Guangdong targets 1.1 trillion yuan revenue in carmaking sector by 2025
On August 9, the Guangdong government issued the Fourteenth Five-Year Plan for the High-Quality Development of Manufacturing in Guangdong Province.
The plan proposes accelerating the development of new energy vehicles and improving the R&D of hybrid vehicles, pure electric vehicles, and hydrogen fuel cell vehicles.
The province will also focus on increasing the R&D of motors, batteries and electronic control systems and speed up building supporting infrastructure for new energy vehicles.
By 2025, the business revenue of the automobile manufacturing industry is expected to exceed 1.1 trillion yuan, forming an automobile industry cluster with international influence.