Changan unveiled as centrally-owned enterprise

China Changan Automobile Group Co was unveiled in Chongqing on Tuesday as a centrally-owned enterprise, the third in China's whole car manufacturing segment after FAW and Dongfeng.

The new automaker emerges from the restructuring of the China South Industries Group, one of China's leading military-industrial conglomerates.

The new Changan will oversee 117 subsidiaries and operate across a wide spectrum of businesses, including passenger and commercial vehicle manufacturing, auto parts, financial and logistics services, and motorcycles, according to a company statement.

Executives say Changan will focus on emerging technologies such as intelligent vehicle robots, flying cars, and embodied AI, as part of efforts to cultivate "new quality productive forces".

The group also plans to explore land-sea-air integrated mobility solutions, and aims to accelerate its global expansion in five regions: Southeast Asia, the Middle East and Africa, Latin America, Eurasia, and Europe.

In the first half, Changan saw its global sales hit 1.355 million vehicles, a 6.8 percent year-on-year increase and the highest first-half volume since 2018.

Sales of new energy vehicles reached 448,000 units, up 52.3 percent year-on-year, accounting for 33.1 percent of total sales. Overseas sales exceeded 300,000 units, marking a robust 49 percent increase from the same period last year.

In the NEV segment, Changan's Deepal brand delivered over 120,000 units in the first half. Meanwhile, high-end EV brand Avatr recorded cumulative sales of over 150,000 units.