Guangzhou is investing heavily in the development of new energy vehicles. Guangzhou Automobile Industry Group (GAC Group) will cooperate with its partners to invest RMB 45 billion to build a 5 square kilometer New Energy Vehicle Industrial Park in Panyu, Guangzhou. The industrial park is divided into three parts: The first is the client area, and the goal is to attract 100 high-tech companies both domestically and abroad who are forward-looking in terms of autonomous driving, vehicle networking, and new energy. The second is the smart production section, with the aim to form 400,000 vehicle production capacity in 2025, as well as ancillary battery motor control production. The third is the automotive town, which will include key auto parts, self-driving, networking and other smart car service areas. China's huge investment in new energy vehicles will catalyze the new energy vehicle market.