December's big auto travel stories: $1.3 billion funding for Rivian; Azure shares soar

[? Yio guide?] In December 2019, Rivian received another $1.3 billion in financing; Geely and Daimler launched a high-end travel service called Yew Travel, which has already landed in Hangzhou; and former Renault-Nissan Chairman Ghosn fled Japan

Author 丨Ding唯一

Editor 丨Zhang Yuzhe

To make it easy for The first thing you need to do is to get to know and review the big events that took place in the automotive travel industry in December, and YEEO has organized the big events of the month according to the different categories such as traditional car companies, new car manufacturers and technology companies.

In December 2019, big car companies were in turmoil. Volkswagen was raided by German prosecutors, Toyota China was fined more than $87 million: a violation of the Anti-Monopoly Law, BMW is suspected of falsifying sales and is being investigated by the U.S. Securities and Exchange Commission (SEC); and former Renault-Nissan Chairman Ghosn fled Japan.

The new-energy vehicle sector remains hot. Dongfeng Group set up H Division, aiming at high-end new energy vehicles; Azure reached a charging service cooperation with Xiaopeng Automobile; the new energy vehicle market welcomed another new brand, Tianmei Automobile; GAC Azure's first mass-produced pure electric vehicle, the HYCAN?007, was released; electric vehicle company Rivian won another new round of financing of 1.3 billion U.S. dollars from Amazon and Ford;

The travel market is full of corporate actions. Geely and Daimler launched a high-end travel service "Yew Travel", has landed in Hangzhou, and access to Cao Cao travel, and plans to land in 2020 in North China and Guangzhou; drip enterprise version of the new layout: will be on-line "drip team version" of the small program for small and medium-sized enterprise teams The new layout of the enterprise version of DDT: it will launch the "DDT Team Edition" small program for small and medium-sized enterprise teams.

Traditional car enterprises

Changan Automobile: subsidiary new energy science and technology to introduce strategic investment, the shareholding fell to 48.95%

December 3, 2019, Changan Automobile announced that wholly-owned subsidiary Chongqing Changan New Energy Vehicle Science and Technology Company Limited intends to introduce the Nanjing Rinko, Changxin Fund, Two Rivers Fund, and the Southern Industrial Fund as strategic investors. The four shareholders are proposed to increase capital of 1 billion yuan, 1 billion yuan, 740 million yuan, 100 million yuan. After the capital increase, Changan Automobile's shareholding in new energy technology will be diluted from 100% to 48.95%, the loss of control, new energy technology into the company's associates, it is expected that the impact of the waiver of rights matter on the company's consolidated statement of account is to increase net profit by 2.291 billion yuan.

December 31, 2019, Chang'an Automobile issued a late announcement that Chang'an Automobile has signed an Equity Transfer Agreement with Qianhai Ruizhi, transferring all of its Chang'an PSA?50% equity to Qianhai Ruizhi, with a transfer amount of 1.63 billion yuan. Qianhai Ruizhi is a wholly-owned subsidiary of Baoneng Automobile Co. and its real controller is Yao Zhenhua.

After the completion of the transfer, Changan Automobile will no longer hold equity in Changan PSA. Changan Automobile expects the impact on its consolidated statement of income from the sale to be an increase of 1.352 billion yuan in pre-tax profit.

Chery's capital increase lands, Qingdao Wudaokou New Energy Automobile Industry Fund takes over

December 4, 2019? , Qingdao Wudaokou New Energy Automobile Industry Fund Enterprises (Limited Partnership) reached a capital increase and share expansion project for Chery Holdings and Chery shares, with an investment of 7.59 billion yuan and 6.86 billion yuan, and a shareholding of 30.99% and 18.52%, respectively, according to an announcement on the Anhui Yangtze River Property Rights Exchange. After the completion of the above transactions, Qingdao Wudaokou's shareholding in Chery Holdings and Chery Automobile will reach 51 percent respectively.

Toyota organizational structure adjustment, China and Asia business will be split?

On Dec. 4, 2019, Toyota officially announced that it plans to implement a new organizational structure from Jan. 1, 2020, and split its China and Asia operations, which will be conducted separately in the future. In order to achieve sustainable growth, Toyota has decided to undertake this organizational restructuring, which includes the creation of business units, the reorganization of regional headquarters, and the introduction of internal systems. The aim is to enable leaders in each business and region to implement the necessary strategies based on rapid decision-making and to strengthen and accelerate execution capabilities.? The restructuring means Toyota will further strengthen its presence in the Chinese market.

Volkswagen raided by German prosecutors?

December 4, 2019 - German prosecutors raided Volkswagen's headquarters in Wolfsburg on Tuesday in a search for information on diesel cars powered by the EA288 engine, the "successor" to the EA189 engine that was blamed for VW's 2015 "Emissionsgate," according to Reuters.

Volkswagen's EA288 engine is the "successor" to the EA189 engine that was blamed for VW's 2015 emissions scandal.

Volkswagen said that vehicles equipped with the EA288 engines showed no diesel filter failures, complied with emissions limits, and did not have illegal efficiency-reducing devices installed in the engines. Regardless of the outcome of the investigation, the news inadvertently extends the time limit for VW to be punished for the "emissionsgate" scandal.

Dongfeng Group gets European self-driving road test license; establishes H Division

On Dec. 4, 2019, Dongfeng Group released a snapshot of its November sales.In November, Dongfeng Group's sales amounted to 353,000 units, with sales of 58,000 passenger cars under its own brand, up 7.9% year-on-year, and sales of 60,000 commercial vehicles, up 20.4% year-on-year. Dongfeng Group's cumulative sales in January-November 2019 amounted to 3.248 million units, of which 480,000 were sales of independent brand passenger vehicles and 2.203 million were sales of joint venture brand passenger vehicles. The share of independent brands in the overall sales of Dongfeng Group was only 14.8%, and the joint venture brand is still an important support for Dongfeng Group.

December 11, 2019, from the Swedish Transport Agency back to the news of the show, Dongfeng Motor Group Co. technology center under the T?Engineering?AB company self-driving car public **** road test application was approved by the road permit. It is understood that Dongfeng has become the first Chinese car company to obtain a European self-driving public **** road test permit, and is also one of only five companies in Sweden to obtain a self-driving road test permit.

On December 30, 2019, You Zheng, a member of the standing committee of the Party committee and deputy general manager of Dongfeng Motor Group Co, Ltd (DFMC), told the media that the Dongfeng brand plans to release a high-end brand, internally codenamed "H", at the 2020 Beijing Auto Show, which will mainly build high-end new energy passenger car products.

The 10,000th Great Wall Cannon rolls off the production line; Haval cross-border marketing joins hands with The Great Wall

On December 5, 2019, the 10,000th pickup truck of Great Wall Motor's new pickup truck brand, Great Wall Cannon, rolled off the production line at the Yongchuan factory in Chongqing. On September 5 this year, the Great Wall Cannon's first pickup truck model, the Great Wall Cannon Passenger Edition, was officially launched. The product is the first passenger pickup truck on the Chinese market.

On December 26, 2019, Haval, the SUV brand of Great Wall Motors, joined hands with Beijing Satellite Television's "The Great Wall" program team to hold a press conference in Dunhuang, Gansu Province. It is reported that "The Amazing Great Wall" is the world's first Great Wall cultural experience IP program, which will land on Beijing TV every Saturday night at 20:30 from January 4, and the Haval H6 and Haval F7 models will participate in it, going to Jiayuguan Pass, Shanhaiguan and other Great Wall relics with many celebrities.

Bosch and Mercedes-Benz launch urban self-driving cab project

December 9, 2019, Bosch and Mercedes-Benz announced that their urban self-driving cab project will be officially launched in the Silicon Valley city of San?José. In the initial phase of the project, users will be able to book trips via a mobile app developed by Daimler Mobility, and a safety officer will monitor the Mercedes-Benz S-Class sedan equipped with self-driving technology, which will in turn transport the passengers from their designated point of departure to their destination.

Renault Group on the verge of a new CEO?

The race for Renault's new CEO is in the final stages.On December 9, 2019, French business news TV channel BFM?Business reported that the successor will be Henri Poupart-Lafarge (?Henri?), the current CEO of French transportation infrastructure group Alstom. Poupart-Lafarge). But just 2 days later, AFP and Echo reports said Renault's board of directors met on Tuesday and tipped Luca? The board of directors of Renault met on Tuesday and tipped its hand in favor of Luca? Meo (Luca?de?Meo). AFP even said that the 52-year-old Luca? de? Meo obtained the support of the French government.

Toyota China fined more than 87 million: violation of the Anti-Monopoly Law

The former Price Bureau of Jiangsu Province filed a case in December 2017 to investigate the suspected implementation of monopoly behavior of Toyota Motor (China) Investment Co, Ltd, and in December 2019, the Market Supervision and Administration Bureau of Jiangsu Province made a decision on administrative punishment in this case.

In accordance with Articles 46 and 49 of the Anti-Monopoly Law, the Jiangsu Provincial Market Supervision Administration ordered Toyota to stop the illegal behavior and decided to impose a fine of 2 percent of its sales in the previous year (FY2016), i.e., 87.613 million yuan.

BMW suspected of sales falsification, being investigated by the US Securities and Exchange Commission (SEC)

On December 25, 2019, BMW said that the US Securities and Exchange Commission suspected that BMW's sales data were falsified and was investigating after receiving a sales report released by BMW. In order to drive sales, BMW reportedly instructs salespeople to register vehicles that are still in the garage as sold. If the falsification of sales is confirmed, BMW could face huge fines.

Previously, back in 2016, BMW had falsified sales in the U.S. market. BMW declined to comment further after a BMW spokesman said it would contact the SEC and cooperate fully with the investigation.

Mitsubishi Motors to stop developing diesel cars

December 27, 2019 - Japanese automaker Mitsubishi Motors is set to stop developing diesel cars, according to foreign media reports. Mitsubishi Motors will phase out diesel vehicles in its key models by the end of 2021 and significantly downsize its existing diesel business.

First Huawei HiCar-equipped model launched, new Baojun RC-6 released

On Dec. 29, 2019, New Baojun released the world's first mass-produced car equipped with HUAWEI?HiCar Intelligent Connectivity, the new Baojun RC-6. The model is equipped with the new Baojun's latest AI Voice, Intelligent Driving, Intelligent Internet Connection and Image Recognition technologies. With HUAWEI?HiCar, the new Baojun RC-6 can provide in-vehicle camera fatigue detection, video calls, gesture interaction, and Android app eco*** enjoyment.

Gorn: Confirms he has left Japan? "Fleeing injustice and political persecution"

December 31, 2019 - Carlos?Ghosn, the dismissed former chairman of Nissan, confirmed reports from several media outlets that he had fled Japan to fly to Lebanon, CNBC reported. In a statement, Ghosn said, "I am now in Lebanon and will no longer be a hostage in a manipulated Japanese justice system where presumptions of guilt are practiced, discrimination is rampant, basic human rights are denied, and there is a blatant disregard for Japan's legal obligations as well as treaties that uphold international law."

In a press release issued in Beirut, Ghosn promised to finally communicate freely with the media, which he will do starting next week.

New car maker

Ideal Motors responds to being listed as 'executor': no relation to debt?

In the evening of December 3, 2019, Chongqing Ideal Automobile Co., Ltd. issued a response to the recent listing as an "executor": Ideal Automobile's lawsuits are all debts incurred during the period in which Lifan Group holds and operates Lifan Automobile, and the lawsuits are docked between Lifan Group and the relevant creditors after the lawsuits occur. The Lifan Group is also responsible for the handling of the later cases.

Tesla's German factory may go into production in 2021; domestic Model?3 set to start deliveries on Dec. 30

Beijing time, December 11, 2019, a German media report said that Tesla's will be constructed in Germany's No. 4 super factory will be completed in 2021, the planning of the annual production capacity of more than 500,000 vehicles, mainly used for the production of the Model?3 and the Model?Y.

On December 27, 2019, Tesla announced that it will deliver the first batch of domestically produced Model?3 to 15 employees on December 30, with delivery to the Shanghai Superfactory. This follows media reports that the first Chinese-made Model?3s have been shipped out of the Shanghai factory and will be delivered to consumers by the end of January 2020 on a large scale.

Azurite and Xiaopeng Motor reach charging service cooperation; Azurite Q3 earnings release, shares soared

December 11, 2019, Xiaopeng Motor officially announced the signing of a contract with Azurite NIO?Power, the two sides on the charging business to start the interconnection and interoperability of cooperation, **** the same as the owner to provide a more convenient travel charging experience. According to the officially announced cooperation agreement, Xiaopeng Automobile will successively realize the nationwide charging pile distribution data and payment process interconnection with Azera NIO?Power, which means that Xiaopeng car owners can use Azera super charging pile fast charging through Xiaopeng automobile app. Similarly, Azalea owners can also use Xiaopeng super charging piles to energize their cars in a number of first- and second-tier cities across the country.

On December 25, 2019, a netizen broke the news that Azalea's December salary could not be paid, waiting to be laid off. In this regard, Azalea responded that it is not that it can't send out wages, but it has adjusted the payday, from the last working day of the end of each month to pay the wages of the month, to the 8th of the next month to pay wages. The internal letter from the HR of Azure Automobile detailed that with the increasing number of employees, the payroll structure is becoming more and more complex, and the challenge of completing the monthly payroll accounting at the end of each month is becoming more and more challenging, and at the same time, there are many problems, so the payroll time will be adjusted.

On the evening of December 30, 2019, Azure announced its third quarter 2019 financial results before the opening of the U.S. stock market, the data show that Azure's third quarter revenue was RMB 1,836.8 million, a 25% year-on-year increase from the third quarter of last year. Net loss was RMB 2,521.7 million, down 10.3 percent year-on-year from last year's third quarter.

Azalea's shares soared after the U.S. stock market opened, at one point rising more than 100 percent during the session to touch $4.87, before finally closing at $3.72, a jump of 53.72 percent to a new high in the last six months, with a market value of nearly $4 billion.

New Energy Vehicle Market Welcomes Another New Brand

On December 11, 2019, a new new new energy vehicle brand, Tianmei Automobile, was announced. It is reported that Tianmei Automobile's parent company is Kaivo Automobile, which develops commercial vehicles, and its founder is Huang Hongsheng. Kaiwo Automobile was approved by the Ministry of Industry and Information Technology in 2017 as a passenger car access qualification, and underwent acceptance of the new energy access qualification in December of the same year.

Just a day after the creation of the new brand, Kaiwu Automobile signed a strategic agreement with BAK Battery to establish a long-term strategic partnership and work together to expand the new energy vehicle business. According to the agreement, Kaiwu Automobile will purchase hundreds of millions of dollars of power battery systems from BAK Battery, and *** with the advancement of new technologies, new materials, and the development of new processes.

Small Peng Automobile Board of Directors Adjustment: Yu Yongfu replaced Tsai Chongxin as a director

December 12, 2019, enterprise search data show that the operating body of the small Peng automobile, Guangzhou Orange Line ZhiDong Automobile Technology Co. Ltd. has undergone industrial and commercial changes, and the co-founder of Alibaba, Tsai Chongxin, withdrew from the position of director, and added a new director, Yu Yongfu. At present, the board of directors of Xiaopeng Auto **** have Yu Yongfu, Fu Jixun, Gu Hongdi, He Xiaopeng, Liu Qin, Xia Heng and Yang Fei.

Evergrande New Energy Vehicle Subsidiary Listed for Sale of 20% Equity

According to the official website of Shanghai Joint Property Exchange, on December 12, 2019, Evergrande New Energy Vehicle (Shanghai) Co. listed for transfer of 20% equity, with a reserve price of 442.82 million yuan, and the transferring party was Shanghai Songjiang Economic and Technological Development and Construction Group Co. the disclosure deadline was January 9, 2020, the deadline for disclosure.

In this regard, Evergrande Automobile responded that the listing of the sale of equity is normal and does not affect the subsequent production.

GAC Azure's first mass-produced pure electric vehicle HYCAN?007 released, 523km comprehensive range from 260,000 yuan

On December 27, 2019, GAC Azure's "Every Kilometer of Creation" first product launch was held in Nansha, Guangzhou. The first new SUV HYCAN?007 has a wheelbase of 2,919mm, a standard L2+ intelligent assisted driving system for the whole system, a 93kW-h battery pack, and a comprehensive NEDC range of 643 kilometers, with a price of 260,000 yuan. Three conventional versions and two private customized versions are available, of which the plus and top versions are priced from 280,000 RMB and 300,000 RMB respectively, with a combined range of 643km. It is reported that HYCAN?007 will be mass-produced in the GAC Zhilian New Energy Vehicle Industrial Park, and in April 2020, it will start delivering to users.

Ranger car has not yet mass production suspected of stopping, Huzhou government wants to take over

December 20, 2019, Huzhou City, Zhejiang Province, Wuxing District People's Government, the official release of the 35th executive meeting minutes show that "the meeting that the acquisition of the Ranger automobile industrial project land and disposal of the project in progress by the District Urban Investment Group is conducive to revitalizing land resources, resolving project risks, reducing disposal costs, and is generally feasible." The meeting agreed in principle that the District Urban Investment Group dispose of the land and works in progress of the Ranger Automobile Industry Project.

Rivian gets another new $1.3 billion round from Amazon, Ford

Dec 24, 2019 (Reuters) - Rivian, a potential Tesla rival, said on Monday it had closed a new $1.3 billion investment round led by T.?Rowe?Price, as well as investors in the previous round, Amazon and Ford Automotive. The round also included BlackRock, and the funds will be used to launch several of Rivian's models.

Beam Auto gets business license

On Dec. 30, 2019, Great Wall Motor issued an overseas regulatory announcement that Great Wall BMW's joint venture "Beam Auto Co." (hereinafter referred to as Beam) had received a business license from Zhangjiagang City Market Supervision Administration for Beam Auto Co.

But at present, the Jiangsu Provincial Development and Reform Commission for the beam of automobile production base project approval is only for fuel passenger car full export manufacturing and pure electric passenger car development, if the beam of automobile need to carry out the production and sale of pure electric passenger cars, you need to obtain the approval of the pure electric car project in advance.

Technology enterprises

Geely and Daimler launch high-end travel service "Yew Travel"

On Dec. 3, 2019, Geely Technology Group Co. managed by Zhejiang Geely Holding Group, and Daimler Mobility AG announced "Yew Travel ", the latter focusing on high-end travel services. "Yew travel" in the early stage will have 100 high-end car into service, such as Mercedes-Benz S-class sedan, E-class sedan and V-class MPV models, is expected to 2020, "Yew travel" will be the expansion of services to other major cities in China.

On December 9, 2019, Geely Automobile's new energy vehicle **** enjoy travel service platform Cao Cao Travel also accessed YAO Travel, which means that Cao Cao Travel formally realizes the "aggregation of car hailing". This means that Cao Cao Travel has officially realized "aggregated hailing" and can call different travel service brands on the platform at the same time. In addition, Yew Travel also announced that it will launch in Beijing, Shanghai and Guangzhou early next year.

Listening Companion announced that it has been invested by Four Dimensions and has entered into a partnership with it.

On December 3, 2019, "Listening Companion" announced that it had received an investment from Four Dimensions Fund under Four Dimensions, which is part of the same A round of financing as the financing completed last year from No. 1 Capital, Fashion Capital, and Hanfu Capital. "Listening companion" CEO Yu Qingmu affirmed the capital market on the intelligent cockpit and car audio track optimistic, he also said, at present listening companion is still with more investors to discuss.

Maodou teamed up with Wuling to launch its first customized car, priced at 63,800 yuan?

On December 5, 2019, the 730 Maodou Customized Edition, created by Maodou New Vehicle in conjunction with SAIC-GM Wuling***, was officially launched. The customized car is priced at 63,800 yuan, carries the Wuling logo, and is available exclusively in the online and offline channels of Maodou New Car. This is also the first time that a new domestic automotive retail platform has launched a customized version of a car in conjunction with a host factory.

Drop Enterprise Edition new layout: will be online "drop team edition" small program for small and medium-sized enterprise teams

December 5, 2019, sponsored by the drop enterprise edition of the 2019 "Ride on the momentum" enterprise travel service summit was held in Beijing. Summit was held in Beijing. The summit focused on the new pattern of travel services, digital empowerment of enterprise car management and other content. At the summit, DDT Enterprise Edition launched the "DDT Team Edition" WeChat small program, which will be released in the near future. The small program is mainly for small and medium-sized enterprise team to build, with the creation of team, join team members, team payment and other functions, so as to achieve process simplification, cost reduction and efficiency.

Baidu Apollo Organizational Structure Adds Intelligent Transportation Business Group; Approved to Launch Autonomous Driving Manned/Things Tests in Beijing

December 6, 2019, according to Sina Science and Technology, Baidu Apollo recently upgraded its organizational structure to add an Intelligent Transportation Business Group in addition to upgrades to the original Autonomous Driving, Telematics and other business groups. The autonomous driving business group has been upgraded and expanded, and is now under the jurisdiction of three departments, including the Intelligent Vehicle Business Department, the Intelligent Driving Map Business Department, and the Autonomous Driving Technology Department. The original Telematics business group continues to Xiaodu Car OS and other intelligent Telematics businesses. The latest published data show that Baidu's total number of intelligent driving patent applications reached 1,237 national first, and the total number of automatic driving road test licenses is 150.

On December 30, 2019, Beijing officially launched the automatic driving manned vehicle test, according to the Beijing Municipal Commission of Transportation. Baidu's 40 vehicles were awarded the first batch of automatic driving manned test qualifications, which have a cumulative test mileage of more than 100,000 kilometers.

BlackBerry QNX enters into strategic partnership with auto parts maker Marelli China

On December 10, 2019, BlackBerry QNX announced that it has entered into a strategic partnership with auto parts maker Marelli China to integrate the QNX?Digital Cockpit platform into Marelli's Electronics?eCockpit and Digital?Cluster solutions.

Kaivan?Karimi, senior vice president and co-head of BlackBerry Technology Solutions (BTS), said China has the potential to become the largest market for connected and electric vehicles. More than 45 OEMs are currently deploying BlackBerry QNX software in hundreds of models produced in their North American, European and Asian operations, and more than 150 million moving cars around the world are equipped with QNX software. Today nine of the world's top 10 automotive OEMs and the world's top seven automotive Tier 1 suppliers are using BlackBerry QNX's technology, Euromobile has learned.

Self-driving car company Cruise may offer *** Enjoy Rides

December 11, 2019 - Dan?Ammann, CEO of Cruise, a self-driving car company owned by General Motors, said he intends to "offer *** Enjoy Rides at a very low cost" to offer ridesharing services at a "very low cost" as part of an eventual "beyond the car" program. He said he hopes to reduce congestion by making ridesharing more attractive by providing an amazing experience at a fraction of the cost. Cruise previously announced a partnership with Honda Motor Co. to develop a self-driving car dedicated to ****enabled mobility, and Honda is one of Cruise's investors.

Ningde Times Sits atop GEM; Sichuan Plant Officially Opens

On Dec. 24, 2019, after stepping over the 100-yuan mark, Ningde Times shares continued to soar, and as of the close of business on Dec. 26, Ningde Times shares had reached 105.12 yuan, with a market capitalization of 232.147 billion yuan, surpassing Myriad Healthcare to become the highest-capitalized company on the GEM.

On December 24, 2019, the power battery project in Yibin, Sichuan Province, officially began construction with an annual capacity of 30GWh. The project is divided into two phases of construction, with a total investment of 4.5 billion yuan in the first phase of the project to build a power battery production line with an annual production capacity of 15GWh, and a total investment of 5.5 billion yuan in the second phase to build a power battery production line of 15GWh. In terms of the construction period, the first phase of the project will take no more than ?26? months from the start of construction, and the second phase of the project is scheduled to start within two years after the first phase is put into operation.

Bick Battery reaches strategic cooperation with more than ten new energy suppliers including Dangsheng Technology and Rongbai Technology

On December 26, 2019, the 2020 Supplier Conference of Shenzhen Bick Power Battery Co. was held in Zhengzhou. At the event, BAK Battery signed a strategic cooperation framework agreement with more than ten new energy suppliers, including Dangsheng Technology and Rongbai Technology. According to the strategic cooperation agreement, the future BAK Battery will fully **** with multiple suppliers to promote new energy market development.

Ali and FAW signed a strategic cooperation agreement to build the next generation of intelligent Internet-connected cars based on the Zebra system

In the evening of December 27, 2019, Ali officially announced that it signed a strategic cooperation agreement with China FAW in Changchun, and the two sides will build future-oriented next-generation intelligent Internet-connected cars based on the Zebra Intelligent System. China FAW will build a digital technology infrastructure centered on cloud computing, data intelligence, middle stage and mobile collaboration technology to promote the automotive industry into the era of intelligence on the cloud.

FAW Mobility and GoFun Mobility Reach Cooperation

On December 31, 2019, GoFun Mobility and FAW Mobility held a signing ceremony for strategic cooperation in Chengdu. The two state-owned enterprises have joined forces, and their cooperation will first land in Chengdu, Guiyang and Xi'an, and will be extended to more cities covered by GoFun's business.

The two sides will also rely on GoFun Travel's mature operation management system to start order cooperation, and with GoFun Travel's platform's high-quality traffic entrance and high-quality user base, to get higher revenue from passenger orders; at the same time, GoFun Travel will also get FAW Travel's car source supply in the process of transitioning to a lightweight model, *** creating a win-win cooperation model.

Edit: Zhang Yuche

This article comes from the author of the automobile home car family number, does not represent the views of the automobile home position.