At the Beijing Auto Show on April 25, GAC Group participated in the exhibition with its five major vehicle brands, and its own brand "Gemini" debuted two new cars. At the same time, GAC Group released the "Smart Mobility 2027" action plan, aiming to build on the existing intelligent advantages, through intelligent driving, intelligent cockpit upgrades, and the creation of intelligent three-dimensional travel scenarios.
As the leading brand of smart electric vehicles, GAC Aion has released its first global strategic model, the second-generation AION V. At the same time, GAC Aion announced the full use of the AION letter mark, and the second-generation AION V is the first product to apply the AION letter mark. The model will be launched worldwide in July 2024.
GAC Trumpchi brought the latest achievements in the transformation into a new energy technology enterprise. At the auto show, GAC Trumpchi announced that the cooperation with Huawei was further deepened, and the two sides jointly launched the "new" plan of Trumpchi and Huawei, focusing on in-depth cooperation and research and development in multiple fields such as intelligent chassis and intelligent human-computer interaction. GAC Trumpchi has also become the first brand to be equipped with a new generation of Huawei's intelligent technologies such as Qiankun Intelligent Driving and Hongmeng Cockpit in all fields of sedans, SUVs, and MPVs. It is reported that the first model will be launched and delivered in the first quarter of 2025.
At the same time, based on the multi-energy development path, GAC Trumpchi also released the "EV+", a worry-free solution for all cycles and scenarios, at the Beijing Auto Show. Undertaking the "EV+" solution, the 2024 Trumpchi New Energy E9 was launched, adding a premium version and a state-guest customized version on top of the original version, and the Trumpchi E9 four-seater high-end high-end version jointly created by a German high-end automobile custom brand also started pre-sale release. In addition, the Trumpchi M6 MAX was also unveiled on the same stage at this auto show, and this model is equipped with the HiCar intelligent interconnection system as standard, which realizes the seamless connection between the mobile phone and the car machine, providing users with a more convenient and intelligent driving experience.
GAC Aion's high-end brand Haobo also participated in the auto show for the first time independently, unveiling the newly upgraded Haobo HT 2024 model, which supports urban mapless NDA and has a cruising range of more than 825km. In addition to GAC Trumpchi and GAC Aion, GAC Honda launched the e:NP2 Pole 2, and GAC Toyota made the world premiere of the new intelligent pure electric SUV Platinum Zhi 3X.
At the Beijing Auto Show, GAC Group also announced the "Zhixing 2027" action plan. The plan will take three years to continuously consolidate the three technical foundations of "GAC AI Large Model Platform", "GAC Xingling Electronic and Electrical Architecture" and "GAC Connected Big Data Platform", promote the rapid optimization of intelligent driving and intelligent cockpit, and achieve a significant improvement in user product experience.
At the previous GAC Technology Day, GAC Group released two major routes of the ADiGO PILOT intelligent driving system - "multi-sensor fusion" and "pure vision without pictures". Among them, the L2++ level mapless city NDA function based on the "multi-sensor fusion" technology has been installed on the Haobo model, and it is planned to achieve nationwide coverage in 2024. The pictureless pure visual intelligent driving system is planned to be installed in 2026. In this pure visual solution, it can further reduce the cost of intelligent driving and enhance the competitiveness of GAC's products below 200,000.
In addition, as one of the first batch of domestic L3 autonomous driving access application car companies, GAC L3 autonomous driving is currently being tested in Guangzhou, and mass production will be achieved next year. According to the plan, in 2026, GAC's L3+ autonomous driving, which has a wider range of use scenarios, will be mass-produced, and in 2027, GAC will launch user-oriented L4 autonomous driving, opening a new era of GAC's autonomous driving technology.
In terms of the intelligent cockpit, another factor that affects the experience of smart car products, this year GAC Group will mass-produce the industry's first "GAC end-cloud integrated large model intelligent twin". According to GAC, this will allow the cockpit to have dual brains on the vehicle side and the cloud, with a three-fold increase in response speed and a two-fold increase in interaction ability.
According to the plan, in 2025, the Guangzhou Automobile On-Board Space Interaction System will also break through the screen limitations and realize virtual reality hybrid interaction, in 2026, GAC Group will build a complete operation system covering life entertainment, car-home interconnection and health services, and in 2027, it will realize the active emotional interaction of all scenarios and intelligence in the intelligent cockpit, taking the lead in product experience.
In order to ensure the smooth implementation of the blockbuster strategic models and the "Zhixing 2027" action plan, GAC Group has taken the lead in setting up a 30 billion yuan industrial development fund to invest in intelligent networked new energy-related industries and promote the coordinated development of the entire industrial chain.
On the evening of April 26, GAC Group released its first quarter report for 2024. According to the report, in the first quarter, GAC Group's total operating income was 21.566 billion yuan, the net profit attributable to the parent company was 1.220 billion yuan, the gross profit was about 1.131 billion yuan, a year-on-year increase of 85.5%, and the gross profit margin was 5.24%. During the reporting period, GAC Group's sales volume was 409,700 units, a year-on-year decrease of 24.11%. Among them, the sales volume of new energy was 66,800, a year-on-year decrease of 23.23%. Exports totaled 26,000 units, reflecting a 155.1% y/y increase.