Changan Automobile, based in Chongqing and known for its extensive manufacturing capabilities with 14 bases and 34 plants globally, has announced that it will function as an independent centrally administered State-owned enterprise. This significant transition was detailed in a statement released by the company on Thursday.

The announcement follows a notification received from Changan's controlling shareholder, China South Industries Group Corp, a central State-owned enterprise based in Beijing that specializes in military equipment and weapons manufacturing.

As outlined in the notice, China South Industries Group Corp has obtained formal approval from the State-owned Assets Supervision and Administration Commission of the State Council, commonly referred to as SASAC, to initiate a comprehensive corporate restructuring.

The restructuring plan involves separating Changan Automobile from China South Industries Group Corp, establishing it as an independent central State-owned enterprise. In this new structure, SASAC will serve as the investor for Changan.

Changan Automobile boasts a robust workforce of over 18,000 research and development personnel hailing from 31 different countries and regions, enhancing its innovative capabilities.

To support its strategic development, the company has established a globally synchronized research and development network located across ten sites in six countries, including Japan, Germany, and the United States, each focusing on specialized areas of automotive advancement.