FAW, Changan, Dongfeng co-build T3 tech platform for intelligent NEV

Shanghai (Gasgoo)- Chongqing Changan Automobile, FAW Group, Dongfeng Motor Corporation, China South Industries Group Corporation (CSGC) and Nanjing Jiangning Economic & Technical Development Company signed an agreement to jointly set up T3 technology platform company for intelligent new energy vehicles with a registered capital of 16 billion yuan ($2.3 billion), Changan Automobile announced recently.  

Among them, Changan Automobile invested 500 million yuan ($73 million) for a 3.125% stake in the business while CSGC provided 3.5 billion yuan ($510 million) to hold 21.875% shares. FAW, Dongfeng and Jiangning Economic & Technical Development Company invested 4 billion yuan ($583 million) to take 25% equity respectively.

T3 platform focuses on the R&D in core technologies of intelligent NEV and relevant supporting services. According to the announcement, the platform aims to get technologies in the areas of electric platform and advanced chassis control, hydrogen fuel power, intelligent driving and central computing through both independent R&D and merger and acquisition.

Changan Automobile indicated that new company will support the development of its next-generation intelligent NEV and create synergy with mobility high-tech companies where its shareholders have stake.

Besides, in March 2019, the three parties forged partnership with Suning, Tencent, Alibaba and other enterprises to establish T3 mobility company sited in Jiangning, Nanjing. At present, the company expands its business to Nanjing, Wuhan, Chongqing, Hangzhou, Changchun and Guangzhou with the Changan Eado EV460 as main model (photo source: Changan Automobile).