Chongqing Changan Automobile Company Limited(000625) chairman Zhu Huarong: in the next 3-5 years, 80% of China’s fuel vehicle brands will “shut down, stop and transfer”

Chongqing Changan Automobile Company Limited(000625) chairman Zhu Huarong said at the forum of China electric vehicle hundred people’s Congress that with the acceleration of new energy vehicles, the competition in China’s fuel vehicle market will be more intense. In 2021, there are 85 brands in the traditional fuel vehicle market, of which 34 brands sell less than 1000 units per month; Nine brands died out. “In the next 3-5 years, 80% of Chinese brands will be ‘closed down and transferred’.” Zhu Huarong thinks.