Chongqing's auto production soars, propelling NEV industry growth

Chongqing is building a world-class intelligent connected new energy vehicles (NEV) industry cluster after becoming the runner-up in China in terms of auto production in 2023, according to the government report delivered at the ongoing second session of the 16th Chongqing Municipal People's Congress, which began on Sunday.

Statistics show that from January to November 2023, Chongqing's automobile production reached 2.07 million units, ranking second in the country for the last seven years. The intelligent connected NEVs highlighted the production figures — increasing by 30 percent throughout last year with an added value growth of 10.5 percent.

The output value of the municipality's automobile manufacturing industry is expected to reach 550 billion yuan ($76.43 billion) in 2024, a 14.5 percent growth year-on-year. The city's automobile production is expected to reach 2.6 million in 2024, an increase of 12.2 percent year-on-year.

The automobile industrial scale was projected to reach the trillion yuan level by 2027, with the sales of intelligent connected NEVs surpassing 2 million units and automobile exports making up 10 percent of the country's total.

According to the report, Chongqing became the first city in western China to surpass a GDP of three trillion yuan last year.

Chongqing's GDP growth is expected to grow by around six percent in 2024, said the city's mayor, Hu Henghua, when delivering the government work report.