Core Viewpoint - The establishment of China Changan Automobile Group Co., Ltd. aims to contribute to the development of a world-class intelligent connected new energy vehicle industry cluster in Chongqing, with a registered capital of 20 billion yuan and total assets of 308.7 billion yuan [1]. Strategic Choices - Changan has a deep historical connection with the nation, evolving alongside Chongqing since its relocation during the Second Sino-Japanese War in 1937 [2]. Industry Development - In 2024, Chongqing's new energy vehicle production is projected to reach 953,200 units, contributing to the city's economic growth [3]. - The Chengdu-Chongqing economic circle has formed a competitive automotive industry cluster, accounting for approximately 12% of the national automotive output, with over 45 vehicle manufacturers and more than 1,600 parts suppliers [3]. - Chongqing's automotive exports reached 214,000 units in the first half of the year, with an export value of 17.84 billion yuan, including 5.55 billion yuan from electric vehicles, marking a 53.3% year-on-year increase [3]. Innovation and Development - Changan's smart factory has achieved a 40% increase in manufacturing efficiency through over 40 independent research and development technologies [4]. - The company has a daily average of 19 patent applications over the past three years, with significant advancements in electric drive systems and battery technology [4]. - AEB (Automatic Emergency Braking) system usage has exceeded 400,000 times, enhancing vehicle safety [4]. Future Outlook - Changan aims to increase local parts supply from 38% in 2023 to 45% in 2024, potentially driving the city's automotive parts output to over 350 billion yuan [5]. - The company plans to produce 1.5 million vehicles in Chongqing by 2025, generating 160 billion yuan in output [4]. - Changan is expanding its global footprint, with plans for a battery materials base in Yibin and a smart cockpit R&D center in Mianyang, targeting a production capacity of over 3 million new energy vehicles by 2030 [6]. Global Expansion - Changan's overseas sales are projected to reach 30% by 2027, reinforcing Chongqing's position as an automotive hub along the Belt and Road Initiative [7].