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Guangzhou Automobile Group will increase 15 billion Yuan to improve the ability of independent research

Daisy Huang From 盖世汽车| September 01 , 2017

GAC development investmentGAC new energyGAC development investment, GAC new energy

Internet Info Agency learned from Guangzhou Automobile Group that on August 29th, the group made an announcement which showed that the Chinese Commission has approved GAC’ s application for an increase of 15 billion Yuan to mainly improve the product development capabilities of independent brands, including product development, capacity expansion, intelligent network development of new energy and the normal supply of core components (including domestic and imported).

GAC 2017 report shows that in the first half of 2017, the total revenue reached 34 billion 765 million Yuan, an year-on-year increase of 62.23%; net profit attributable to shareholders of listed companies reached 6 billion 183 million Yuan, an increase of 55.29%. The basic earnings of per share are about 0.98 Yuan, about an increase of 54.86% than the same period last year.

Independent brand is the most profitable part

Four main joint venture brands of GAC in July all realized growth, thanks to the bidirectional growth of joint venture brands and independent brands, from the beginning of 2015, Guangzhou Automobile Group has achieved 1 million 300 thousand sales volume, and this data has increased by 350 thousand in 2016.  From January to July this year, the car sales have reached 1 million 120 thousand vehicles, an increase of 30%, which is close to annual sales performance in 2015. This makes the GAC's sales growth rank first in the six big automobile groups, and it is also the first time GAC to achieve a double harvest of scale and profit.  And the sales revenue of passenger car reached 25 billion 70 million Yuan.

Develop intelligent network technology of new energy and build specific industrial park

On July 28th, Guangzhou New energy vehicles Company Limited (hereinafter referred to as the Guangzhou new energy) was formally established, in the future the company will be responsible for the research and development, vehicle design, manufacturing, sales and other functions. It is understood that the first model of the company will be officially launched in 2019.

In addition, in the first half of this year, GAC also announced to establish Guangzhou New energy vehicles Industrial Park and to create an open and sharing platform of intelligent manufacturing, the park is scheduled to be completed by the end of 2018.

At the technical level, Guangzhou new energy will focus on the development of five core technologies, including battery, motor, electric control, electromechanical coupling and system integration. At present the mileage of its new energy vehicle is about 300 kilometers, after the cell density is improved, the company will gradually improve product mileage, in 2020, without any increase in the battery weight, the mileage is expected to achieve 500 km only by increasing the cell density.

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