Macro
Decoding the dark horse Hefei: the counterattack code of a central city
Seetao 2025-06-30 15:34
  • The explosive growth of the new energy vehicle industry has effectively boosted Hefei's economic growth
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On the map of China's urban competition, the rise of Hefei can be called a textbook-level counterattack case. Once known as "China's largest county", the city now ranks second in the country in terms of new energy vehicle production, with an output of more than 1.35 million units in 2024, accounting for more than one-tenth of the country's total, and achieving a nearly 10-fold increase in three years.

Hefei's counterattack began with a very forward-looking industrial layout. From the introduction of Changxin Storage to betting on BOE, from investing in NIO to holding hands with BYD, the Hefei government has shown amazing industrial judgment. In 2020, when NIO hit the bottom, the Hefei government decisively took the lead in investing 7 billion yuan, which not only reaped rich returns, but also drove more than 120 supporting enterprises to settle down and build a complete industrial chain.

The careful cultivation of industrial ecology is the key to Hefei's success. At present, Hefei has formed a complete industrial chain from lithium battery materials, battery manufacturing to vehicle manufacturing. The gathering of core component enterprises such as Guoxuan Hi-Tech and JEE Technology has enabled Hefei to show a strong anti-risk ability when the industry is facing the dilemma of "lack of core and less electricity". BYD's Hefei base will produce 950,000 vehicles in 2024, accounting for nearly 70% of the city's output, becoming the mainstay of the industry.

Behind this industrial transformation is Hefei's decades of accumulation. In 1968, JAC built the first cargo light truck in Anhui, which opened the prelude to Hefei's automobile industry. Today, Hefei has gathered Jiangqi, Weilai, BYD and other vehicle enterprises, Hefei University of Technology is known as the "Huangpu Military Academy in the automotive industry".

The story of Hefei proves that urban competition is essentially industrial competition. In 2024, the added value of Hefei's above-scale industries will increase by 14.8%, of which the automobile and parts industry will increase by 38.5%, becoming the core engine driving economic development. This city, which was once "so poor that it even walked around the railway", is writing a new paradigm of China's urban industrial upgrading with "venture capital thinking".(This article is from the official website of Seetao www.seetao.com. Reprinting without permission is strictly prohibited. Please indicate Seetao.com + original link when reprinting) Seetao.com Strategy Column Editor/Sun Fengjuan

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