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, leveraging its substantial capital and asset base [1] Group 1: Strategic Choices - Changan has a historical connection with Chongqing, having relocated there during the Second Sino-Japanese War, and has integrated deeply with the city's character [2] - In 2024, Chongqing's new energy vehicle production is projected to reach 953,200 units, providing new momentum for the city's development [2] - The Chengdu-Chongqing economic circle has formed a competitive automotive industry cluster, accounting for approximately 12% of the national automotive production [2] - Chongqing's automotive industry features a complete supply chain with 45 vehicle manufacturers and over 1,600 parts suppliers, generating an annual output value exceeding 600 billion yuan [2] - The local supply rate for Changan's production is expected to increase from 38% in 2023 to 45% in 2024, potentially driving the city's automotive parts output value to surpass 350 billion yuan [4] Group 2: Innovation and Development - Changan's smart factory has achieved a 40% increase in manufacturing efficiency through over 40 independent research and development technologies [3] - The company has a daily average of 19 patent applications over the past three years, showcasing its commitment to innovation [3] - Changan's electric drive system efficiency reaches 95%, and its battery technology can withstand temperatures as low as -30 degrees Celsius [3] - The company aims to produce 1.5 million vehicles in Chongqing by 2025, generating an output value of 160 billion yuan [3] Group 3: Future Outlook - Changan plans to leverage its strengths in the western region to expand its market reach globally, with a focus on the Belt and Road Initiative [6][7] - The company has established a collaborative model with 680 core suppliers, enhancing its production capabilities and supporting hydrogen corridor projects [6] - By 2030, Changan aims to achieve a new energy production capacity of over 3 million units in Chongqing, contributing to a trillion-yuan automotive ecosystem in the region [6] - The company is expanding its international presence, with production lines in Thailand and plans for a European innovation center and a manufacturing base in Mexico [6]