Changan Auto, BYD agree to cooperate
Print Edition
Chinese automaker Changan Automobile and BYD signed a strategic cooperation agreement yesterday in Shenzhen to collaborate on new-energy vehicle, intelligent and connected vehicle as well as car-sharing.
鈥淭his cooperation has strategic significance to the development of BYD鈥檚 battery business and long-term development of our company,鈥 said BYD founder and Chairman Wang Chuanfu.
Zhang Baolin, president of Changan Automobile, said the cooperation will transform his company from a traditional car manufacturer to a technology company with intelligent products and services.
They also plan to establish a joint venture, to be based in Chongqing, to produce and sell batteries for new-energy vehicles, and Changan Automobile will become a shareholder of BYD鈥檚 battery business unit.
The two companies agreed to conduct in-depth research on battery recycling, fast charging and battery swap to improve their capabilities in the new-energy vehicle sector.
The two partners will set up a car-sharing business in which consumers can drive BYD鈥檚 new-energy vehicles by using Changan Automobile鈥檚 car-sharing platform. The two companies will also cooperate in intelligent and connected vehicles and autonomous driving.
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