On April 19, 2021, Shanghai Auto Show was held at the Shanghai National Exhibition and Convention Center. Changan Automobile brought its star products like the UNI-T, UNI-K, CS75 PLUS and the all New CS55 PLUS to the show.
At the press conference, Changan Chairman Mr. Zhu Huarong pointed out that Changan has been focusing on lifting brand sales and value within China. In the past three years, Changan's passenger car acceptance has been leading all Chinese brands. We have successfully launched PLUS and UNI series, which are very popular among drivers. Note, 43% of the buyers of UNI series are converted from JV brands.
We have integrated and focused our resources, in our effort to build a high-end brand. Together with our partners, we will build an international first-class intelligent electric vehicle platform - CHN, and soon you will see its first model.
In 2020, Changan witnessed strong growth in a difficult market, and in 2021 Changan continued to maintain high sales and profit growth levels. In Q1 2021, Changan Chinese branded cars sold 523,000 units, up 119.7% YoY. This is far better than the industry average. Our goal is to reach 5 million units in sales by 2030, including 3.5 million units from the Changan brand. Before 2025, we plan to invest $23 billion to expand our R&D capacities.
After Chairman Mr. Zhu spoke of Changan’s present and future, Mr. Wang Jun, president of Changan Automobile, officially unveiled the second-generation CS55 PLUS, a highly impactful update to first-generation CS55 SUV.
The second-generation CS55PLUS adopts the design concept of technology, intelligence and aesthetics. It is a car specially built for young people with a sense of technology and style. The second-generation CS55PLUS has a progressive front grille, making the car look more powerful. The integrated LED headlights echo the ring taillights, making the entire body look stylish and simple. The Blue Core's new generation NE15T high-efficiency powertrain increases net power by 8% and reduces fuel consumption by 4%.
The new CS55 PLUS cockpit brings more surprises. The dual screen has a sense of science and technology, the hidden air outlets and buttons are all integrated into the dash. The electronic shifting console adopts a floating design, which shows avant-garde style while taking into account the practicality of improved storage room. The new CS55 Plus also has many intelligent functions, providing a new intelligent experience for young people who like to pursue advanced style and technology.
The debut of the second-generation CS55PLUS product not only attracted a lot of attention, but also injected new vitality into the booming Changan Automobile brand.
This new generation of Changan products revealed at Shanghai, are the latest results of Changan Automobile's long term investment in technology and innovation. With our continued commitment to investment in our products, technology, marketing, and culture, Changan Automobile will continue its transformation into an intelligent low-carbon mobility technology company.
22 April 2021
