BAIC aims to expand electric cars production to 800,000 units annually BY Muhammad Zamir Asadi Bureau Reporter


BAIC aims to expand electric cars production to 800,000 units annually
Beijing, October 3(INP): BAIC Group’s electric car making arm, Beijing Electric Vehicle Co, has announced plans to expand its annual production to 800,000 units and achieve sales volume of 500,000 units by 2020.
In a briefing to the group of journalists, the representative of the company told that they were ambitious for developing new-energy vehicles, after topping the domestic new-energy vehicle market in terms of volume in the next five years.
The representative said, the company also expects to realize 60 billion yuan ($9.1 billion) in annual revenue in the next five years.
This year company touched the trade volume up to 500 million USD with the pure profit of 35 million USD.
He announced that the company was working on special plans to have a business with the One Belt One Road member countries based on principles like improvement of industrialization, capacity cooperation and infrastructure improvement.
He told that 9 innovation centers were operational while the company have a plan to build seven R&D centers globally.
He also said that the new energy vehicles industry was totally different from traditional industry but they were also supporting for the betterment of previous industry.
Other than developing the new energy vehicles, the company also have intelligence travelling solutions, he went on saying.
The company will embrace a research and development team with more than 5,000 members, throughout the entire industrial chain. …Our world-level innovation center plans to make three models stars in their segments.”
The company is working on collective innovation for a future product, inviting input from customers and media, together with its design studio.
BAIC BJEV expanded its market share in the segment to 25.8 percent and the brand became the world’s fourth-largest fully electric car manufacturer, according to a company news release on Jan 18.