On February 24, during the press conference for the 2026 Wuhan Science and Technology Innovation Conference, the Wuhan Economic and Technological Development Zone unveiled its ambitious plan. The goal is to nurture six automobile enterprises, each boasting revenue in the hundreds of billions, by the year 2030. This initiative aims to foster a vibrant and diversified development ecosystem where central enterprises coexist harmoniously with private ones, independent companies thrive alongside joint-venture entities, and both emerging and established players can flourish.
Simultaneously, the zone will drive the accelerated transformation and upgrading of traditional joint-venture automobile companies. This will be achieved through strategic approaches such as 'localized research and development' paired with 'differentiated competition,' thereby solidifying and expanding their market share.
By 2030, it is anticipated that more than three automobile enterprises will achieve revenue of 50 billion yuan each. Furthermore, the production volume of vehicles under joint-venture brands is expected to stabilize at over 500,000 units.
In addition, the 'Strengthening and Supplementing the Chain' project will be rolled out to cultivate group-type automobile parts enterprises of national repute. The aim is to attract 100 core parts enterprises, each with revenue surpassing 1 billion yuan, ultimately achieving a balanced vehicle-to-parts ratio of 1:1 across the entire city.