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A new brand has been born in the Chinese market! Guang Qi Wei Lai's new brand "HYCAN Co-creation" has been officially launched, in addition to the brand LOGO, while the first concept car under the Co-Chuang brand has also been unveiled.

On December 28, 2018, GAC GROUP and Xilai officially signed a memorandum of strategic cooperation: the two sides are committed to all aspects of the industrial chain to carry out comprehensive cooperation. Among them, the two sides will take the lead in setting up joint ventures to develop the whole vehicle market of new energy vehicles. The joint venture company plans to have a total investment of 1.28 billion yuan and a registered capital of 500 million yuan. Among them, GAC GROUP contributed 45 million yuan according to 22.5% share ratio, and GAC NE Automobile Co., Ltd. contributed 45 million yuan according to 22.5% share ratio. The core teams of Guangzhou Automobile, NIO and Hechuang account for 45%, 45% and 10% of the shares respectively.

Guang Qi Wei to create a brand concept car is an electric SUV, the size of the body is similar to that of the ES6. The mass production version of the car will be mass produced in the GAC Zhaopin New Energy vehicle Industry Park and will be delivered to users in the first half of 2020.

It is understood that GAC is mainly responsible for vehicle research and development and production, while NIO provides intelligent network technology and energy support system.

At present, 100 new car manufacturers have been born in China. With the intensification of market competition and the decline of new energy subsidies, these enterprises will also face a reshuffle, while most of them have not yet achieved mass production delivery and are still on the way of financing.

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