300 billion fruit chain giant Luxun enters the new energy vehicle 10 billion investment and cooperation with Chery

More and more electronic manufacturers have entered the field of new energy, this time it is Luxun Precision, which is OEM for Apple, and on the evening of February 11, Luxun announced that it would spend 10.05 billion yuan to reach a cooperation with Chery.

According to the announcement of Luxshare Precision, on February 11, 2022, Lixun Precision, Chery Holding Group Co., Ltd., Chery Automobile Co., Ltd., and Chery New Energy jointly signed the Strategic Cooperation Framework Agreement in Wuhu to lay a strategic partnership for both parties.

The announcement also pointed out that on the basis of the "Agreement", Lixun Precision and Chery New Energy intend to jointly establish a joint venture company, specializing in the research and development and manufacturing of new energy vehicles, providing cutting-edge R&D design, mass production platform and sea exit for Lixun Precision's core auto parts business, and is committed to achieving the company's medium- and long-term goal of becoming a leading manufacturer of auto parts Tier 1.

According to the announcement, on the day of the signing of the Agreement, the company's controlling shareholder, Lixun Co., Ltd., and Qingdao Wudaokou New Energy Automobile Industry Fund Enterprise (Limited Partnership) signed the Equity Transfer Framework Agreement, which stipulated that Lixun Limited would purchase 19.88% of the equity of Chery Holdings, 7.87% of the equity of Chery Shares and 6.24% of the equity of Chery New Energy held by Qingdao Wudaokou for 10.054 billion yuan, and after the completion of the transaction, Lixun Limited would not have control over Chery Holdings, Chery Shares and Chery New Energy for 10.054 billion yuan.

Before the signing of the Equity Transfer Framework Agreement, Qingdao Wudaokou held 46.77% of the equity of Chery Holdings, which was the largest shareholder of Chery Holdings.

Luxun Precision Industry Co., Ltd. was established on May 24, 2004, successfully listed on the Shenzhen Stock Exchange on September 15, 2010, always adhere to the technology orientation as the core, set product development and application services as one, and gradually realize the leap from traditional manufacturing to intelligent manufacturing, the current market value of 230.3 billion yuan.

Luxun is one of the giants in Apple's foundry industry chain, and step by step into Apple's iPhone machine manufacturing, at the end of last year, the news said that Luxun Precision is building a manufacturing park with an area of 285,000 square meters in Kunshan, covering an area equivalent to 40 football fields, with a total investment of 11 billion yuan, starting to assemble millions of iPhones as soon as 2022, and planning to complete the first phase of the new park in mid-2022.