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CN SASAC to Conduct Strategic Restructuring of SOE Automakers
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A related person in charge from the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council of China revealed at the China EV100 Forum that the next step for state-owned enterprises (SOEs) in the automotive sector will involve strategic restructuring to enhance industry concentration. The official added that SASAC will also encourage greater collaboration among the SOEs. The goal of this restructuring is to consolidate the R&D, manufacturing, and market strengths of these enterprises, aiming to create a world-class automotive group with global competitiveness, proprietary core technologies, and leadership in the transformation toward smart and connected vehicles. In parallel, SASAC will launch an action plan for industrial renewal and the development of new energy vehicles (NEVs), using vehicle products as the breakthrough point and core platform to accelerate efforts in power batteries, automotive chips, and intelligent driving systems. Separately, China Securities Journal quoted SASAC Deputy Director Gou Ping at the same forum, stating that SOE automakers have made major progress in catching up with industry leaders in product competitiveness, market share, and forward-looking technological innovation. To support this momentum, SASAC has introduced tailored assessment frameworks, including industry-specific and company-specific strategies. NEV businesses will be evaluated separately, with allowances made for operating losses during the strategic investment phase. The assessments will focus on key areas such as technological breakthroughs, product development, and market share growth, encouraging enterprises to boldly accelerate their efforts to close the gap with competitors. AAStocks Financial News |
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