GAC BYD to build new energy bus

On the 24th, after joint venture with Mercedes-Benz in the field of new energy, BYD established a joint venture with GAC Group GAC Group to establish GAC BYD New Energy Bus Co., Ltd. (hereinafter referred to as GAC BYD) - April 23, 2014, the people of Conghua City The government, GAC Group and BYD have jointly signed an investment agreement.

According to the agreement, Guangzhou Automobile Group and BYD will build a “Guangzhou BYD new energy bus headquarters, export base and R&D center” project in Conghua Pearl Industrial Park, and vigorously develop new energy vehicles and related technologies to develop and produce pure electric passenger cars and hybrid buses. , traditional business CMB and key components products. The agreement also mentioned that "in addition to satisfying local use, the cooperation between the two sides will also be oriented toward overseas markets and open up the export business of new energy buses."

However, the agreement did not disclose the equity distribution and investment amount of the joint venture party, but according to the recent “New Guangzhou, New Business Opportunity” 2014 major investment promotion conference, Guangqi Group general manager Zeng Qinghong disclosed that GAC and BYD jointly established a new energy source. The company's stock-to-share ratio is: GAC accounts for 49% of shares, while BYD holds 51% of shares. He also said that the joint venture company mainly develops electric bus buses with a total investment of 3 billion yuan.

Vice Chairman of the CPPCC Guangzhou Ping Xinguang, Deputy Secretary-General of the Municipal Government Pan An, Secretary of the Party Committee of Conghua City Huanghe Hong, Mayor of the city Cai Yi, Chairman of Guangzhou Automobile Group Zhang Fangyou, General Manager Zeng Qinghong, President of BYD Wang Chuanfu, Green Bus Development Division General manager Wang Jie attended the signing ceremony.

According to relevant plans of Guangzhou, by the end of 2015, the total number of new energy vehicles to be promoted in Guangzhou will strive to reach 10,000 vehicles, of which 2,000 will be used to promote the use of new energy buses. This will be a “big cake” for BYD and it is even more important that it can break through the “protection” of local protection through joint ventures and help open BYD’s new energy public domain in the region. Even the market for private dual-mode, electric cars.

Previously, BYD has established new energy automobile factories in nine domestic cities such as Nanjing, Changsha, Tianjin, Kunming, Xi’an, Shenzhen, and Huizhou by cooperating with local companies and holding factories. This will break through local barriers to protection and enter. The list of local government's new energy purchases will be used to realize its urban bus electrification strategy.

The joint venture between GAC and BYD now seems to be a joint venture between "complementary" car companies. After years of joint venture with Hino, GAC has mature passenger car technology and production experience in the field of passenger cars. BYD has mature technologies in new energy vehicles and the two parties have jointly conducted strategic cooperation in the field of new energy buses to further reduce product costs. Rich product sequences are of great benefit.

However, GAC, which has always been strong, is willing to take 49% of the shares and rank second in the stock market. This shows that its attitude is becoming increasingly open. At the same time, it also seems to indicate that today's car enterprise technology is still the trump card in the trump card. BYD relied on technology to regain one game.

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