GAC Group shows Chinese carmakers are at forefront of mobility
GAC Group has joined hands with a number of companies to develop internet-connected vehicles, intelligent driving, cloud platforms and big data, including Tencent, telecom equipment maker Huawei Technologies and telecom operator China Mobile.
During the annual Guangzhou auto show in November, GAC Group unveiled its iSPACE electric concept car equipped with Tencent's AI in Car system, which allows drivers to better interact with the vehicles.
GAC Group has been one of the most innovative and successful carmakers in China. With annual sales revenue of some 280 billion yuan, it has been on the list of Fortune 500 companies for five years in a row.
It produced and sold about 1.65 million vehicles in the first 10 months of this year, a year-on-year increase of nearly 26 percent, some 20 percentage points higher than the industry's average growth rate.
Its subsidiary, GAC Motor, is growing even faster. As one of the fastest growing carmakers in China, it has seen an annual compound growth rate of 85 percent over the past six consecutive years.
GAC Motor is the first Chinese carmaker that has a full range of C-class models. Its GA8 sedans, GS8 SUVs and GM8 MPVs have been chosen as official cars for the Fortune Forum's participants including government heads, senior business executives and leading economists.
It has consolidated its leading position by retaining its position as the highest-ranking Chinese brand in the JD Power Asia Pacific's 2017 China Initial Quality Study, a title it has retained for the fifth consecutive year.
The company's best-selling innovative SUV model GS4 ranked No 1 in the study's compact SUV category of Chinese brands.
GAC Group has been well received globally for the world-class quality of its large lineup of products.
For three years in a row it has been exhibiting its models at the North American International Auto Show in Detroit, the United States. GAC Group has been the first Chinese carmaker to appear in the main halls of the show.
Rod Alberts, managing director of the show, extended an invitation to GAC Group to attend the show again in 2018 after learning about its plans at the Guangzhou auto show in November.
GAC Group is planning to further expand its overseas presence. Its subsidiary GAC Motor has built sales and service networks in 14 countries and regions including Kuwait, Chile, Cambodia and Nigeria.
It plans to make inroads into the US no later than 2019, and is already preparing for this in terms of products and dealerships.
Earlier this year, it held recruitment fairs in several cities in the US. It has built an R&D center in Silicon Valley and is planning to establish a design studio in Los Angeles.
It is expected that by 2020 GAC Motor's overseas sales revenue will account for 5 percent to 10 percent of its total sales.
GAC Group said that it will continue its efforts to enhance its brand recognition and influence so as to build itself into a world-class brand.