Qiyuan's product matrix will include the A-series, Q-series, and E0-series, with four models to be released within this year, including the A05, A06, A07, and Q05.
(Image credit: Changan)
Chinese automotive giant Changan Automobile has launched its new electric vehicle (EV) brand Qiyuan and announced ambitious sales targets.
Changan officially launched Qiyuan at a n event on August 27, hoping to create intelligent electric vehicles that can continue to evolve.
Qiyuan's logo blends "square" and "circle" from Eastern philosophy, and its design is based on 0 and 1, which means infinite possibilities, the company said.
Qiyuan's product matrix will include the A-series, Q-series and E0-series, with four models to be released during the year, including the A05, A06, A07 and Q05.
By 2025, Qiyuan's product matrix will have 10 products sold globally, Changan said.
Changan aims to invest a total of 200 billion yuan ($27.4 billion) by 2030, adding more than 10,000 people to its R&D and innovation teams to build a world-class automotive brand.
The automotive giant aims to sell 5 million vehicles annually by 2030. The company's sales target for the Changan family of brands is 4 million units by then, including 1.5 million for the Qiyuan brand.
The Qiyuan brand had been previewed 2 months ago, with its first Weibo post on June 26 on its Weibo account, a preview video about the Qiyuan A07.
The Qiyuan A07, which has already been entered into one of China's Ministry of Industry and Information Technology (MIIT) filing catalog, is a mid-to-large-size sedan with length, width, and height of 4,905 mm, 1,910 mm, and 1,480 mm, respectively, and a wheelbase of 2,900 mm.
Similar to Changan's other sub-brand Deepal, the Qiyuan A07 will be offered in a battery-electric vehicle (BEV) version as well as an extended-range electric vehicle (EREV) version.
To date, Changan has three EV brands under its umbrella, including Qiyuan, Deepal and Avatr.
($1 = RMB 7.2839)