Foundation of the Beijing Automotive Powertrain Base

On the morning of February 26th, Beijing Automotive Powertrain Base officially laid the foundation in the Eastern District of Beijing Tongzhou Economic Development Zone, and Beijing Automotive Powertrain Co., Ltd. was unveiled at the same time. This signifies that Beijing Automotive Industry Holding Co., Ltd. (Beiqi Holding Company) has taken a crucial step in the process of accelerating independent innovation and industrial chain construction after successfully acquiring Saab Engine's core technology assets.

Since 2009, in order to promote independent innovation and master the core technology of self-owned brand passenger car powertrain, Beijing Automotive Holding Co., Ltd. formally established a powertrain company and cooperated with German Bosch Group on CVT project of stepless transmission and acquired Saab related knowledge. Property rights and technology, and made major breakthroughs in the introduction and digestion of technology, laid a solid foundation for accelerating the development process of the powertrain, improving the industrial chain construction, and achieving the grouping strategic goals.

On December 22, 2009, Beijing Auto Holding Co., Ltd. and Tongzhou District signed a strategic cooperation memorandum and powertrain project agreement. This project officially settled in the Eastern District of Tongzhou Economic Development Zone. On February 9, 2010, Powertrain Co., Ltd. was incorporated and successfully implemented the transition from branch to subsidiary management.

It is reported that the Beijing automobile powertrain base consists of an R&D center, an engine factory, and a transmission plant. The total land area is 1,559 mu, of which construction land area is about 1,000 mu. The planned total investment is 10 billion yuan. By 2015, the base will form an annual output of 400,000 sets of advanced gasoline engines, 300,000 sets of CVT transmissions, and 300,000 sets of MT transmissions. It will become an integrated research and development, design and manufacture, integrated and modular production, leading domestically. The world-class powertrain base provides the core powertrain products for the development of Beijing Auto's own brand and becomes a new economic growth point for the development of Beijing Automotive Group.

The relevant person of Beijing Auto Holding Company stated that the foundation of the Beijing Automotive Powertrain Base and the establishment of Beijing Automotive Powertrain Co., Ltd. will not only be conducive to optimizing the integration of the industrial structure of the Beijing Automotive System, but also greatly promote the independent innovation capability of Beijing Automotive, and be better for the independent brands. Provide basic conditions for faster development; and it will surely provide strong support for Beijing Automotive Group to achieve leapfrog development, boosting Beiqi to become a domestic first-class car that meets the functional orientation of the capital and adapts to the adjustment of the economic structure of the capital with its core competitiveness. group.