Core Insights - Chengdu is focusing on the development of the intelligent connected vehicle industry, aiming to upgrade its automotive sector and address industry challenges through direct communication between government and enterprises [2][9]. Industry Overview - The automotive industry is the second-largest pillar of Chengdu's economy, with a revenue of 118.34 billion yuan and a production of 629,000 vehicles from January to September 2023, showing a year-on-year growth of 19.6% and 26.4% respectively [2][7]. - New energy vehicles (NEVs) have seen a significant increase, with a production of 173,000 units, up 259.2%, and revenue of 20.08 billion yuan, up 80.9% [2][7]. Company Developments - FAW Toyota has reported a production of 112,800 vehicles in the first three quarters of 2023, a 91% increase, with an expected annual production of 145,000 units [3][5]. - Sichuan Lynk & Co has emerged as a key player in NEV manufacturing, producing 178,700 vehicles in the first nine months, a 196% increase, with NEV production reaching 146,900 units, up 626% [7][8]. Policy and Support - Chengdu's government is actively formulating policies to support both NEVs and traditional fuel vehicles, aiming to create a balanced environment for the automotive industry [5][9]. - The city has established a dedicated team to oversee the development of the intelligent connected vehicle industry, aiming for a production target of 1.5 million vehicles and a revenue target of 300 billion yuan by 2030 [9][11]. Market Positioning - Chengdu aims to re-enter the top tier of automotive manufacturing cities in China by 2030, leveraging its existing industrial base and innovative capabilities [9][11]. - The city is recognized as a leading area for NEV adoption, with a total of 1.1818 million NEVs, ranking first among non-restricted purchase cities in China [11].