Wuhan Economic Development Zone: Will cultivate 6 vehicle manufacturing companies worth over 100 billion in the next 5 years

On February 24, at the Wuhan Economic and Technological Development Zone, during the press conference for the 2026 Wuhan Science and Technology Innovation Conference, it was announced that by 2030, the goal is to cultivate six vehicle manufacturers with annual sales of over 100 billion yuan, forming a pattern of state-owned enterprises and private companies, independent and joint ventures, new forces and new strengths competing and developing together. The plan is to accelerate the transformation and upgrading of traditional joint venture automakers, focusing on “localized R&D + differentiated competition” to consolidate and expand market share. By 2030, there will be more than three vehicle companies with annual sales of 50 billion yuan or more, and joint venture brand vehicle production will remain stable at over 500,000 units. The “Strengthening and Supplementing the Supply Chain” project will be implemented to develop nationally influential group-based auto parts companies. The target is to add 100 core parts companies with annual sales of over 1 billion yuan by 2030, and to promote the city’s auto parts to vehicle ratio to reach 1:1.