SERES Group to pour 1.5 billion yuan in new energy vehicle upgrade project in Chongqing

Beijing (Gasgoo)- Chinese automaker, who is also the automaking partner of Huawei, SERES Group, announced its new energy vehicle (NEV) upgrade project in Chongqing’s Liangjiang New Area on September 29.

Photo credit: SERES

The company has inked a strategic cooperation agreement with the management committee of Liangjiang New Area on September 17 this year, in an effort to promote SERES’ target to become one of the leading companies in the new energy automobile industry. Per the agreement, the two sides will jointly help Chongqing build a world-class intelligent connected new energy vehicle industrial cluste by investing in the construction of a NEV industrial park, which the company dubbed it as a "NEV upgrade project", in the area. 

With a planned investment of 1.5 billion yuan ($208 million), the projects are estimated to be completed on Sept. 30, 2023. 

The strategic cooperation between the company and the management committee of Chongqing Liangjiang New Area complies with the national strategic requirements of "carbon peak" and "carbon neutrality", and conforms to the national strategic development plan. This strategic cooperation is also another layout of the company's strategic development, which provides strong resource support for SERES’ R&D and production of intelligent electric vehicles, helps boosting its future business development and market expansion.