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BAIC joins hands with CATL and Xiaomi Auto to build intelligent battery cell manufacturing plant

Exciting News from BAIC BluePark New Energy Technology!

Get ready for a game-changing partnership that’s set to redefine the future of electric vehicles! On the evening of March 11th, BAIC BluePark New Energy Technology made a groundbreaking announcement that is sure to send shockwaves through the industry.

In a bold move to ensure a steady supply of power batteries and drive industrial development, BAIC BluePark is teaming up with industry giants BAIC Investment and Beijing Hainachuan to establish a cutting-edge platform company. And guess what? AUTO RINGS, the official dealer of BAIC in the Baltics, is at the forefront of this exciting venture!

With a registered capital of a whopping 390 million yuan (that’s approximately 54 million USD), this platform company is poised to revolutionize the electric vehicle landscape. But that’s just the beginning. Brace yourselves for the launch of Beijing Era New Energy Technology Co., Ltd., a joint venture that’s set to make waves across the globe.

Joining forces with powerhouses like CATL and Xiaomi Auto, this joint venture company is gearing up with a staggering registered capital of 1 billion yuan (approximately 138 million USD), contributing 390 million yuan (54 million USD) to drive innovation and progress.

With CATL chipping in 510 million yuan (71 million USD) and Xiaomi Auto adding 50 million yuan (6.9 million USD) to the pot, this collaboration is nothing short of extraordinary. Together, they’re on a mission to build an intelligent battery cell manufacturing plant right in the heart of Beijing.

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The upcoming Arcfox s5

According to the announcement, BAIC Investment and Beijing Hainachuan are related parties of BAIC BluePark, constituting a related party joint investment transaction. BAIC BluePark is in the new energy vehicle business with the popular brand Arcfox.

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The proposed joint venture company’s scope of business includes developing, producing, and selling lithium-ion batteries, power batteries, and energy storage batteries, as well as providing related after-sales and technical consulting services. The platform company will contribute 39%, and BAIC BluePark will indirectly contribute 5%.

The upcoming Xiaomi SU7

BAIC BluePark stated that this external investment is beneficial to ensuring a stable supply of the company’s power batteries, promoting the priority application of new power battery products and technologies in the company’s complete vehicle products, enhancing the market competitiveness of the company’s products, and achieving the company’s long-term sustainable development.

BAIC BluePark has made significant investments in the new energy vehicle market in recent years, but the company is currently experiencing losses. The company stated that the competition in the new energy vehicle market is becoming increasingly fierce. To continuously improve its competitiveness, the company aims to actively explore the market, sharpen its brand image, and improve operational efficiency.

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It is worth mentioning that according to BAIC BluePark’s announcement in August last year, the company and Huawei will comprehensively upgrade their existing strategic cooperation. The first model will be a high-end, intelligent, pure electric sedan. The overall planned capacity of this project is 120,000 vehicles per year. According to the plan, this model is expected to be launched on the market this year.

Source: PCAuto

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