Chongqing - As intelligent connected vehicles (ICVs) and new energy vehicles (NEVs) production grows nationally and in Chongqing, expanding the market becomes crucial for ensuring the industry's high-quality growth.
The remarks were made by Yang Min, a member of the Chongqing Municipal Committee of the Chinese People's Political Consultative Conference and chairman of Chongqing Bescar Automobile Co., Ltd., during a press conference for the second session of the sixth Chongqing Municipal Committee of the Chinese People's Political Consultative Conference on January 21.
According to data from the China Association of Automobile Manufacturers (CAAM), in 2023, China's NEV sales reached 9.4 million, constituting 37% of the market, and vehicle exports surged to 4.91 million, a 57.9% increase from the previous year. NEV exports alone reached 1.2 million, a 77.6% YoY increase, solidifying China as the world's leading automobile exporter, surpassing Japan.
In 2023, Chongqing produced and sold over 500,000 NEVs, a 30% increase from the previous year. Looking ahead to 2024, local auto companies target making and selling 1 million ICVs and NEVs, aiming for a 10% national market share.
A team researches Chinese solutions for ICVs. (Photo/Zeng Cheng)
Yang highlighted the importance of focusing on domestic and international markets to boost the overall automotive sector. He noted the significance of enhancing automobile export transportation capabilities to penetrate global markets.
He called for increased financial backing, advocating for more local and international bank involvement in providing overseas customers with automotive financial products.
A key strategy involves substantial investments in transportation infrastructure. Yang pointed out the critical need for developing and upgrading key corridors like the China Railway Express (Yuxinou) and the New International Land-sea Trade Corridor (ILSTC), which are essential for expanding automobile exports.
He also recommended that exporting firms prioritize product quality, ensuring they align with local markets' unique demands and preferences. This approach is critical to bolstering their presence on the global stage and establishing a solid international reputation.
Tu Xingyong, deputy director of Chongqing Municipal Commission of Economy and Information Technology, emphasized Chongqing's impressive achievement in automobile production, ranking second nationwide last year.
Chongqing-manufactured vehicles substantially impacted the international market, with exports reaching over 80 countries and regions in 2023. The city exported 368,000 vehicles, marking a 29.8% increase from the previous year, and the export value reached 33.17 billion yuan, reflecting a 51.9% year-on-year growth.
In 2024, Chongqing sets ambitious goals for its automobile manufacturing sector, aiming for an output value of 550 billion yuan, reflecting a 14.5% increase from the previous year. The production target is set at 2.6 million vehicles, up by 12.2% compared to last year.
By 2027, Chongqing is determined to elevate its automotive sector further. Goals include increasing the production and sales of ICVs and NEVs to over 2 million, with automobile exports comprising 10% of the national total. This growth will propel the industry's scale beyond the trillion yuan mark.
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