On December 23, GAC Group and SAIC Motor inked a strategic cooperation framework agreement in Shanghai, creating a new situation of cooperation and development in domestic automobile industry. In the presence of Chairman Zeng Qinghong of GAC Group and Chairman Chen Hong of SAIC Motor, President Feng Xingya of GAC Group and President Wang Xiaoqiu of SAIC Motor signed the agreement on behalf of the two parties.

In accordance with the aforesaid agreement, both parties will actively discuss the cooperation in relevant fields like technology R&D, resource synergy, investment layout, market expansion, business mode innovation as well as international operation. This is the first cooperation between two high-end manufacturing leaders in the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta economic circle. Both parties follow the trend of economic globalization and market integration, focus on future sustainable development, achieve powerful combination and resource sharing, and jointly create scale economy and synergy, thereby enhancing efficiency, providing better products and services for customers and advancing the high-quality development of China’s automobile industry.