Recently, BAIC Blue Valley announced that it plans to jointly invest with BAIC Investment and Beijing Hainachuan to establish a platform company, BAIC Blue Core Energy Technology (Beijing) Co., Ltd., with a registered capital of 390 million yuan. This company will serve as the management and investment entity, jointly investing with Ningde Times, Jingneng Technology, and Xiaomi Motors to establish a joint venture company, Beijing Times New Energy Technology Co., Ltd. After the establishment of the joint venture company, it will invest in the construction of an intelligent manufacturing factory for battery cells in Beijing.

　　Image source: BAIC Blue Valley

　　The information shows that the registered capital of the joint venture company is 1 billion yuan, of which the platform company contributes 390 million yuan, accounting for 39%; Ningde Times invested 510 million yuan, accounting for 51%; Jingneng Technology invested 50 million yuan, accounting for 5%; Xiaomi Motors invested 50 million yuan, accounting for 5%.

　　According to relevant information, the cooperation between BAIC Group and CATL began in 2010. As cooperation deepens, both sides have deep level cooperation in supply chain collaboration, technology development, standard setting, after-sales service, and other aspects. In addition, CATL is also a major battery supplier for Jihu Motors. This cooperation to jointly build a battery cell factory will play a positive role in integrating core and high-quality supply chain resources, and planning for the long-term and stable development of Jihu.

　　On January 11th, the Beijing Municipal Development and Reform Commission announced a series of policy measures to promote economic development in the first quarter, including the plan to start construction of the Ningde Times Beijing factory project this year. In February of this year, the Beijing Municipal People's Government issued the "2024 Municipal Government Work Report Key Task List", which clearly defined the economic and social development goals and key tasks for 2024, and the Ningde Times Battery Factory project was included in it.

　　BAIC Blue Valley stated that this external investment is conducive to ensuring the stable supply of the company's power batteries, promoting the priority application of new power battery products and technologies in the company's vehicle products, enhancing the market competitiveness of the company's products, and achieving long-term sustainable development of the company.

　　This article is reprinted from Gaishi Automotive Information Network