China Changan Automobile Group Co., Ltd was established as a state-owned enterprise (SOE) under the central government on Tuesday in Chongqing Municipality, where its headquarters is located, with the aim of boosting the competitiveness of China's automotive industry.
The automaker, spun off from China South Industries Group Corporation, operates 117 subsidiaries focusing on complete vehicle and auto parts manufacturing, auto sales, financial and logistics services, and motorcycle production.
According to a senior executive of the automaker, the company will prioritize developing new quality productive forces such as automotive robots, flying cars, and embodied AI, while accelerating expansion into markets including Southeast Asia, Central and East Africa, Central and South America, Eurasia, and Europe.
This reorganization marks a critical step in China's SOE reform and optimization of state capital allocation, while also serving as a strategic move to enhance the competitiveness of China's automotive sector.
Chinese carmaker Changan established as central SOE in Chongqing
