ChangAn Automobile´s ambitions

ChangAn Automobile´s ambitions

1. Invest $5 billions in R&D in 5 years
2. Sell 6 million cars per year in 2020.

Changan to invest over 30b yuan in R&D by 2015

(Shanghai April 9, 2013) – Changan Automobile plans to invest over 30 billion yuan ($4.79b) in developing its independent R&D ability from 2011 to 2015, Beijing News reported today, citing a statement made by the manufacturer’s General Manager Zhang Baolin at Boao Forum for Asia’s recently concluded Opening Up and Integration of the Automobile Industry roundtable discussion. The manufacturer has invested 12 billion yuan ($1.92b) in R&D from 2006 to 2010.

According to Mr. Zhang, Changan will continue making investments to expand its core R&D ability. The manufacturer has already invested over 66 billion yuan ($10.55b) in R&D, establishing centers researching vibrations, crash testing, braking capabilities, chassis technology and drive systems. Changan already independently possesses 262 of the 286 internationally recognized key automobile technologies.

“We will continue to invest approximately four percent of our sales income every year in R&D,” Mr. Zhang said, adding that Changan will continue to follow trends in the Chinese automobile industry. Mr. Zhang also confirmed that the manufacturer aims to sell six million vehicles annually before 2020, with 50 percent to 60 percent of those sales being of own brand models. Changan expects its total automobile sales for this year to exceed two million units this year, 12.5 percent higher than the amount it sold in 2012.