GAC Group is set to acquire a stake in a vehicle joint venture company under FAW Group, a strategic move aimed at fostering resource integration within its joint venture operations. Concurrently, just 16 months after the introduction of Buick Ultra’s new energy vehicle, the 150,000th unit has come off the assembly line, signaling a notable uptick in both production volume and market value. Cui Dongshu, Secretary-General of the China Passenger Car Association, remarked that these milestones underscore a profound transformation period for domestic joint venture automakers, particularly in terms of systemic restructuring. He emphasized that the growth of joint venture new energy vehicles hinges on the companies’ internal capabilities. He noted that the market previously harbored biases against joint venture new energy vehicles, with mainstream joint venture brands still predominantly relying on fuel-powered vehicles for their sales. These brands are now confronting transformation challenges, such as the entrenched presence of fuel-powered vehicles and sluggish local market responsiveness. GAC’s asset restructuring initiative exemplifies an optimal allocation of existing resources within the joint venture sector, offering a pathway to resolving internal conflicts. Buick Ultra, with its product development spearheaded by a local team, epitomizes the traits of the Joint Venture 2.0 era. Cui Dongshu is confident that if joint venture brands can streamline their operational mechanisms and chart the right course, they are capable of producing high-quality new energy vehicles. Moreover, he believes that the healthy competition between domestic and joint venture brands will collectively propel the high-quality development of China’s new energy vehicle industry.