Chongqing - On July 30, the new leadership of Changan Automobile Group unveiled its ambitious global strategy at the first media briefing after it was officially upgraded in Chongqing one day before as China’s third centrally administered automotive SOE.

As a central State-owned enterprise (SOE), Changan Automobile Group aims to grow into a globally competitive, world-class automaker with its independent core technologies, said Zhu Huarong at the briefing, who serves as Party Secretary and Chairman of the Group.

Accelerating globalization is a key strategy for Changan Automobile Group. According to Zhu, the Group will focus on vehicle manufacturing while integrating parts, logistics, and financial services to build a globally-oriented enterprise ecosystem. 

By 2025, it plans to sell three million vehicles —one million of them new energy vehicles (NEVs)—and reach annual revenue of 355 billion yuan, added Zhu, who also chairs Changan Automobile, the Group's core vehicle subsidiary.

By 2030, it plans to sell over five million vehicles annually, with revenue reaching RMB 600 billion and a position among the world’s top 10 automakers. Of this, NEVs will account for three million units, and overseas markets will represent over one-third of total sales.

At the briefing, Zhu said that in 2025 H1, the Group recorded revenue of 146.9 billion yuan and sold 1.355 million vehicles—its highest in nearly eight years. Of these, 452,000 were  NEVs, up 49.1% year-on-year, while overseas sales reached 299,000 units, a 5.1% increase.

Registered with 20 billion yuan (2.78 billion USD) in capital, the Group operates in vehicles, parts, finance, logistics, and motorcycles. It owns 117 subsidiaries—including Changan Automobile and Harbin Dongan Auto Engine—manages 308.7 billion yuan in assets, employs around 110,000 people, and generates annual revenue of 340 billion yuan.

Changan sets sights on five global markets

Zhu noted that the Group has greater flexibility in expanding overseas as a spin-off from a military-industrial SOE. Looking ahead, it will prioritize growth in five regions: Southeast Asia, the Middle East and Africa, Latin America, Eurasia, and Europe.

In the NEV sector, Zhu projected that future vehicles will evolve into “intelligent, upgradeable automotive robots.” Over the next five years, the Group plans to launch more than 50 NEV models globally, including at least seven flagship products with expected annual sales of over 300,000 units each. Deng Chenghao, President of Deepal, announced that the Group will launch its first product since its establishment—the long-range version of the Deepal S05—on August 1.

To drive integration between the automotive industry and frontier technologies, the Group will invest over 200 billion yuan in the next decade in areas such as vertical AI models, optical, and quantum computing.

It also plans to recruit more than 10,000 R&D personnel, transforming scientific exploration into market-ready products. The Group will further enhance industrial resilience and supply chain security through vertical integration of its operations and closer coordination across the components sector.

Zhu also outlined plans to expand into emerging sectors, including commercial intelligent driving, flying cars, humanoid robots, and broader mobility solutions. The Group will deepen partnerships with global automakers such as Stellantis, Ford, and Mazda, and foster cross-sector alliances with ICT and consumer electronics firms like Huawei.

Zhu Huarong, Chairman of China Changan Automobile Group, introduced key information about the Group at the media briefing held on July 30. (Photo/Changan)

Ownership shift sharpens Changan’s control

Changan Automobile Group was formed through a spin-off from China South Industries Group Corporation (CSGC), following State Council approval in June to create a new central SOE under the sole oversight of the State-owned Assets Supervision and Administration Commission (SASAC). 

As part of the restructuring, the Group now holds a 35.04% combined stake in its core brand, Changan Automobile, becoming its indirect controlling shareholder, while SASAC remains the ultimate controller.

Previously, CSGC held 14.23% of Changan Automobile directly and 25.46% indirectly through entities including Chenzhi Group, totaling 39.69%. After the restructuring, the Group now holds 14.23% directly and 20.81% indirectly via Chenzhi Group and another company, for a total stake of 35.04%, reflecting a more streamlined ownership structure.

With the establishment of the Group, SASAC now directly oversees three central SOEs in the automotive sector: China FAW Group Co., Ltd. and Dongfeng Motor Corporation. Unlike previous reforms that relied heavily on “scale mergers” by consolidating multiple enterprises, the formation of China Changan represents a structural spin-off from an existing first-tier SOE.

Notably, before the spin-off, SASAC had considered merging CSGC’s automotive operations with Dongfeng to create a new SOE under the traditional integration model. However, that plan was shelved.

According to the China Association of Automobile Manufacturers (CAAM), in the first half of 2025, FAW and Dongfeng sold 1.571 million and 1.055 million vehicles, respectively. FAW and Changan posted growth of 6.2% and 1.6% year-on-year, while Dongfeng's sales fell by 15.8%.

Amid a fiercely competitive market, central SOEs also face strong pressure from private automakers. Data from the China Passenger Car Association (CPCA) shows that in 2025 H1, the top three companies in terms of retail sales of passenger vehicles were BYD (1.61 million), Geely (1.226 million), and FAW-Volkswagen (744,000), with Changan Automobile ranking fourth at 690,000 units.