00:05As China's automobile market recovers gradually from a slump earlier this year, global auto
00:10companies are ramping up investment to grasp opportunities in the world's largest auto
00:14market. The ongoing 19th China, Chongchun International Automobile Expo held in Chongchun,
00:21the capital of northeast China's Jilin province, sees a total of 155 domestic and overseas
00:27automobile brands and 128 enterprises register for the exhibition. Leading auto companies and more
00:33than 10 new energy vehicle brands are displaying their latest and highlighted models. Since the
00:38beginning of this year, global auto companies including Audi, BMW, and Volkswagen have been
00:44speeding up their expansion in China and launching a number of large NEV projects. Audi FAW, NEV project,
00:51with an investment of over 30 billion yuan, broke ground on June 28 in Chongchun.
00:56It is expected to have an annual production capacity of 150,000 vehicles. BMW Group's joint
01:02venture in China opened a new factory on June 23 in northeast China's Shenyang, with an investment
01:08totaling 15 billion yuan. It will boost BMW's annual output in China to 830,000 vehicles,
01:15the automaker said. Volkswagen Group China is also accelerating the process of vehicle
01:21electrification to promote the revolution of future transportation. Boosted by strong policy
01:26stimulus, China's auto sales regained strong momentum in June after dropping for three consecutive months.
01:33According to the China Association of Automobile Manufacturers, a total of 2.5 million vehicles
01:39were sold in June, up 23.8 percent from one year earlier. The association expects steady growth for the
01:46whole year, predicting annual sales of vehicles to reach 27 million units, up 3 percent year-on-year.
01:53According to the CAAM, in the first half of this year, 2.6 million NEVs were sold across the country,
01:59up 115 percent year-on-year, grabbing a 21.6 percent share of the auto market.
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