China region has become the largest electric vehicle market in the world, as well as it’s likely to keep growing with the administration’s mandate. China’s biggest automaker, Guangzhou Automobile Group (GAC) declared that they began construction at a giant $6.5 billion industrial park to develop and produce electric and autonomous vehicles. Over the years, it is one of the biggest investment. The industrial park will be situated in Guangzhou’s Panyu district on 5 square kilometers. Guangzhou Automobile Group will build a new electric vehicle plant, which they expected to completed by the end of 2018. GAC Motor will invest $679 million for this project. General Manager of GAC Motor, Yu Jun said about the declaration, “The planning and construction of this industrial park is a concrete step to implement the Chinese government’s green development goals for Guangdong and the national ‘Made in China 2025′ strategy, the move will help promote the development of the automobile industry and drive economic growth”.
Before this declaration, Guangzhou Automobile Group exposed its first all-electric vehicles named the GE3, at the North America International Auto Show. GE3 going to be one of the cars manufactured at the new location. General Manager of GAC Motor, Yu Jun added, “In the coming five years, we will push out at least seven new electric vehicle models and cover three product series including pure electric, range-extending, and hybrid, sour goal is for GAC Motor to take the lead in the EV business and achieve sales of 20,000 electric vehicles by 2020”. Yu Jun also stated that they have signed strategic partnership agreements with world’s top 10 auto suppliers, mainly includes Aisin Seiki, Michelin, Continental, and Faurecia during Auto Shanghai. To complete the new project, GAC Motor is involving everyone together for the production of electric vehicles and research and development.