On Friday night, Yongtai Technology announced that the company signed a strategic cooperation agreement with Beijing Automotive Group Industrial Investment Co., Ltd. ("Beiqi Industry Investment"). The two parties intend to carry out investment, mergers and acquisitions, integration and other businesses in the relevant industries such as the Internet of Vehicles. The period is two years.
According to the agreement, the two parties intend to play their respective advantages in the related industries such as the Internet of Vehicles, focusing on the in-depth cooperation between the vehicle networking technology and business level, the investment of the vehicle network enterprise and the industrial integration, and the equity level, and focus on the strategic development of each company. We will carry out investment, mergers and acquisitions, integration and other businesses to enhance and consolidate the company's industry position and achieve win-win cooperation.
In terms of specific cooperation content, BAIC Industry Investment will serve as the company's consultants and financial consultants to assist the company in the investment and M&A activities in the field of vehicle networking. The two parties are currently jointly investing in M&A integration of Shenzhen Mesaida Technology Co., Ltd., and the future. Joint investment M&A will be continuously strengthened for vehicle networking companies. At the same time, the two sides will jointly launch an investment M&A fund that is mainly invested in the field of car networking, and deep integration of the car networking industry.
Yongtai Technology said that BAIC Industry Investment is the only platform for BAIC Group's foreign investment and capital operation, and has the first professional vehicle networking industry investment fund in China. It has a unique industrial background and rich management and operation experience in the field of vehicle networking. Project channels and strong financial strength and project selection channels. This cooperation has a very positive effect on the company's development and expansion of the car networking business and the promotion of future strategic layout.
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