Beijing (ZXZC)- Chinese legacy automaker Changan Automobile recently disclosed during an investor inquiry session its accelerated strategic plan to expand into five major regional markets, including Europe, the Americas, the Middle East and Africa, Asia-Pacific, and the Commonwealth of Independent States (CIS). 

By 2024, the company aims to establish a presence in Southeast Asia and Europe, with a future goal of entering over 90% of the entire global markets. 

Photo credit: Changan Auto

In the short term, Changan Automobile's overseas operations will primarily focus on the Changan brand. However, the company will also explore introducing the new energy vehicle brands Deepal and AVATR, as well as the commercial vehicle brand KAICENE at appropriate times. 

Under the plan, Changan Automobile will invest 4 billion yuan in establishing a global right-hand drive vehicle production base in Thailand, with production scheduled to commence in 2024. The initial production capacity will be 100,000 vehicles, which will later be increased to 200,000 vehicles after phase II. 

Furthermore, Changan Automobile aims to officially enter the European market by 2024, with a sales target of surpassing 300,000 vehicle in major European markets within 2 to 3 years.

In terms of products, Changan Automobile aims to share the results of its globalized R&D and supply chain layout with consumers worldwide. By 2025, the company plans to launch no fewer than 30 global products.

In addition to its overseas market focus, Changan Automobile has reiterated its commitment to domestic joint ventures. 

Mazda3; photo credit: Changan Mazda

Specifically, the company aims to deepen strategic consensus and mutual trust with Ford Motor and Mazda Motor, refreshing their joint cooperation. 

Both Changan Automobile and Ford Motor will actively promote the development plan for Changan Ford, and preliminary strategic consensus has been reached on future cooperation in electric vehicles. 

On the other hand, Changan Automobile and Mazda Motor will leverage their respective strengths to support the development of new energy vehicle models for Changan Mazda. The joint ventures will optimize their governance models, enhance decision-making efficiency, and leverage Changan Automobile's advantages in product development, new marketing, and customer operations to enhance the competitiveness of the joint ventures.