Sinomach Automobile Co., China’s largest dealer of imported vehicles, is joining dozens of domestic startups in building electric vehicles.
The first EV to roll off the production line at its plant in Ganzhou in east China’s Jiangxi province on Tuesday was a crossover, Sinomach Auto said.
With a range of 338 kilometers (210 miles), the electric crossover will go on sale under the Zedriv brand in the fourth quarter.
Sinomach Auto’s 8 billion yuan ($1.1 billion) plant can initially produce up to 100,000 EVs at full capacity. The company has set ambitious goals in a bid for a foothold in China’s EV market.
The company plans to roll out 16 EV models, including sedans and multipurpose vehicles, by the end of 2023.
It wants to open more than 340 stores in 72 China cities before year end.
In addition to domestic sales, it plans to sell EVs overseas, Sinomach Auto said, without divulging details of any exports.
Sinomach Auto sold some 153,800 imported vehicles in 2018. With annual sales approaching 44.3 billion yuan, it was the seventh-largest auto dealership group in China in 2018, according to China Automobile Dealers Association.
The company, headquartered in Beijing, is a Shanghai-listed subsidiary of state-owned machinery manufacturer China National Machinery Industry Corp.