BAIC Group and Magna set up a joint venture to create a new model for high-end new energy vehicle industry cooperation. Recently, BAIC Group and Magna held a strategic cooperation signing ceremony in Nanjing, Jiangsu. Through this cooperation, BAIC and Magna will establish a joint venture company in Zhenjiang City, Jiangsu Province, to build a high-end intelligent pure electric vehicle R&D and manufacturing center open to the public, and plan to first launch the new high-end brand ARCFOX of BAIC. Model. It is reported that the newly established joint venture company will be the first automobile joint venture established under the background of the country's announcement of expanding the automobile industry's opening to the outside world and gradually eliminating the restrictions on the joint venture shares of auto companies. It will become a model for international cooperation in the new era automobile industry.
