In October, Fortune China published the Future 50 2018 List. GAC ranked 23rd, ranking the highest among nominees from China. It was also the only Chinese state-holding carmaker on the list. The Fortune Future 50 2018 List represents the ranking of global enterprises with most promising long-term prospects. 21 Chinese companies were on the List in 2018.

(GAC Ranked 23rd in the Future 50 2018 List)

        Fortune China emphasizes the selection method of the Future 50. 50% depends on the candidate’s market potential, that is, the company’s future growth expectations in the financial market, while the other 50% depends on the company’s ability to display its potential. 17 indicators to predict the company’s future five-year growth are included.

According to the List, the growth rate of China’s state-owned carmakers accelerated again in this August, and the long-term trend was good. Launch of a new Trumpchi model is underway. In China, GAC has expanded the production capacity of Guangqi Toyota and invested a substantive R&D funds for electric vehicles and autonomous vehicles.

        As a local company in Guangzhou that has been among the Fortune World Top 500 for six consecutive years, GAC Group has been widely recognized for its strength by Fortune magazine and other outsiders. In this September, against the recession of China’s auto sales, GAC’s production and sales continued to grow, hitting a record high. In September, the output was 193,700 units, an increase of 20.08% from the previous month, and the sales was 198,000 units, an increase of 14.11% from the previous month, and year-on-year increase of 5.84%, 17.4 percentages higher than the industry’s year-on-year growth (-11.6%). From January to September, the cumulative output of vehicle was 1,598,300 units, a year-on-year increase of 7.58%. The cumulative sales of vehicle was 1,558,000 units, a year-on-year increase of 6.24%, 4.74 percentages higher than the industry’s year-on-year growth rate (1.5%).

(GAC’s Output and Sales in September and Cumulative Output and Sales)

        While achieving rapid and steady development, GAC has always been seeking transformation and upgrade based on the principle of “one center, two unwavering and three transformations”. GAC insists on internal collaborative innovation, and external opening and cooperation to actively welcome the forthcoming intelligent connected new energy vehicles. On July 18, GAC established a joint venture with CATL. Both Parties want to further deepen the cooperation in the industrial chain and accelerate the breakthrough of “electrification”; this April, GAC respectively signed strategic cooperation agreements with Cisco China and Didi to embrace more extensive cooperation in terms of driverless technology, new energy vehicle, big data applications and travel services. In addition, GAC previously already reached strategic cooperation with such partners as Huawei, Tencent, NIO, China Mobile and iFlytek. GAC is accelerating the development and application of intelligent connected vehicles.

        At present, GAC has obtained the first batch of autonomous driving test licenses in Chongqing; the first phase of GAC Intelligent Connected New Energy Automobile Industrial Park with an output of 200,000 units is planned to be completed by the end of this year; GAC New Energy has opened a “25-hour Living Experience Center” in 17 cities including Beijing, Shanghai, Guangzhou and Shenzhen and 9 Display Centers in nine cities; new energy vehicle product such as GE3 quickly gained market recognition and its sales continues to climb. From 2019 onwards, GAC plans to launch one pure electric vehicle model every half a year. It is estimated that by 2020, new energy vehicle products will account for 10% of the Group’s total vehicle production and sales.

(GAC New Energy GE3)

        In the future, GAC will implement the new development concept and focus on quality and efficiency. Through innovations on technology, product, services and system, GAC will seek breakthrough with respect to “electrification, intelligence, connected and sharing”, strive to realize the transformation from manufacturing to creation, from speed to quality, from product to brand and speed up to become a mobile life value creator. GAC will march proudly towards the grand goal of becoming the global top 100 on the 30th anniversary of its establishment in 2027 and world’s first-class company on the 40th anniversary of its establishment in 2037.