Chinese automakers are getting in on the electric car market in a big way. GAC Motor – one of the country’s largest car companies – just began construction on a $6.5 billion electric vehicle park where they’ll produce self-driving and electric cars. Electrek noted this is one of the biggest investments of this nature.
The Guangzhou Automobile Intelligent Industrial Park will sprawl across almost two square miles in Guangzhou’s Panyu district in the province of Guangdong. A press release states the employment population of the park will be over 20,000 people. At the park, a new electric car plant, which might be ready to go by the end of the next year, could churn out as many as 200,000 units a year.
GAC Motor General Manager Yu Jun said, “The planning and construction of this industrial park is a concrete step to implement the Chinese government’s green development goals for Guangdong and the national ‘Made in China 2025’ strategy. The move will help promote the development of the automobile industry and drive economic growth.”
Research, development, and production will take place at the new industrial park. Electrek explained one reason for the huge investment is China’s electric vehicle mandate, which says at least eight percent of car makers’ total sales by 2018 should be electric vehicle sales, and increases to 10 percent in 2019 and 12 percent in 2020. The publication said China is rapidly becoming the world’s biggest electric vehicle market.
GAC just unveiled the GE3, their first entirely electric car, at the North American International Auto Show this year. But they have grand ambitions for the upcoming years: Yu Jun also said in the next five years, they’ll release a minimum of seven new electric car models, saying, “Our goal is for GAC Motor to take the lead in the EV business.” Watch out, Elon Musk!