GUANGZHOU, China, Aug. 13, 2021 /PRNewswire/ -- For almost 25 years, GAC has strengthened independent innovation on the basis of joint ventures and cooperation, as well as through extensively funding of the GAC R&D Centers. This investment in technology has yielded great results: as of August 2, 2021, GAC had jumped 30 places up on the Fortune 500 list to 176th.
Despite a global downturn, GAC achieved revenue growth of over 5% in 2020, and sales of over 2 million models. Figures for first half of 2021 were especially impressive, with overall sales increasing by over 25%.
At the GAC Group 2021 Investors' Day, GAC presented some of the astounding technological achievements which will form the foundations of future growth, into a global top-tier automobile manufacturer.
Connectivity, New Energy | The Coming Years at GAC
"No technology, no GAC." This motto neatly encompasses the development strategy of GAC and its subsidiaries.
At the center of the GAC plan are the two tenets of smart connectivity and new energy.
GAC group has recently developed and upgraded multiple vehicle technologies, including the L2++ driving assistance system; experienced the Robotaxi, an L4 self-driving car; the Magic Box, a striking concept car developed by GAC; and the GIEC, one of China's most advanced intelligent cockpits.
Over the next five years, GAC Group will focus on comprehensively improving independent innovation, and realizing high-quality development in five areas: electrification, smart connectivity, digitization, communalization and internationalization.
One aspect of this is the new GAC New Energy Vehicle Industrial Park, which will focus on EV (pure Electric Vehicle) + ICV (Intelligent Connected Vehicle) production, of key importance in the shift towards greener, low-carbon and sustainable vehicles and production. Excitingly, GAC is also working closely with tech giant Huawei on the production of a high-end autonomous car for the private market, due to enter mainstream production by 2023.
Striving for better
Placing 176th on the Fortune 500 is representative of the hard work and cohesion of the multi-faceted GAC Group workforce. It is an achievement to be proud of, but GAC is committed to striving for better, surpassing its previous limits to climb higher and higher on the world stage.
GAC is more than ready for the next five years. Let's go!