BEIJING — China’s Changan aims to sell 3 million vehicles a year in 2025, and 4.5 million annually in 2030, its Chairman Zhu Huarong said.
Zhu said 35 percent of its sales in 2025 will be new energy vehicles (NEVs), including full-electric, plug-in hybrid and hydrogen fuel cell vehicles.
In 2030, 60 percent of its sales will be NEVs. Sales outside China will account for 30 percent of its business in 2030, Zhu added.
Changan, which operates a joint venture with Ford, sold 2 million vehicles last year.
The Chongqing-based company, which is developing electric vehicles with Huawei Technologies and battery maker CATL, plans to invest 150 billion yuan ($23 billion) in the smart EV industry in the next five years.
China, the world’s biggest auto market, is accelerating development of electric vehicles to improve vehicle technologies and combat pollution. Authorities expect 20 percent of overall sales in 2025 will be NEVs.
Changan’s local rival Geely aims to sell 3.65 million cars a year in 2025 while Great Wall is targeting 4 million.