Is the joint venture a good thing for Weilai and Guangzhou Automobile?

Recently, Guangqi Weilai New Energy Automobile Technology Co., Ltd. issued a new appointment for personnel, and appointed Wang Qiujing and Gu Huinan as directors of Guangqi Weilai New Energy Automobile Technology Co., Ltd., and appointed Wang Qiujing as the vice chairman. At the same time, Liao Bing was also nominated as the general manager of Guangqi Weilai New Energy Automobile Technology Co., Ltd.

Is the joint venture a good thing for Weilai and Guangzhou Automobile?

Since 2017, GAC Group has been laying out new energy fields. It has not only established GAC New Energy Automobile Co., Ltd., but also established a joint venture company, Guangzhou Automobile Weilai New Energy Automobile Technology Co., Ltd., with Weilai Automobile.

The joint venture company was jointly established by Guangzhou Automobile Group and its wholly-owned subsidiary Guangqi New Energy Automobile Co., Ltd. and Shanghai Weilai Automobile Co., Ltd. and Hubei Changjiang Weilai New Energy Industry Development Fund Partnership (Limited Partnership). The company plans a total investment of 12.8. 100 million yuan, registered capital of 5 million yuan, instalment investment, the first phase of registered capital of 200 million yuan, of which Guangzhou Automobile Group invested 45 million yuan in 22.5% share, Guangzhou Automobile New Energy Automobile Co., Ltd. invested 45 million yuan in 22.5% share capital, funds The source is the co-ordination of Guangzhou Automobile Group. The details of the previous report of the car cloud "Guangzhou, Weilai new joint venture company, investment 1.28 billion "R & D, sales and service".

Is the joint venture a good thing for Weilai and Guangzhou Automobile?

It is reported that Wang Qiujing is a Ph.D. in automotive engineering at Tsinghua University. He is currently the dean of the Guangzhou Automobile Research Institute. He is the general manager of the Guangzhou Automobile Group, the chairman of the Guangzhou Automobile Passenger Vehicle, Feng Xingya, the deputy director of the Guangzhou Automobile Group Executive Committee, and the general manager of the Guangzhou Automobile Passenger Vehicle, Yu Jun. Known as the group "iron triangle."

Relevant information shows that in 1988, Wang Qiujing began to work on reliability experiments from Nanjing Automobile Manufacturing Plant. For more than 20 years, he has been promoted from deputy section chief to section chief, deputy director, technical center director, and deputy general manager of subsidiary company. Deputy General Manager of the company. In 2008, Wang Qiujing joined the Guangzhou Automobile Research Institute as the executive vice president. In 2013, Guangzhou Automobile Group announced a large-scale personnel adjustment, Wang Qiujing was promoted to the executive deputy general manager of GAC Fiat. In May 2016, Wang Qiujing was transferred back to the dean of the Guangzhou Automobile Research Institute, responsible for important work such as product development and quality control.

It is worth noting that Gu Huinan is the current director and general manager of Guangzhou Automobile New Energy Automobile Co., Ltd., and Liao Bing is also preparing for the joint venture company from the assistant position of the president of Guangzhou Automobile Research Institute. Such human allocation can be seen in the focus of GAC on this joint venture.

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