(Yicai Global) Jan. 15 - Guangzhou Automobile Group Motor Co., Ltd. (GAC Motor) plans to enter the U.S. market next year, the Chinese company's president said Monday in Motor City of the United States.
At a press conference following the unveiling of its electric vehicle concept SUV at the North American International Auto Show (NAIAS), GAC said it hopes to enter the U.S. market in the first half of 2020. China's official Xinhua news agency reported.
"There are a lot of challenges in this industry," GAC president Yu Jun said. "Our ultimate objective is to build the company into a world-class brand and globalized brand. We need to work toward that goal. We are technology- and innovative-driven... We think American consumers will enjoy our products."
GAC operates in 16 countries. In 2018, it sold more than 535,000 cars globally, up 5.23 percent year on year.
The three-row, seven-seat concept vehicle GAC unveiled is called the Entranze EV. It is the first concept vehicle from GAC's North America design studio in California.
GAC is preparing to open a new research and development center in March in Farmington Hills in Michigan. It already has one in Silicon Valley in addition to its advanced design center in Los Angeles.