（Cover image source: Evergrande Group）
In a recent announcement on March 15th, Evergrande disclosed that they have set up a joint venture with Beijing Wutong Vehicle Connectivity Technology Co., Ltd., which is a subsidiary of Tencent. Evergrande and Tencent’s subsidiary respectively invested 60% and 40%. The announcement indicated that “both parties will leverage their strengths in new energy vehicle R&D and manufacturing, artificial intelligence, big data, cloud computing, and transportation ecology, and develop a world-leading intelligent operating system for vehicles with independent intellectual property rights, as well as build a globally leading intelligent vehicle ecosystem.”
Founded in July 2018, Wutong Vehicle Connectivity Technology Co., Ltd. is a joint venture launched by Tencent, which split off its connected vehicle operating system and technology base business, with Changan and Jiaxing Xinglian as initial shareholders. The three companies hold 51%, 37.11%, and 11.89% stakes, respectively. Wutong Vehicle Connectivity Technology Co., Ltd. is an important platform for Tencent’s industrial internet, mainly outputting connected vehicle operating systems.
Do you remember last August when Evergrande’s auto company, Hengchi, launched six models at once, covering all levels from A to D, including sedans, SUVs, MPVs, and crossovers? In February of this year, Hengchi started winter testing, and Xu Jiayin, the founder of Evergrande, even visited the site.
Last year, Hengchi announced that they would start trial production in the first half of this year and gradually achieve mass production in the second half of the year. According to the plan, we can see the actual vehicle in a few months; I am really looking forward to it.
🔗Source: Disclosure News
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.