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Sinogold is a complete vehicle manufacturer in China's new energy vehicle sector. Founded in 2016, the company is headquartered in the High‑tech Development Zone of Zibo, Shandong Province, and is a wholly owned subsidiary established by Shandong Sinogold Group in the Zibo High‑tech Zone. With a registered capital of 1.5 billion RMB, it specialises in the R&D, manufacturing, and sales of new energy vehicles and their parts.
The founder and chairman of Sinogold is Su Jinhe. In 2010, Su joined Zotye Holding Group, where he led the launch of the compact car strategic direction and the Zotye Z100, and later led the Zotye Changsha division in transitioning to new energy models with the launch of the Zotye Cloud 100. In 2015, he took control of Shaanxi Tongjia Automobile and served as chairman, launching the pure electric logistics vehicle "Dian Niu 1." In January 2016, Su returned to his hometown of Shandong to found Sinogold. Drawing on his deep experience in the NEV space, Su led Sinogold to complete factory construction and product development in a short timeframe, securing Shandong Province's first pure electric passenger car "dual qualification" and making Sinogold the first local enterprise in Shandong to independently obtain national NEV passenger car production qualifications.
Sinogold's positioning is to become "China's leader in scaled private custom cars," focusing on the new energy passenger car market and adhering to a "user‑centric" philosophy, with "smart mobility" and "private customisation" running as parallel tracks. Leveraging the broader industrial layout of the Sinogold Group, the company has achieved full‑line product coverage across new energy passenger cars, logistics vehicles, and buses.
Early Stage (2016–2017)
Sinogold was officially registered in January 2016, and Sinogold Group was established in June of that year. The company completed factory construction and production line installation in Zibo, Shandong, in just nine months. The plant covers 436,681 square metres, with production equipment—1,169 units—procured globally to Industry 4.0 standards, including 413 ABB and KUKA high‑precision robots, achieving an automation rate of 90%. On September 27, 2017, Sinogold officially launched its brand in Zibo and released its first pure electric MPV model, the GM3, positioned as a six‑seat pure electric MPV. The GM3 was equipped with ternary lithium battery packs in two capacities—55 kWh and 66 kWh—offering maximum ranges of 400 km and 500 km respectively, and supporting both fast charging (80% in 30 minutes) and battery‑swap mode (swap completed in three minutes).
Qualification Approval and Market Expansion (2018–2019)
In March 2019, the Shandong Provincial Development and Reform Commission approved Sinogold's pure electric passenger car construction project, with an annual production scale of 100,000 units (60,000 MPVs and 40,000 SUVs). In June 2019, the Ministry of Industry and Information Technology approved Sinogold's pure electric passenger car production qualification. Sinogold became one of 13 pioneers nationwide to secure dual pure electric passenger car qualifications, and also became the first new energy passenger car enterprise in Shandong to independently obtain national "Road Motor Vehicles and Production Enterprises" announcement status. Prior to this, Sinogold had relied on Shaanxi Tongjia's production qualification to manufacture and sell through its branch. Around the time of qualification approval, Sinogold participated in taxi and official vehicle projects in multiple regions and secured some orders.
Financial Difficulties and Restructuring (2019–2021)
Lacking external capital injection and new investment support, Sinogold faced severe operational difficulties around 2019, with arrears in employee wages, social insurance, and supplier payments at one point. In 2020, production and operations stagnated for an extended period. To sustain the business, the Zibo local government began seeking external acquirers. Geely Technology Group had been in contact with Sinogold, but negotiations ended by late 2021. In May 2021, Sinogold officially became a wholly owned subsidiary of the Zibo High‑tech Zone, fully taken over by local state‑owned capital, marking the beginning of the "New Sinogold" phase. Following the restructuring, Sinogold formed a 300‑person R&D team, increased R&D investment, and promoted digital and intelligent transformation.
Product Line Expansion and Overseas Growth (2022–2024)
In November 2022, Sinogold's first A00‑class pure electric vehicle passed the MIIT announcement, marking its entry into the A00‑class pure electric passenger car segment. Data from the China Passenger Car Association shows that in September 2022, Sinogold Junxing sales reached 4,200 units, with cumulative January‑September sales exceeding 15,000 units. In 2023, Sinogold made significant overseas breakthroughs. In April, the first batch of international orders was delivered. In July, a strategic cooperation memorandum was signed with a leading automotive group in the Middle East, confirming an annual order requirement of 60,000 units. In December 2023, the first batch of Sinogold Junxing departed from Qingdao Port for export along the Belt and Road route—described by the market as opening a "New Age of Navigation" for Shandong new energy vehicle brands going global.
Sinogold's product lineup spans multiple sub‑segments, including compact MPVs, compact sedans, and micro EVs, with the following key models:
Sinogold GM3. Sinogold's first production model, positioned as a compact pure electric MPV. It measures 4,615×1,845×1,655 mm with a 2,840 mm wheelbase. Initially offered in 2+2+2 six‑seat and 2+3 five‑seat layouts. It is equipped with ternary lithium battery packs, with cells supplied by BAK Battery and PACK assembly completed in‑house by Sinogold. Available in 55 kWh and 66 kWh versions, offering NEDC ranges of 350 km and 400 km respectively, with maximum ranges of up to 400 km and 500 km. Fast charging can reach 80% in 30 minutes, and battery‑swap mode is supported with a swap time of approximately three minutes. The electric motor delivers a maximum of 163 horsepower, with 0‑100 km/h acceleration in 7.8 seconds.
Sinogold Junxing. Sinogold's strategic model, positioned as a compact pure electric sedan. Launched in late 2021, it measures 4,572‑4,602 mm in length, 1,825 mm in width, and 1,496‑1,520 mm in height. Powered by ternary lithium batteries, the drive motor delivers 120 kW of peak power, with a top speed of 152 km/h. Configurations include keyless start, tyre pressure monitoring, and rear parking radar. This model is also Sinogold's primary export vehicle. Its exterior features a flowing dynamic body shape, with a 3R‑BOBY body designed to five‑star safety standards, and is equipped with a lightweight intelligent battery control system and a high‑performance high‑power three‑in‑one motor.
Sinogold Candy. Sinogold's first A00‑class pure electric microcar, built for the "private customisation" direction. It passed the MIIT announcement in late 2022, targeting the C‑end consumer market. It measures 3,223×1,676×1,605 mm and is available in three‑door, four‑seat or three‑door, two‑seat layouts. The electric motor delivers 25 kW of total power, with a top speed of 100 km/h.
In terms of platform architecture, Sinogold has built four major R&D platforms—MPV, sedan, SUV, and microcar—and has established the Sinogold Research Institute, with strategic cooperative relationships with R&D teams in the United States, Germany, and other countries.
According to China Passenger Car Association data, Sinogold's overall sales volume remains relatively modest. The Junxing is the brand's primary sales model. In September 2022, monthly sales reached 4,200 units, with cumulative January‑September sales exceeding 15,000 units. Following its launch, the Sinogold GM3 mainly supplied the B‑end mobility market, including taxi and official vehicle channels.
In 2023, Sinogold's international order breakthrough provided a significant boost to overall sales. The company secured a 60,000‑unit‑per‑year overseas order and later confirmed an annual order requirement of 60,000 units with a Middle Eastern automotive group. According to company projections, total vehicle output value for 2024 is expected to reach 7‑10 billion RMB, with new energy vehicle exports exceeding 70,000 units.
Financially, Sinogold experienced a broken capital chain and debt crisis prior to restructuring, and relied on government intervention and state‑capital injection to sustain operations for a period. Since the 2021 restructuring, overseas market breakthroughs have helped the company enter a recovery and growth phase, though no specific financial report data has been published for the past two years.
Sinogold has independent R&D capabilities in core new energy technologies. The company has established three major R&D institutions, including the Product Technology Research Institute and the Intelligent Application Research Institute. As of 2024, it has obtained 369 authorised patents, covering core technology fields such as vehicle control systems and power battery management. The independent R&D rate of its products stands at 90%.
In the "Three Electrics" space, Sinogold holds independent intellectual property rights for motors, batteries, electronic controls, and battery management systems, and has established corresponding industrial companies for independent market operations. The ternary lithium battery in the GM3 model features cells supplied by BAK Battery and PACK assembled in‑house by Sinogold. Fast charging can reach 80% in 30 minutes, while battery‑swap mode completes a swap in under three minutes. Sinogold also owns multiple core achievements, including ternary lithium batteries, battery‑swap technology, and flywheel energy recovery technology.
On the manufacturing front, the Sinogold factory was built to German Industry 4.0 standards, featuring stamping, welding, painting, and assembly production lines, along with battery assembly lines. It extensively uses ABB and KUKA high‑precision intelligent robots, with an automation rate of 90%. In terms of capacity, it has an annual production capacity of 100,000 pure electric passenger cars, with plans to gradually scale up to 200,000 units in the future.
Sinogold has made overseas markets a strategic priority since 2022. The company has adopted a "domestic plus international" dual‑track strategy and is actively expanding its global footprint. In April 2023, Sinogold delivered its first batch of international orders, exporting the Sinogold Junxing and Sinogold Candy models to the Dominican Republic in North America. In July of the same year, Sinogold signed a strategic cooperation memorandum with a leading Middle Eastern automotive group, confirming an annual order requirement of 60,000 units. In December, a bulk shipment ceremony was held at Qingdao Port, with a container ship fully loaded with Sinogold Junxing vehicles departing along the Belt and Road route.
To date, Sinogold has established strategic partnerships with dealers in 23 countries and regions—spanning the EU, Latin America, the Middle East, Africa, and Asia—covering a total of 26 countries. The company plans to further expand export markets to North America, Central and South America, Southeast Asia, and other regions, while also signing large‑scale order contracts with Central Asian and right‑hand drive markets. As overseas industrial parks and supply chains gradually come online, Sinogold's export market capability is expected to improve further. In 2025, the output value of vehicles and parts is projected to reach 15‑20 billion RMB.
Sinogold continues to optimise its smart factory operations, leveraging digitalisation and intelligent transformation to steadily improve production efficiency and quality. Following its 2021 restructuring, Sinogold has taken new energy vehicles as its industrial foundation and actively advanced an "internal promotion and external extension" efficiency strategy. It is building an industrial park of approximately 500 mu (around 77 acres), attracting core component suppliers—including motors, batteries, and intelligence systems—to set up local operations, with a target local matching rate of 40%.
Looking ahead, Sinogold plans to deepen its presence in the new energy market across the A, A0, and A00 product lines, advancing its smart mobility and customisation strategy while strengthening channel expansion and service system development in global markets to navigate the next round of competition and change in the global new energy vehicle landscape.
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