Baic new energy company energy storage

What is BAIC's new energy vehicle strategy?

BAIC has announced a new energy vehicle strategy that includes a further investment of 100 billion yuan (ca $15 billion). The strategy starts with the halt of sales of ICE vehicles in Beijing in 2020. BAIC has detached its EV strategy from fossil-based vehicles by not producing any hybrid models.

Will BAIC invest in a battery cell manufacturing plant in Beijing?

After establishing the joint venture company, it will invest in constructing an intelligent battery cell manufacturing plant in Beijing. According to the announcement, BAIC Investment and Beijing Hainachuan are related parties of BAIC BluePark, constituting a related party joint investment transaction.

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.

Is BAIC launching a new EV brand in China?

BAIC Group is very active in new energy vehicle market developments in China. Recently in January this year, the company was reported to have chalked out plans to launch a new EV brand in partnership with Hyundai Motor Company, with talks even on to locally-build EVs in the country.

What is 'Beijing era new energy technology?

Image for representation purposes only. Chinese firms CATL, Beijing Automotive Group Co. (BAIC) and Xiaomi Auto are joining hands to establish a joint venture named 'Beijing Era New Energy Technology Co. Ltd.' to establish a state-of-the-art, intelligent manufacturing facility for battery cells in Beijing.

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.