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Ride Radar > Blog > Manufacturing > GAC Group targets 2m annual sales for own brands
Manufacturing

GAC Group targets 2m annual sales for own brands

Last updated: November 18, 2024 2:55 pm
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GAC Group, a prominent automotive company, recently showcased its self-owned brands at the 22nd Guangzhou International Auto Show. The event featured the unveiling of three new models that highlight the company’s commitment to innovation and advanced technology.

One of the standout models presented was the S7, which GAC described as its first advanced intelligent vehicle. The S7 features AI-driven ambient lighting with eight preset expressions for personalized interaction, showcasing the brand’s focus on integrating cutting-edge technology into their vehicles. Additionally, the Aion UT, the third global strategic model from Aion, and the HYPTEC HL, GAC’s luxury intelligent flagship SUV, were also introduced at the show. The HYPTEC HL combines yacht-style wraparound design with zero-gravity seats for a luxurious electric driving experience.

In addition to the vehicle debuts, GAC Group announced its three-year strategic initiative called “Panyu Action.” This initiative aims to increase the share of self-owned brands to over 60% of total group sales by 2027, with a target of achieving 2 million units in annual sales. The “Panyu Action” initiative is designed to enhance operational efficiency and position the company for sustained high-quality development.

Feng Xingya, President of GAC Group, expressed optimism about the company’s future, stating, “GAC Group has taken a solid step forward in its new phase of transformation. We will forge ahead with determination and live up to expectations, presenting an all-new GAC to everyone over the next three years.” The company has invested over 50 billion yuan in independent research and development and plans to invest an additional 50 billion yuan in the next three years to support the “Panyu Action” initiative.

See also  Chinese brands help drive global EV market growth

Furthermore, GAC International President Wei Haigang highlighted the company’s global expansion strategy, with plans to reach 100 countries and regions by 2027 and export 500,000 vehicles. The new models showcased at the Guangzhou International Auto Show demonstrate GAC Group’s commitment to leading the smart electric vehicle market and expanding their presence in international markets.

Overall, GAC Group’s presence at the auto show underscores their dedication to innovation, advanced technology, and global expansion. The company’s strategic initiatives and new models showcase their vision for the future of the automotive industry.

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