Chinese state-owned automaker China Changan Automobile Group Company Ltd (Changan Auto) has announced that it aims to become a top ten global automaker by the end of the decade. The statement comes shortly after the automaker was spun off into a 'centrally owned' automotive focused enterprise, following a major restructuring at its parent company China South Industries Group - a leading Chinese state-owned military-industrial conglomerate.

The new company is headquartered in Chongqing and is made up of 117 subsidiaries, mostly component manufacturing companies as well as the automaker, Changan Automobile. The group employs approximately 110,000 people, producing passenger and commercial vehicles, motorcycles, and components, as well as operating in logistics and financial services.

Zhu Huarong, chairman of Changan Auto, said in a statement: “Our mission is clear — to build a world-class automotive group with proprietary core technologies and global competitiveness.”

The company has set a target of selling five million vehicles annually by 2030, up from 2,683,798 units in 2024 – including its joint ventures with Ford and Mazda. It expects new energy vehicles (NEVs) to account for more than 60% of the total, while overseas sales are expected to make up 30% of group sales. The company also plans to expand into new markets, including robots, flying cars, and embodied AI.

Changan Auto expects to increase sales by 12% to three million units in 2025, including one million NEVs, generating revenues of CNY 355 billion (US$ 49 billion).