CANGO Vehicle Watch: China’s Car Industry

SHANGHAI, July 23, 2021 /PRNewswire/ — With the evolving landscape of the global automotive industry, Cango Inc. (NYSE: CANG) (“Cango” or the “Organization”) is issuing a bi-month to month marketplace perception called “CANGO Automobile See” to convey visitors, motorists and passengers up to velocity with what is actually on give in the automobile industry, what traits are rising, and what holes need to have to be plugged.

Below is an write-up from the Firm’s 4th version for June 2021.

If we had been to break up the auto industry’s hundred-year background into four developmental stages, it would glimpse one thing like this. The 1st was the era of the earliest automakers, headed by Mercedes-Benz, starting to be luxurious motor vehicle brand names with illustrious heritage the next phase was about US automobile companies these kinds of as Ford that invented the assembly line, developed up value gain and began internet marketing their items around the world in the third phase, organizations represented by Toyota seized the option throughout the electrical power crisis, and obtained sector share with compact, minimal-emission and substantial-good quality items and the fourth stage, where by we are now, is four new developments for OEMs – electrification, intelligence, connectivity, and shared mobility.

Just as 3G technological innovation gave start to the Computer Web period and 4G kicked off the cell World wide web wave, the invention of 5G opens up the creativeness for the transformation of common manufacturing industries, such as the automotive field.

The rising maturity of 5G is also pushing the worldwide automotive industry to speed up its journey toward electrification, intelligence, connectivity, and shared mobility. In accordance to marketplace specialists, the value of solitary info unit transmission will be lowered appreciably for the reason that of the tremendously improved community capacity driven by 5G. A lot more importantly, because electric powered automobiles have inherent rewards in phrase of intelligence improvement such as the quick latency, with the deployment of 5G networks and the acceleration of car intelligence, extra consumers are anticipating increasing intelligence of new vitality autos.

An Conghui, President of Geely Keeping Team, CEO and President of Geely Car Team, stated that the market is headed to electrification, intelligence, connectivity, and shared mobility, whilst Chinese organizations appreciate all-natural benefits at this stage. For example, when it comes to electrification, China is the greatest industry, exactly where both the governing administration and buyers have their have demands for environmental security and air good quality enhancement in the area of Web of Autos (IoV), Chinese shoppers have the highest acceptance of the Online, and China owns the largest variety of IoV corporations and similar builders and engineers, which will help the application of the World-wide-web in vehicles.

If we choose a international glance, the 4 new tendencies have turn into the consensus of mainstream automobile organizations. Be it large domestic automobile groups this sort of as FAW and Changan Car, emerging automakers like Neo, Weltmeister and Li Vehicle, or multinationals like GM and Volkswagen, they have all formulated comprehensive programs to “embrace the period of electrification.” This is an sector overhaul the place both equally outdated and new players are keen to consider it out.

Have a search at some targets outlined by top world wide carmakers in this place:

Volkswagen: revenue of pure electric powered motor vehicles to account for much more than 70% of car revenue in Europe by 2030

Audi: halt building new internal combustion engines

Bentley: PHEV or EV styles to be readily available in all automobile series by 2026, and all items to be purely electrical in 2030

BMW: pure EV income to increase by extra than 50% every single 12 months by 2025

MINI: all MINI models to be purely electric powered in early 2030s

Mercedes-Benz: discontinue output or product sales of all standard gasoline motor vehicles and give hybrid or pure electric versions for all products by 2022

Jaguar: become a pure electric luxurious vehicle model in 2025

Land Rover: launch 6 pure electrical products and solutions in the coming 5 several years

Volvo Autos: thoroughly electrified by 2025, with pure electric powered products accounting for up to 50%, and remodel into a pure electrical brand name by 2030

Standard Motors: zero carbon emissions from new cars bought by 2035 and carbon neutrality by 2040

Ford Motor: stop marketing any type of inside combustion engine motor vehicles in the British isles and Europe, and obtain entire electrification by 2030

Nissan: accomplish 100% electrification of new versions in main marketplaces in the early 2030s and comprehend carbon neutrality by 2050

Toyota Motor: new electrified cars sales to exceed 5.5 million in 2025, with above 4.5 million HEVs and PHEVs and around 1 million EVs and FCEVs

About Cango Inc.

Cango Inc. (NYSE: CANG) is a top automotive transaction assistance system in China connecting dealers, economical establishments, car customers, and other sector participants. Founded in 2010 by a team of pioneers in China’s automotive finance industry, the Organization is headquartered in Shanghai and engages car or truck purchasers as a result of a nationwide dealer network. The Company’s solutions generally consist of automotive funding facilitation, motor vehicle buying and selling transactions, and right after-industry companies facilitation. By using its competitive rewards in technological innovation, details insights, and cloud-based infrastructure, Cango is capable to link its system members though bringing them a high quality user encounter. Cango’s system product places it in a exclusive position to include worth for its system individuals and company associates as the automotive and mobility markets in China continue to grow and evolve. For much more information, make sure you stop by:

Media Call:

Juliet Ye
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
E mail: [email protected]

Source Cango Inc.