GAC plans to have 20% of car sales be new energy vehicles by 2025
Chinese carmaker GAC Group said it plans to have 20 percent of its car sales be new energy vehicles and more than 20 percent be hybrids by 2025, according to a report by Cls.cn on Monday.
GAC also plans to make its own brand of new energy vehicles account for more than 36 percent of all sales and hybrid vehicles account for more than 15 percent by 2025.
The company said it will produce and sell 5 million vehicles by 2035, with fuel-efficient vehicles and new energy vehicles accounting for 50 percent each.
GAC plans to launch 10 hydrogen fuel cell vehicles in the Guangdong-Hong Kong-Macau Greater Bay Area this year through its ride-hailing firm OnTime.
In addition, the company's strategic partnership with Tencent will be signed soon.
GAC AION's fourth model, the AION Y, went on sale Monday with a pre-sale price starting at RMB 105,900 ($16,229) after subsidies.
GAC previously said that the AION LX, which is equipped with a silicon sponge negative electrode battery, will be in mass production this year.
The company's L4 self-driving car, developed in partnership with Huawei, will be in mass production by 2024.