Representatives from China's auto manufacturing giants attend the China Auto Chongqing Summit 2021 on June 13 in Chongqing. [Photo/liangjiang.gov.cn]

The China Auto Chongqing Summit 2021 was held on June 13 in Liangjiang New Area, in Southwest China's Chongqing municipality. The event was highlighted by the presence of Chinese auto giants' chairmen, who delivered keynote speeches to boost Chongqing's high-standard development in the auto manufacturing sector.

Yin Tongyue, chairman of Chery Automobile Co, said in the context of carbon peak and neutrality targets, Chery has been constantly adjusting its strategies and synergizing traditional automobile manufacturing with cutting-edge areas, including new energy, autonomous driving and AI.

"On one hand, we are trying to develop engines with higher efficiency to raise traditional vehicles' thermal efficiency. On the other hand, we have made valuable explorations in the new energy area and have prepared for research on next-generation technologies, including hydrogen energy," Yin added.

He prioritized coordinated innovation as the company's top target, which then led to in-depth teamwork with IT and internet companies, including Baidu, Alibaba, Tencent and Huawei.

Wang Chuanfu, chairman of BYD Co, said that through years of hard work, Chinese brands have caught up with their foreign counterparts in the core technologies of the new energy sector. He urged domestic auto firms to proactively advance in the overseas market.

Statistics show that the penetration rate of Chinese new energy vehicles has exceeded 10 percent, reaching 11.4 percent in May this year.

However, Wang admitted the NEV industry falls short for brand recognition. This calls for the whole industry to upgrade their products and make them more accessible to consumers.

China Changan Automobile Group currently possesses more than 500 crucial auto-manufacturing technologies, 48 of which have debuted domestically. The firm's CEO Wang Jun also recognized the rapid development of China's auto sector and suggested that Chinese automobile brands join forces in building a new industrial ecology.