exceeding RMB 11 billion in 2024, the largest single financing project for a Chinese smart car company that year. After entering the new central SOE system, the brand will gain more stable support in terms of institutional assurance and resource integration, further improving capital operation efficiency and strategic implementation capabilities. Media covered AVATR at Chongqing Auto Show Looking ahead, AVATR will accelerate the construction of a complete high-end intelligent product matrix under the 'new central SOE' system. In 2026, it will launch a million-level six-seat flagship SUV to further enhance the luxury attributes of its products. By 2030, it will release 17 all-new models, covering sedans, SUVs, MPVs, and sports cars. In overseas markets, AVATR plans to enter over 50 countries and regions in 2025, establish more than 160 sales channels, and aim for overseas sales of 15,000 units; By 2027, that number will increase to 60,000 units. In terms of global sales, AVATR is expected to exceed 800,000 units by 2030 and reach 1.5 million units by 2035. Media attended AVATR launch event At this new starting point as a 'new central SOE', AVATR will receive multi-faceted support in the system, talent, capital, and industrial collaboration, and continue advancing high-quality development driven by original design and leading technologies, steadily moving toward the goal of becoming a global leader in high-end intelligent electric vehicles. About AVATR AVATR is a high-end intelligent electric vehicle brand under AVATR Technology, focusing on research and innovation in the field of future mobility. With forward-looking design and warm technology, we continuously create travel experiences that lead the future. The company is headquartered in Chongqing, China, with branches in Shanghai and Munich, Germany. Contact Info: Name: Mr. Hansen Li Email: Send Email Organization: Public Relations Department, AVATR Address: 10th Floor, Tower A, Phase 1, Financial Street, No. 1539 Zhongxing Road, Jing'an District, Shanghai Website: Release ID: 89162267 In the event of encountering any errors, concerns, or inconsistencies within the content shared in this press release, we kindly request that you immediately contact us at [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will be readily accessible to address your feedback within 8 hours and take appropriate measures to rectify any identified issues or facilitate press release takedowns. Ensuring accuracy and reliability are central to our commitment.
Business Recorder
01-05-2025
- Automotive
- Business Recorder
Master Changan Motors honored with prestigious Global Awards
Master Changan Motors Limited (MCML), a joint venture partnership between the conglomerate Master Group of Industries and China's leading automaker Changan Automobiles, has proudly secured global recognition at the Changan Automobile Global Partner Conference 2025, a landmark event celebrating outstanding contributions from Changan's international partners. The company was coveted with 2 Global Awards - Marketing Achievement Award, and the most prestigious Panda Award for being the major contributor to the Vast Ocean Plan, in acknowledgment of its exceptional performance in building brand equity, for ranking #1 best-selling Chinese player in Pakistan and #4 best-selling amongst all other brands and achieving one of the highest sales volumes in Changan Global. The Marketing Excellence Achievement Award was presented in recognition of Master Changan Motors building Changan & Deepal as Pakistan's most loved and innovative using consumer focused and creative strategies such as innovative digital launches to exclusive events, creating a deep connection with its consumers. This has played a pivotal role in establishing Changan & Deepal as one of the most trusted, loved and forward-thinking automotive brands in Pakistan. Mr. Ali Asghar Damani, Chief Operating Officer of MCML, received the Marketing Excellence Achievement Award. Speaking on the occasion Damani said, 'This award is a proud moment for Pakistan and a testament to the vision, creativity, and dedication of our entire marketing and retail network. Together, we have reshaped perceptions and created meaningful connections between our brand and the people of Pakistan. We look forward to setting even higher benchmarks as we continue this exciting journey. The highlight of the evening was winning the most prestigious Global Award- the Panda Award for being one of the largest contributors to Changan Auto's global expansion plans. This award was received by Mr. Danial Malik, Chief Executive Officer, for Master Changan Motors' outstanding contribution to Changan's globalization Vast Ocean Plan and for being one of its highest selling markets. Malik, CEO of MCML, expressed his pride on this milestone, stating, 'These awards are not just accolades, they are a reflection of the trust our customers place in us, the vision we share with Changan Auto, and the incredible work of our dealer partners and entire team. We are proud to represent Pakistan on this global stage and remain committed to driving progress, innovation, and value for our market and beyond.' During this Global Conference and the Shanghai Autoshow 2025, Master Changan Motors brought the largest delegation not only amongst all international markets but also the largest in the history of Pakistan with over 50 delegates, including 30+ dealer partners and MCML's leadership team. Underlining the strength of the partnership between Master Changan Motors and Changan Auto, reaffirming Pakistan's strategic importance in Changan's global vision. Master Changan Motors, as a proud contributor to this vision, continues to set benchmarks for excellence and collaboration, reaffirming Pakistan's role in shaping the future of global mobility.
