Shanghai (Gasgoo)- GAC Group announced that its 78th Board of Directors meeting approved the establishment of the GH Project Company (provisional name), with a registered capital of 1.5 billion yuan. Under the project, the duo is set to launch a new automobile brand, marking a significant step forward between them.
GAC Group's General Manager Mr. Feng Xingya shared the project's latest progress, revealing that Huawei's Intelligent Automotive Solution (IAS) Business Unit (BU) and GAC Group have already begun joint office operations, aiming to introduce a series of intelligent new vehicles. The first model is set to debut as a premium intelligent new energy vehicle (NEV) in the 300,000-yuan price range.
Previously, Mr. Feng emphasized that the cooperation between the two companies is a full-stack partnership, spanning product definition and development, vehicle manufacturing, sales services, and user ecosystem.
The GH project company signifies a deep integration of GAC Group's and Huawei's respective strengths, focusing on joint product definition and design. The duo will collaborate on product development, marketing strategies, and ecosystem services to create a new automotive brand built on cutting-edge technologies and an entirely new architecture.
In addition to working with Huawei, GAC Group continues to advance internal corporate transformations. The group has launched the IPD (integrated product development) and digital transformation project. With the IPD process, the group aims to focus its resources on key user priorities, establishing a new benchmark for demand management.
GAC Group also released the three-year "Panyu Action", aiming to achieve 60% of sales contributed by its wholly-owned brands and strive to sell two million vehicles under those brands by 2027.
Over the next three years, GAC Group plans to launch 22 new models under its self-owned brands, covering all mainstream new energy powertrains such as BEV (battery electric vehicle), REEV (rang extended electric vehicle), and PHEV (plug-in hybrid electric vehicle).
