Baic blue valley energy storage

Will BAIC build a battery cell plant in Beijing?

BAIC is joining forces with CATL and Xiaomi Auto to build a battery cell plant in Beijing. The three companies are setting up a joint venture called Beijing Era New Energy Technology, which will have capital totalling one billion yuan (138 million US dollars).

What is BAIC bluepark new energy technology?

On the evening of March 11th, BAIC BluePark New Energy Technology announced that to ensure a stable supply of power batteries and support industrial development, the company plans to establish a platform company in partnership with BAIC Investment, Beijing Hainachuan.

Who is BAIC bluepark?

BAIC BluePark is in the new energy vehicle business with the popular brand Arcfox. The proposed joint venture company’s scope of business includes developing, producing, and selling lithium-ion batteries, power batteries, and energy storage batteries, as well as providing related after-sales and technical consulting services.

What happened to BAIC bluepark?

BAIC BluePark has made significant investments in the new energy vehicle market in recent years, but the company is currently experiencing losses. The company stated that the competition in the new energy vehicle market is becoming increasingly fierce.

Is bluepark establishing a platform company for EV battery JV?

News reports suggest that BAIC Group's BluePark New Energy Technology is establishing a platform company in partnership with BAIC Investment, Beijing Hainachuan to serve as the management and investment agency for the battery JV. BluePark is the manufacturer of Arcfox brand of EVs sold in China.

Are BAIC investment and Beijing hainachuan related parties?

According to the announcement, BAIC Investment and Beijing Hainachuan are related parties of BAIC BluePark, constituting a related party joint investment transaction. BAIC BluePark is in the new energy vehicle business with the popular brand Arcfox.