CHANGAN AUTOMOBILE-B(000625)2023-12-29 01:34Group 1: Partnership and Strategic Initiatives - Changan Automobile signed an investment cooperation memorandum with Huawei to integrate core technologies for smart vehicle solutions into a new company, aiming to lead in intelligent driving systems and components [1] - The new company will focus on high-quality customer service and promote innovation in smart vehicle technology, facilitating a transition to a low-carbon technology company [1] Group 2: Battery Technology Development - Changan is focusing on breakthroughs in battery cell technology, with plans to enhance energy density and charging rates, achieving a 7-minute charge for a range of 400 km by 2025 [2] - The company aims to produce solid-state batteries with an energy density of 350-500 Wh/kg and volume density of 750-1000 Wh/L by 2030, with a goal of introducing lithium-sulfur and metal batteries by 2035 [2] - By 2030, Changan plans to launch 8 self-developed battery cell models, targeting a production capacity of 50-80 GWh [2] Group 3: Product Launch and Market Expansion - The Avita 12, a luxury electric vehicle, was launched with over 20,000 pre-orders within 30 days, averaging a price of 350,000 yuan [4] - Changan established a Southeast Asia division and local companies in Thailand to enhance brand presence and operational integration, responding to the Belt and Road Initiative [4] - The company aims to cover 350 channel touchpoints in its distribution network as part of its rapid market expansion strategy [4] Group 4: Future Goals and Commitments - Changan plans to invest 10 billion yuan to expand its battery research team to 3,000 personnel by 2024, focusing on core technology breakthroughs [2] - The company is committed to enhancing its ESG initiatives and contributing to the industrial development of Thailand and Southeast Asia [4] - The sales target for 2024 has not yet been finalized and will require board approval [5]