Shanghai (ZXZC)- BAIC Group sold 2.402 million vehicles throughout 2018, the automaker announced in recent days. Besides, it earned RMB480.74 billion in annual revenues with a year-on-year growth of 2.2% and RMB30.13 billion in full-year net profits, an increase of 7.3%.

BAIC Group said it is ambitious to sold 2.45 million vehicles in 2019 and gain a yearly revenues of RMB500 billion. The sales targets set for such joint-venture brands as Beijing Benz, Fujian Benz and Beijing Hyundai are 560,000 units, 28,500 units and 900,000 units respectively.

Xu Heyi, Chairman of BAIC Group, elucidated the corporation development strategy characterized by “high quality, high efficiency, outstanding performance, new technology, new power, new cooperation as well as differentiation and uniqueness.”

To be specific, BAIC Group will strive to build its own competitive intelligent-connected new energy vehicles. Besides, it will accelerate the development of self-owned core brands by shaping a global leader image for the ARCFOX premium EV brand and building the Beijing BJ into China's No.1 off-road vehicle brand. The group will also firm the Foton Motor's position in CV market.

To seize the high ground of technology competition, BAIC Group is ready to build a whole value chain of partnership focusing on autonomous driving, ICV (intelligent-connected vehicle), big data, lightweight material and mobility service.

Meanwhile, the automaker intends to open up new approaches towards the global market in the future and cement the tie-up between Daimler AG and Hyundai Motor.