As favorable policies for automakers are rolling out one after another, China’s automakers are losing no time in grasping this great opportunity to blaze a new way beat the current economic slump. 

"The Vehicle Go to Countryside” campaign launched by the government has now been greatly welcomed by every automobile builder. In response to the new policy, automakers are now actively engaged in adjusting their product spectrum and developing new models catering to the rural market. For example, SG Group is working hard on introducing a pick-up model for the low-end market. Shifeng Group has already shifted its focus on the R&D of light-duty trucks this year. Zhengzhou Nissan is now actively involved in designing a multi-functional cargo & passenger vehicles.  

The Government Work Report this year has clearly indicated that sufficient care will be given to the strengthening of China’s equipment manufacturing industry. LI Dakai, an NPC delegate and President and General Manager of Shaanxi Fast Auto Drive Group Company Shaanxi Fast Gear Co., Ltd. deemed that the pressing task for automakers is to beef up their R&D capabilities. As the government has been supportive to strengthen corporate self-innovation capacity, Great Wall and Fast Auto have indicated that they have benefited from government subsidies. In this year’s report, the central government also plans to allocate RMB 20 billion (2.92453 billion USD) as special fund to support enterprises’ technological innovation. In the meantime, it budgets a total of RMB 146.1 billion (21.36 billion USD) in the area of science and technology, up 25.6% y/y.

Moreover, pushed by the central government’s new policy to enhance energy efficiency and emission reduction, an increasing number of enterprises have joined the research & development work of new vehicles powered by new energies. Last year, some new-energy vehicles made their debut in Beijing’s Olympic Games.

Source : english.chinabuses.com

Editor : Mark

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Tags: Automakers Take Actions