Rising Auto(飞凡汽车), a new energy vehicle unit of China’s biggest automaker, SAIC Motor, plans to launch at least one new model a year through 2025, with annual sales growth of at least 100 percent. The company CEO Wu Bing is quoted on the plan by Yichai Global on August 30. 

Rising Auto was formed in last October and it offers various models: sedans, sport utility vehicles, and multi-purpose vehicles, and focuses on middle- and high-end smart NEVs priced at RMB200,000 to 400,000 ($29,000 to 58,000). 

The company has 212 sales outlets in 83 cities in China and 19 delivery centers in 16 cities. The firm also has 114 branded charging stations, over 1,000 authorized charging stations, and more than 520,000 third-party charging piles, according to data provided by the company.

Wu Bing told Yichai Global that in the future cars are more likely to resemble electronic devices than machines. 

Recently introduced NEVs have had smart cockpits and intelligent driving assistants, he said, adding that NEV startups such as Nio and other producers like Rising Auto with backgrounds in traditional car companies use these features to attract buyers.

With the development of artificial intelligence and networking, the car is becoming a mobile intelligent space, which will trigger massive change in the business model and business logic of the entire auto industry. So all manufacturing sectors need a detailed understanding of changing customer needs, he said.

“The company’s entire business and value chains should be reconstructed according to user needs, and existing digital tools will have to be used to capture the real needs of customers,” Wu pointed out.