Guangzhou’s municipal government unveiled plans to become “China’s Detroit” by setting targets of nearly double current production capacity by 2025 with heavy emphasis on new energy and driverless vehicles.
Why it matters: Switching goals from becoming the world’s vehicle plant to a global powerhouse in smart and electric mobility are in line with the central government’s core initiatives.
Guangzhou is not the first Chinese municipality which seeks to transform the city’s auto industry into an innovation hub.
Chongqing announced (in Chinese) earlier this year that the city is targeting a goal of producing 10%, or 3.2 million units, of China’s total annual auto output in 2022.
Half will be either new energy or smart vehicles, or a combination of both.
Details: Guangzhou is offering strong financial support, including land resources and government funds, to bolster NEV companies clustered around the city, said the municipal government in a file released Wednesday.