GAC Group News – Gasgoo

Shanghai (Gazgu) – On April 20, the GAC Group signed a framework agreement on strategic cooperation with Technology Financial Group (“TFG”), a state-owned investment firm based in Guangdong to intensify cooperation in the automotive industrial chain, the GAC Group said in a statement on WeChat. account.

GAC Group, Technology Financial Group signed the agreement; photo: GAC Group

Under the agreement, both parties plan to team up with relevant industrial capital firms, funds supported by local governments, financial capital institutions and social capital organizations to create an automotive industrial fund using TFG’s experience and resources in venture capital and GAC. Technical advantages and resources of the group in the automotive industry. The joint fund will be used to provide financial support for the development of the automotive industry.

In addition, as part of the partnership, the duo will collaborate on projects to incubate advanced automotive-related technologies, commercialize research and development results, invest in industrial technology and other businesses. The two companies will jointly hold special investment and financial events at the appropriate time.

Prior to the signing of the new agreement, GAC Group and TFG collaborated on some projects. The last step will force the two companies to deepen cooperation and collaboration in the automotive supply chain. They will strengthen the collaboration and sharing of resources in R&D and auto parts production based on GAC Group’s outstanding influence on Guangzhou’s ICV and NEV industrial chain and Guangdong Hongtu Technology’s technical innovation (a subsidiary of TFG) in car casting and interior. & outdoor areas.

In addition, GAC Group and TFG will also actively explore collaboration in talent sharing, industry research, and business training.