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GAC Group and Pearl River Investment Management Group Reached Strategic Cooperation to Jointly Create New Development Modes of Intelligent Automobiles

2021-01-05 12:34:13

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05

2021-01

GAC Group and Pearl River Investment Management Group Reached Strategic Cooperation to Jointly Create New Development Modes of Intelligent Automobiles

On January 5, 2021, GAC Group, Guangdong Pearl River Investment Management Group Co., Ltd., and Guangdong Yuanzhi Science and Technology Group Co., Ltd. ("Yuanzhi Science and Technology Group") held the signing activity of projects of strategic cooperation, intelligent automobiles, etc. at Guangzhou City.

With GAC NIO New Energy Automotive Technology Co., Ltd as carrier for the intelligent automobile project, new partners will be introduced by means of capital increase and share expansion, realizing cross-industry cooperation. It is expected to make an investment of 3 billion yuan for the initial cooperation of the project, and subsequent investment of over 10 billion yuan. Both parties will fully share and integrate GAC Groups resources in respect of vehicle R&D, supporting supply and intelligent manufacturing, utilize innovative application advantages of Yuanzhi Science and Technology Group in such fields as AI technology, cooperative vehicle infrastructure, the Internet of Things, intelligent driving, intelligent network, intelligent manufacturing and big data application, and integrate the precise grasp of EDG award Gaming for values of Generation Z groups, so as to create new-generation intelligent, cool and excellent-quality automobiles for Generation Z users. With the view of further meeting user demands, speeding up brand promotion and enhancing vehicle use convenience, EDG direct sales experience center, charging service center and online user operation center will be constructed for the project in combination with the demonstration operation experience of new retail modes and by relying on integrated commercial complexes, community property management companies, hundreds of thousands of online brokers and other quality resources, in order to enable the intelligent automobiles to rapidly become smart and cool mobile travel partners favored by users and providing intimate services.

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