20 Billion! Automotive “Super Central State-Owned-Enterpise” Established
On July 27, China Changan Automobile Group Co., Ltd. was officially established with a registered capital of 20 billion Chinese Yuan (CNY) and registered address in Chongqing.
The new company is positioned as a bureau-level central state-owned enterprise, with current Changan Automobile Chairman Zhu Huarong serving as legal representative and chairman. It will become the third automotive central SOE after FAW and Dongfeng, the first central SOE to be established in Chongqing, and also the 100th central SOE!
According to previous reports, on June 23, Changan Automobile announced that its controlling shareholder China Changan Automobile Group Co., Ltd. changed its name to “Chenzhi Automotive Technology Group Co., Ltd.”; On June 5, Changan Automobile announced that with State Council approval, its indirect controlling shareholder China South Industries Group Corporation (hereinafter referred to as “South Industries Group”) would be split. Its automotive business was spun off as an independent central enterprise, with no change in actual controlling party.
Looking back, in 2017, Changan Automobile launched the Shangri-La Plan and Beidou Tianshu Plan, fully promoting new energy and intelligent implementation while seeking global development; In 2021, Changan Automobile partnered with Huawei and CATL to create Avatr; In 2023, it launched new energy brands including Changan Deepal and Changan Qiyuan, completing differentiated positioning in the new energy track. Over the next 5 years, Changan Automobile will adhere to five major powertrain routes: BEV, REEV, PHEV, HEV, and ICE, launching 45 new products globally, including 37 new energy vehicles.
In terms of sales, in the first half of 2025, Changan Automobile achieved cumulative sales of 1.3552 million units, an eight-year high; Among these, new energy vehicle sales reached 451,700 units, a year-over-year increase of over 50%. The company plans to achieve total sales of 5 million units by 2030, with independent brand sales reaching 4 million units and new energy vehicle sales reaching 3 million units.
Performance-wise, in 2024, Changan Automobile achieved operating revenue of 159.7 billion yuan, up 5.58% year-over-year. In Q1 2025, it achieved operating revenue of 34.161 billion yuan and net profit of 1.353 billion yuan, with adjusted net profit of 783 million yuan, a substantial year-over-year increase of 601.31%.
Regarding new technology deployment, this year Changan Automobile launched the Jinzhongzhao all-solid-state battery, Tianheng chassis, flying cars, and humanoid robots.
For solid-state batteries, the “Jinzhongzhao” all-solid-state battery achieves energy density of 400Wh/kg, range exceeding 1,500km, supports AI remote diagnostics, and improves safety by 70%. In recent years, Changan has continuously tackled solid-state battery technology with deep deployment in materials and processes. At the end of 2023, Changan partnered with Ganfeng Lithium to advance solid-state battery industrialization projects; In 2024, Changan led Tailai New Energy’s Series B funding round and jointly released “separator-free solid-state lithium battery technology” in November. The company plans to validate separator-free semi-solid-state batteries in 2026 and mass-produce separator-free all-solid-state batteries in 2027.
Additionally, Changan Automobile has stated that the company will accelerate industrial expansion and build new productive forces. It will invest over 200 billion yuan in new automotive (new energy, intelligent) and other fields, adding over 10,000 people to its technology innovation team. It expects to complete test flights of next-generation flying cars by year-end. By 2028, it aims to achieve humanoid robot production and application. Chairman Zhu Huarong has pointed out that Changan predicts that future cars will be “evolutionary intelligent automotive robots.”
As of July 28, 2025, Changan Automobile’s total market value reached 132.6 billion yuan!
Source: https://www.sohu.com/a/918509694_777213?scm=10001.542_14-200000.0.0.&spm=smpc.home.business-news11.7.1753753752015m6MZxch_1467