Shanghai (ZXZC)- Xu Heyi, chairman of BAIC Group, disclosed the status quo as well as significant information about the state-owned automaker in recent days. Most strikingly, Xu Heyi added that BAIC Group will fully stop producing traditional fuel-powered vehicles in Beijing by July 31.

According to Xu Heyi, BAIC Group's advantage lies in new energy vehicle (NEV). During the first half of this year, BAIC's NEV sales topped 59,000 units, ranking first among all NEV makers across China. Therefore, BAIC's self-owned companies will stop the production of fuel-powered vehicles in Beijing by July 31 and stop selling the vehicles by the end of 2020 in Beijing. By 2025, BAIC Group will stop the sales of fuel-powered vehicles across whole China.

In fact, as Beijing lifts the threshold of manufacturing industry and BAIC adjusts its strategy, BAIC Group has been optimizing the structure of industrial chain and reducing the existing production capacity in Beijing. It is revealed that BAIC has switched the production of Shunyi manufacturing base, which was primarily to manufacture Sonova models, to Beijing Benz Automotive Co., Ltd., while transfered the production of Sonova models to Zhuzhou and Guangzhou manufacturing bases. Moreover, BAIC Foton's Huairou manufacturing base and engineering machinery plant also will move out from Beijing. It is said that the strategic reorganization project of Beijing Benz Automotive Co., Ltd. involving RMB 11.939 billion, will upgrade the original production capacity of BAIC Group Beijing Branch into Beijng Benz high-end NEV manufacturing base.

In addition, Xu Heyi also stressed several targets for the future. For example, BAIC BJEV will be listed on stock market in the third quarter. BAIC Group plans to enter into the Fortune Global 100 list in 2020, and it will manufacture the models of ARCFOX, BAIC BJEV's new energy high-end brand, after signing agreement with Magna.