AutoBeta(AutoBeta.net)04/30 Report--

The new power of car building, which is constantly financing, has rescued some of the self-owned brands with poor performance to some extent. On April 30, FAW Xiali officially announced the establishment of a joint venture company with Nanjing Bojun New Energy vehicles to jointly produce new energy vehicles.

The announcement said that in order to achieve complementary resources and jointly develop the new energy vehicle market, FAW Xiali plans to contribute with assets and liabilities related to land, plant and equipment related to the whole vehicle, and Nanjing Bojun New Energy Automobile Co., Ltd. with cash contribution, set up a joint venture company in the company location to produce new energy models.

FAW Xiali made use of its own assets to solve the company's follow-up development and staff problems, while the new force of car-building Bojun Automobile was qualified to build cars.

After the establishment of the joint venture, Boxun Automobile guarantees that in the future new product launch and development planning, priority will be given to ensuring that the production capacity of the joint venture will be fully utilized, and as many employees of FAW Xiali will be employed as much as possible.

In addition, FAW Xiali also released its first-quarter results, with operating income of 1.349 billion yuan, down 64.06% from the same period last year, while the net profit attributed to shareholders of listed companies was a loss of nearly 200 million yuan. FAW Xiali, which is almost on the verge of being eliminated and unable to make ends meet, is on the verge of being eliminated and unable to make ends meet. It is possible that FAW Xiali, which is on the verge of being eliminated and unable to make ends meet, has made every effort to develop new energy vehicles and achieve transformation and development.

(Boxun Automotive logo)

Boxun Automobile, founded in December 2016, is one of the "low profile" of the new car-building forces in China, and the new car is also advancing more slowly than other new power companies. Boxun Motor was founded by Huang Ximing, chairman and president of the company, who once worked for Ford Motor and General Motors in the United States, and then founded his own automotive engineering and technology company to undertake chassis system, interior and exterior design and other work.

It is said that Boxun has formed a research and development team of 800 people in China and the United States. Bojun Automobile Factory is located in Pukou, Nanjing, with a planned production capacity of 150000 vehicles in the first phase and a total production capacity of 300000 vehicles when the second phase is completed. As it is not yet qualified to build a car, Boxun plans to produce the first SUV in 2019 through contract manufacturing.

In March 2018, Boxun signed a strategic cooperation agreement with FAW Jilin Automobile, which plans to cooperate in the development, production and sale of new energy vehicle products. Boxun's first pure electric SUV will also be manufactured by FAW Jilin.

Coupled with the joint venture with FAW Xiali, Boxun Automobile is looking for a variety of ways to produce new energy vehicles.

At this year's Shanghai Auto Show, Boxun Auto exhibited two Boxun iV6 and iV7 models, of which the Boxun iV6 was sold in advance of 25-350000 yuan, with an official comprehensive range of 530-610km, which will be delivered in the first quarter of next year.

The cooperation between traditional automobile enterprises and the new power of car-building will be more frequent in the future, but with the impact that China's new energy vehicle subsidies are about to be completely withdrawn, there is not much time left for the new power of car-building. A number of people in the industry have predicted that the withdrawal of subsidies is the time for new car companies to usher in a big reshuffle.

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