(Yicai Global) Oct. 20 -- Chongqing Changan Automobile Co. [SHE:000625] will cease sales of traditionally fueled vehicles from 2025 and fully electrify all of its products, comprising 21 pure-electric vehicles and 12 hybrid-electric vehicles, the company said during a product release yesterday at the China National Convention Center in Beijing.

The strategy, part of the firm's Shangri-La plan, also includes an accumulative investment of CNY100 billion (USD15.1 billion) in its industry chain by 2025, mobilizing 10,000 research and development personnel and more than 400 experts, strengthening its R&D capabilities in advanced new energy.

Changan Automobile aims to create autonomous electric vehicles with a range of more than 1,000 kilometers and develop autonomous driving functions to some extent.

The enterprise also aims to cooperate with partners and internet firms to build a new-energy industry fund and achieve innovative cooperation in multiple fields.