Recently, Dongfeng Motor Group Co., Ltd., FAW Equity Investment (Tianjin) Co., Ltd., Wuhan Jingkai Investment Co., Ltd., and Three Gorges Technology Co., Ltd. jointly funded the establishment of Yidong New Energy Technology Co., Ltd. The registered capital of the company is 800 million yuan, and the above four companies each hold 25% of the shares, with a capital of 200 million yuan respectively.
The company's business scope covers battery sales; battery leasing; recycling and cascade utilization of waste power batteries for new energy vehicles (excluding hazardous waste operations); sales of new energy vehicle power exchange facilities.
It is understood that FAW, Dongfeng and Changan signed a strategic cooperation framework agreement in 2017. According to the agreement, the three parties will carry out all-round cooperation in four major areas, including forward-looking common technological innovation, operation of the whole value chain of automobiles, joint overseas "going out", and new business models. Among them, forward-looking common technological innovation includes the three parties around the new energy, intelligence, networking, lightweight and other fields, strategic core technology, platform joint investment, development, and sharing of technological achievements.