Dongfeng Motor Company Ltd in Wuhan Economic and Technological Development Zone (WHDZ) announced a new five-year plan on Feb 5, declaring that by 2022, the sales volume of the company will have reached 2.6 million, with sales revenues of 300 billion yuan ($48 billion).
The company aims to be one of the top three automobile manufacturers in the country.
To achieve this goal, Dongfeng Motor will invest 60 billion yuan in enhancing sustainable development in areas including research and development, manufacturing, human resources and environmental protection.
Last year, sales volumes at the company reached 1.52 million, a year-on-year increase of 12.2 percent compared to 2016.
According to the plan, more than 40 types of vehicles will be launched by the company over the next five years.
In addition, Dongfeng Motor is eyeing the new energy vehicle market.
Data reveals that 777,000 new energy vehicles were sold in 2017, an increase of 53.3 percent compared to 2016.
By 2022, the company will have launched more than 20 types of new energy vehicles, including zero-emission pure electric vehicles and hybrid electric vehicles.
It is expected that 30 percent of sales at Dongfeng Motor will come from sales of new energy vehicles by 2022.
Dongfeng Motor Company Ltd in Wuhan Economic and Technological Development Zone [Photo/WeChat account of WHDZ]
Dongfeng Motor announces its five-year plan on Feb 5. [Photo/WeChat account of WHDZ]
A production line of Dongfeng Motor in Wuhan Economic and Technological Development Zone [Photo/WeChat account of WHDZ]
