On August 29, Guangzhou Automobile Group (GAC Group) announced a new goal of selling 500,000 vehicles annually in its overseas market by 2030. In the coming years, GAC will introduce its electric vehicle models to Europe, with a focus on Western European markets. In the Asia-Pacific region, the company expects to sell fuel-powered (including hybrid) and pure electric vehicles and establish production bases in Malaysia, Thailand, and Myanmar. The company says it will improve operations in Saudi Arabia, the United Arab Emirates, and Mexico, while also keeping the Commonwealth of Independent States (CIS) in its sights. GAC achieved vehicle production and sales of 1.1969 million and 1.163 million units respectively in the first half of 2023, a year-on-year growth of 3.93% and 1.14%, according to a financial report released by the company on August 25. [GAC statement, in Chinese]
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