GAC Technology Day Highlights Breakthrough in Chip Localization
On April 12, GAC Group hosted the 2026 GAC Technology Day, showcasing three pivotal advancements: a next-generation universal hybrid system, an integrated edge-cloud intelligent cockpit, and sophisticated new electronic and electrical architecture. The most significant announcement involved a major milestone in China's semiconductor ecosystem. GAC confirmed that the Hyper GT Climbing Edition is scheduled for a May launch, marking its status as the first intelligent New Energy Vehicle in China to feature 100% domestic chip design. The Hyper GT Climbing Edition will integrate a total of 1,004 chips, achieving full localized coverage across all vehicle systems.
Future Outlook: China NEV Market Penetration to Surpass 70 Percent
During the Intelligent Electric Vehicle Development Forum held in Beijing on April 11, Su Bo, Deputy Director of the National Manufacturing Power Construction Strategy Advisory Committee and former Vice Minister of the Ministry of Industry and Information Technology, delivered a compelling vision for the decade. He emphasized that the "15th Five-Year Plan" period will be the decisive era for China to transition from a large automotive nation to a global automotive powerhouse. In this context, New Energy Vehicles (NEVs) are tasked with fulfilling national missions related to manufacturing excellence, technological sovereignty, and carbon neutrality goals.
Expert projections suggest that by 2030, NEVs will become the absolute dominant force in the domestic market, with an anticipated penetration rate exceeding 70%. Su Bo noted that the goal of becoming an NEV powerhouse is likely to be achieved ahead of schedule by the end of the 15th Five-Year Plan.
2026 Automotive Market Projections and Export Growth
On April 12, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), provided a detailed quantitative forecast for the 2026 automotive market. Total wholesale vehicle volume is expected to reach 34.8 million units, representing a year-on-year increase of 1%. Specifically, manufacturer passenger vehicle wholesale volume is projected to hit 30.09 million units, reflecting a 2% growth compared to the previous year. While domestic retail sales are estimated to experience a slight dip of 1% to approximately 23.59 million units.
The export sector continues to be a vital growth engine for Chinese manufacturers. According to CPCA projections, factory exports are expected to reach 6.5 million units in 2026, marking a significant 13% increase over 2025.
Furthermore, the New Energy Passenger Vehicle (NEPV) segment is forecasted to maintain its momentum with wholesale sales reaching 17.3 million units, a 13% year-on-year rise.
*(Exchange rate: RMB 6.9 = USD 1)*