FAW, Changan, Dongfeng sign strategic cooperation framework agreement

Shanghai (Gasgoo)- Today, Changan Automobile signed a strategic cooperation framework agreement with FAW Group and Dongfeng Motor Corporation in Wuhan, the capital of Hubei province, according to the statement of Changan Automobile.

In accordance with the agreement, three companies will cooperate in advanced generic technology innovation, the whole value chain operation of the auto industry, the strategy of going global together and new business mode. The statement says that the cooperation signifies that the three state-owned enterprises plan to conduct comprehensive cooperation to promote the development of China auto market and enhance the strength of Chinese auto brands.

In the technology innovation, three parties will involve actively in the establishment of national innovation center for intelligent-connected vehicles. They will set up an advanced generic technology innovation center, focusing on such fields as new energy, intelligence, internet connectivity and light weight. Besides, they will co-invest and co-develop strategic core technology and platform, and finally share the technology.

The three companies will strengthen the synergy in vehicle platform and powertrain technology and foster the cooperation in manufacturing and collaborative purchasing. In their overseas expansion, the companies will embrace the One Belt and One Road Initiative and explore the cooperation possibility in products, business partners, manufacturing resources of their overseas business.

What’s more, the three companies will work together to develop new business mode and strengthen the research and cooperation in ride sharing, travelling service and auto industry ecology.

According to the statement, FAW, Dongfeng and Changan will implement the strategic projects actively to promote the upgrading of China auto industry and make contributions to the country’s transformation from a big auto market to a powerful auto country.