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FAW, Dongfeng, Changan form tech venture
Automotive News China | 2017/12/5

China FAW Group Corp., Dongfeng Motor Co. and Chongqing Changan Automobile Co. are forming a broad partnership to jointly develop vehicles and electric-vehicle technologies, and coordinate expansion overseas.

Under the sweeping agreement disclosed Friday, the three state-owned automakers will jointly develop vehicle platforms and powertrains, and coordinate purchasing, vehicle production and shipments. 

The companies will build an r&d center to develop technology for EVs, vehicle connectivity and lightweight materials. And they will also coordinate overseas vehicle production, distribution and foreign partnerships.

FAW, Dongfeng and Changan each operate lucrative joint ventures with foreign automakers but they have failed to develop strong brands of their own.

They lag far behind domestic and foreign rivals in Chinas fast-growing EV market and they have been slow to expand overseas.

Under the new partnership, they aim to catch up to state-owned competitors such as SAIC Motor Corp. and BAIC Motor Group, and private companies such as BYD Co. and Geely Automobile Holdings.

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