Changan, FAW, Dongfeng set up new company

Beijing (Gasgoo)-  Information from database query platform Tianyancha showed that a new company has been recently established with a registered capital of 16 billion yuan by five shareholders, namely Chongqing Changan Automobile, FAW Group, Dongfeng Motor Corporation, China South Industries Group Corporation (CSGC) and Nanjing Jiangning Economic & Technical Development Company.

Three of its five shareholders, Changan, FAW and Dongfeng have carried out cooperation in various fields. In December, 2017, the three state-owned automakers signed a strategic framework agreement, under which the companies will work together in forward-looking technologies, automotive supply chain operation, oversea markets expansion and new business model exploration.

The new company’s business involves automobile refitting service, integrated circuit manufacturing, electronic component manufacturing, NEV production and testing equipmentsales, industrial automatic control system device manufacturing, industrial automatic control system device sales, etc., with a business term of 30 years. It will further improve the cooperation among Changan, FAW, and Dongfeng.