The 100th central state-owned enterprise is born. China Chang'an Automobile is based in Chongqing. Zhu Huarong: More than 50 new energy products will be launched in the next five years.
On July 29, the founding meeting of China Chang'an Automobile Group Co., Ltd. (hereinafter referred to as "China Chang'an Automobile") was held in Chongqing. The original automobile business of China South Industries Group Corporation (hereinafter referred to as "CSIG") was officially separated and upgraded to an independent central state - owned enterprise. Chongqing welcomed its first headquarters of a first - level central state - owned enterprise.
Image source: Chang'an Automobile
China Chang'an Automobile is an automobile group established based on companies such as Chang'an Automobile, Chenzhi Group (Chenzhi Automobile Technology Group Co., Ltd.), and Chang'an Automobile Finance. It owns three new - energy automobile brands: Avatr, Deepal, and Changan Qiyuan. On July 27, the new company was registered and established in Chongqing with a registered capital of 20 billion yuan, and it is a wholly state - owned enterprise.
The official website of the State - owned Assets Supervision and Administration Commission of the State Council shows that in the new central state - owned enterprise, Zhu Huarong, the Party Secretary and Chairman of Chang'an Automobile, serves as the Party Secretary and Chairman; Zhao Fei, the Party Secretary and Chairman of Chenzhi Group, serves as the Deputy Party Secretary and Director, and is nominated as the candidate for General Manager; Tan Benhong, the Deputy Party Secretary of Chang'an Automobile, serves as the Deputy Party Secretary and Director.
On the afternoon of July 30, the first media communication meeting since the establishment of China Chang'an Automobile was held in Chongqing, and the core management team of the group company made a full appearance. Zhu Huarong said at the meeting that the goal of China Chang'an Automobile is to exceed 5 million in vehicle sales by 2030, with new - energy vehicles accounting for more than 60% and overseas sales accounting for more than 30%, striving to become one of the world's top ten automobile groups.
Zhu Huarong also said that as a new central state - owned enterprise headquartered in Chongqing and growing and developing in Chongqing, China Chang'an Automobile will earnestly implement the strategic deployment of building the Chengdu - Chongqing economic circle, continuously build the three brands of Avatr, Deepal, and Changan, deepen cooperation between central and local enterprises, and drive the development of the western region.
The 100th Central State - owned Enterprise is Officially Established
China Chang'an Automobile is the 100th central state - owned enterprise in China and the first first - level central state - owned enterprise headquartered in Chongqing. In the list of central state - owned enterprises of the State - owned Assets Supervision and Administration Commission of the State Council, China Chang'an Automobile ranks 73rd.
"With the approval of the State Council, China Chang'an Automobile Group Co., Ltd. was established. The State - owned Assets Supervision and Administration Commission of the State Council shall perform the duties of the investor on behalf of the State Council and include it in the list of enterprises for which the State - owned Assets Supervision and Administration Commission of the State Council performs the duties of the investor." The website of the State - owned Assets Supervision and Administration Commission of the State Council shows.
Screenshot source: National Data Service Center for Uniform Social Credit Codes of Organizations
China Chang'an Automobile has total assets of approximately 308.7 billion yuan and about 110,000 employees. Its main business revolves around automobiles, including automobile vehicles and parts, automobile sales, financial and logistics services, motorcycles, etc.
In the future, the new central state - owned enterprise will focus on building new productive forces such as intelligent vehicle robots, flying cars, and embodied intelligence, explore a new ecosystem of three - dimensional travel on land, sea, and air, accelerate globalization development, and speed up the exploration of five major regional markets in Southeast Asia, the Middle East and Africa, Central and South America, Eurasia, and Europe.
Zhu Huarong also mentioned that China Chang'an Automobile will also earnestly implement the strategic deployment of building the Chengdu - Chongqing economic circle, continuously build the three brands of Avatr, Deepal, and Changan, deepen cooperation between central and local enterprises, drive the development of the western region, and strive to be the main force in Chongqing's construction of the "33618" modern manufacturing cluster system and the creation of a capital of intelligent connected new - energy vehicles.
At the same time as the establishment of the new central state - owned enterprise, the equity structure of Chang'an Automobile has also changed.
On July 29, Chongqing Changan Automobile Co., Ltd. (000625.SZ, namely Chang'an Automobile) issued a notice on the progress of the restructuring and the change of the company's controlling shareholder, stating that after this change of equity, the company's indirect controlling shareholder will be changed from China South Industries Group to China Chang'an Automobile, and the actual controller is still the State - owned Assets Supervision and Administration Commission of the State Council.
A Win - Win Situation for Chongqing and Chang'an
The establishment of China Chang'an Automobile is of great significance to the automobile business mainly represented by Chang'an Automobile and Chongqing.
The management team of China Chang'an Automobile mainly comes from its subsidiaries such as Chang'an Automobile and Chenzhi Group.
Among them, Zhu Huarong, the Party Secretary and Chairman of Chang'an Automobile, serves as the Party Secretary and Chairman of the new central state - owned enterprise; Zhao Fei, the Party Secretary and Chairman of Chenzhi Group, serves as the Deputy Party Secretary and Director of the new central state - owned enterprise and is nominated as the candidate for General Manager; Tan Benhong, the Deputy Party Secretary of Chang'an Automobile who led the establishment of Avatr, serves as the Deputy Party Secretary and Director of the new central state - owned enterprise.
Screenshot source: Chang'an Automobile's announcement
In addition, Jia Lishan, Deng Wei, and Deng Yueming serve as members of the Standing Committee of the Party Committee of China Chang'an Automobile and are nominated as candidates for Deputy General Managers; Wang Kun serves as a member of the Standing Committee of the Party Committee and is nominated as the candidate for Chief Accountant; Pu Xingchuan serves as a member of the Standing Committee of the Party Committee and is nominated as the candidate for Deputy General Manager.
Zhu Huarong said today that the separation of the automobile business such as Chang'an Automobile from CSIG is more conducive to its exploration and progress in the international market. In the future process of globalization and internationalization development, China Chang'an Automobile should continuously promote the transformation of the overseas business model from trade - oriented to local - development - oriented.
"In the next five years, China Chang'an Automobile will launch more than 50 new - energy products globally, building the three brands of Avatr, Deepal, and Changan, including new - energy and fuel vehicles." Zhu Huarong said: "We also need to strengthen the layout of forward - looking technologies and emerging industries and invest 200 billion yuan in the new automobile field in the next ten years."
China Chang'an Automobile is the first central state - owned enterprise with its headquarters located in Chongqing. Supporting the development of the western region and the Chengdu - Chongqing economic circle is also an important task of China Chang'an Automobile.
"The three new - energy brands of Chang'an Automobile were all born in Chongqing, and the production capacity layout is also in Chongqing. In the future, China Chang'an Automobile should rely on the digital and industrial capabilities of Chongqing and Chengdu to continuously implement the Shangri - La and Beidou Tianshu plans." Zhao Fei said: "We should take the lead in implementing the 'Chongqing Automobiles Go Global' project, expand overseas markets in Southeast Asia, the Middle East and Africa, Europe, etc. through land - sea intermodal transportation, and actively participate in promoting the formulation and docking of international standards."
The Goal This Year is to Exceed 3 Million Vehicles
After the establishment of China Chang'an Automobile, the person - in - charge of each automobile business also made explanations on the corresponding business development. Changan Qiyuan focuses on the mainstream market, Deepal focuses on young users, and Avatr undertakes the task of upgrading the group's brand.
"Changan Qiyuan is an automobile brand targeting global mainstream family users, positioning itself as an intelligent mobile life expert and being the backbone of Chang'an Automobile." Ye Pei, the Executive Vice - President of Chang'an Automobile, said: "The establishment of China Chang'an Automobile gives Changan Qiyuan stronger brand endorsement. Changan Qiyuan strives to exceed 1 million in global sales in 2027 and 1.8 million in 2030."
Regarding Deepal, Deng Chenghao, the Vice - President of Chang'an Automobile and the CEO of Deepal, said that Deepal focuses on products priced between 150,000 and 300,000 yuan and aims to create a technological and trendy sports brand for young users. "The ecosystem and resources of China Chang'an Automobile are conducive to Deepal's development of better products." Deng Chenghao said.
In the first half of 2025, the delivery volume of Deepal Automobile increased by 71% year - on - year. On August 1, the 620 - km long - range version of Deepal S05 will be officially launched. The whole series is standard - equipped with the leading 3C ultra - fast charging in the same class, and it only takes 15 minutes to charge the battery from 30% to 80%. In the next five years, Deepal will launch a total of 30 new mainstream and differentiated models.
Avatr focuses on the market segment of 250,000 - 500,000 yuan in China. As Chen Zhuo, the CEO of Avatr, said, Avatr strives to build a world - class intelligent luxury electric vehicle brand. "The establishment of the new group is a precious opportunity for Avatr, which will accelerate the convergence and collaboration of industrial resources, speed up the path and speed of Avatr's achievement of strategic goals, and improve Avatr's competitiveness."
On July 27, the Avatr Digital Factory was officially inaugurated. It is the most advanced 5G intelligent dark factory under China Chang'an Automobile. Avatr is also strengthening cooperation with two major strategic partners: its first product under the HI PLUS cooperation model with Huawei will be launched in the second half of next year; the cooperation results with CATL under the N PLUS cooperation model will be applied to the second - generation products.
While clarifying the brand positioning and development direction, the sales volume of Chang'an Automobile is constantly increasing. In the first half of 2025, the cumulative automobile sales volume of Chang'an Automobile reached 1.355 million vehicles, a new high in the same period in the past eight years; among them, the sales volume of new - energy models was 450,000 vehicles, a year - on - year increase of 48.8%.
Looking at the whole year, Chang'an Automobile's annual automobile sales volume in 2024 was 2.684 million vehicles, a new high in the past seven years; its revenue in 2024 was 159.73 billion yuan, a year - on - year increase of 5.58%. This year, the goal of China Chang'an Automobile is to sell 3 million vehicles. Tan Benhong revealed that the internal goal is actually higher than this figure.
This article is from the WeChat official account "Time Weekly" (ID: timeweekly), author: Wu Kai, editor: Liu Xue. It is published by 36Kr with authorization.