Gelonghui, March 8 | BAIC Blue Valley (600733.SH) announced that in order to guarantee a stable supply of power batteries and support industrial development needs, the company plans to jointly fund the establishment of a platform company with BAIC Industrial Investment and Beijing Hainachuan. The registered capital of the platform company is 390 million yuan, of which BAIC Blue Valley will invest 50 million yuan, accounting for 12.82%, BAIC will invest 240 million yuan, accounting for 61.54%, and Beijing Hainachuan will invest 10 million yuan, accounting for 25.64%. The platform company will be the management and investor, with Ningde Times New Energy Technology Co., Ltd. (hereinafter referred to as “Ningde Times”), Beijing Jingneng Technology Co., Ltd. (hereinafter referred to as “Jingneng Technology”), and Xiaomi Auto Technology Co., Ltd. (hereinafter referred to as “Xiaomi Auto”) to jointly fund the establishment of a joint venture Beijing Times New Energy Technology Co., Ltd. (hereinafter referred to as “Joint Venture”). The joint venture has a registered capital of 1 billion yuan, of which Platform Company invested 390 million yuan, accounting for 39%, and Ningde Times invested 51 million yuan, accounting for 51 million yuan. 51%, Jingneng Technology invested 50 million yuan, accounting for 5%, and Xiaomi Motor invested 50 million yuan, accounting for 5%. After the establishment of the joint venture, it will invest in the construction of an intelligent battery cell manufacturing plant in Beijing.
This foreign investment is conducive to ensuring the stable supply of the company's power batteries, promoting 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 the company's long-term sustainable development.