Carmaker BAIC Group reports robust growth
( chinadaily.com.cn )
Opening-up and cooperation to boost new energy vehicle industry
Currently, the BAIC Group has created its 2025 strategy to fully turn to new energy vehicles.
The company said it has been determined to become the world-class scientific and technological innovation center of the new energy vehicle, and the world-class new energy vehicle manufacturer by 2025.
In March, led by BAIC Group, China's first National New Energy Vehicle Technology Innovation Center was founded.
To carry out the new energy vehicle strategy, BAIC group has cooperated with many firms and made deals.
In February, BAIC Group announced an investment of over 11.9 billion yuan with Daimler to build a second production facility in Beijing to produce luxury electric cars.
In March, the company teamed up with Chinese ride-hailing giant Didi Chuxing to cooperate in developing new energy vehicles.
In June, it signed an agreement with Canadian global automotive supplier Magna International to set up joint venture to develop a high-end smart battery electric vehicle, and produce BAIC's high-end electric car brand ARCFOX in Zhenjiang, East China's Jiangsu province.
Also in June, BAIC Group cooperated with Chinese car maker Brilliance to boost new energy vehicle industry development in China.
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