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The future looks promising: Changan and GAC sign a strategic cooperation framework agreement.

2024-06-07

The future looks bright: Changan and GAC sign a strategic cooperation framework agreement.

On June 6, Changan Automobile and GAC Group signed a strategic cooperation framework agreement in Chongqing. Adhering to the principles of complementary advantages and mutual benefit, the two companies will collaborate strategically in areas such as shared platforms and technologies, industrial chain ecosystems, international business, and industry funds, jointly enhancing the core competitiveness of China's automotive industry.

Under the witness of Wang Xia, Chairman of the Automotive Industry Committee of the China Council for the Promotion of International Trade; Zhou Qing, Counselor of the Chongqing Municipal Government; Zeng Qinghong, Chairman of GAC Group; and Zhu Huarong, Chairman of Changan Automobile, He Xianqing, Deputy General Manager of GAC Group, and Wang Hui, Vice President of Changan Automobile, signed the strategic cooperation framework agreement on behalf of their respective companies.

Guangqi Group Chairman Zeng Qinghong stated: "Currently, China's automotive industry is undergoing a transformation of unprecedented magnitude in the past century. Upholding our strategic direction and historical mission to strengthen and expand our own-brand automobiles, Guangqi and Changan are fully leveraging their respective industrial resource advantages to forge a strategic partnership. This collaboration is not only a proactive choice aimed at enhancing the overall competitiveness of both automotive groups and achieving long-term sustainable growth, but also an objective necessity for fostering robust alliances between central state-owned enterprises and local state-owned enterprises, thereby driving high-quality development in the automotive industry. Moving forward, Guangqi and Changan will strive to contribute even more wisdom and strength toward building a powerful automotive nation."

Chang'an Automobile Chairman Zhu Huarong stated: "Chang'an Automobile and GAC Group are both quintessential representatives of China's automotive industry, and they have consistently maintained a remarkably friendly and collaborative relationship. This strategic partnership, guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, will truly enable both parties to complement each other's strengths, share resources effectively, and achieve strategic synergy. Together, we will tackle fierce industry competition head-on, foster new forms of productivity, jointly address the industry's persistent pain points, and deliver even more exceptional product and service experiences to our users."