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SourceCryptocountriesgameChangjiang Commercial Daily

Sales of Changan Automobile's own brands and joint ventures are "floating red" in an all-round way, and the company's cooperation with Huawei is also actively promoting.

On the evening of May 7th, Changan Automobile (000625)CryptocountriesgameAccording to the announcement, the company sold 21 percent of its cars in April.Cryptocountriesgame.01 million vehicles, an increase of 15.47 percent over the same period last year.CryptocountriesgameCar sales in the first four months reached 902200, up 14.24 percent from a year earlier.

Sales of Changan Automobile's own brand New Energy reached 51700 in April, up 129.74% from the same period last year, while cumulative sales in the first four months were 180500, up 68.63% from the same period last year.

As a result, Changan's own brand new energy vehicles accounted for about 20% of total sales in the previous April.

It is worth noting that Changan Automobile and Huawei signed a Memorandum of Investment Cooperation in Shenzhen in November 2023, and Changan Automobile will invest in the new company established by Huawei.

According to Changan Automobile, on January 16, Huawei has completed the registration of the target company, named Yingwang Intelligence. At present, the two sides are conducting further negotiations on the key terms of the transaction.

According to the latest project progress, the company expects to sign the final transaction document no later than August 31, 2024.

Independent brands account for 84% of sales.

Changan Automobile sales rose across the board after changing the dilemma of the decline in sales of joint venture car companies in 2023.

On the evening of May 7, Changan Automobile disclosed that its car sales in April reached 210100, up 15.47% from a year earlier, while car sales in the previous April reached 902200, up 14.24% from a year earlier.

Among them, Changan Ford sold 18600 cars in April, up 32.92 percent from the same month last year, and 74200 in the first April, up 26.2 percent from the same period last year.

Changan Mazda sold 6051 cars in April, up 51.96% from a year earlier, while sales in the first April reached 25300, up 41.75% from a year earlier.

In 2023, Changan car sales reached 2.5531 million, an increase of 8.82% over the same period last year. In terms of joint venture brands, Changan Ford sold 233100 vehicles, down 7.13% from the same period last year; and Changan Mazda sold 88700 vehicles, down 14.77% from the same period last year.

At present, the growth of Changan automobile sales is mainly due to the growth of its own brands.

Production and sales KuaiBao showed that in the first four months of the year, Changan Automobile sold 761500 independent brands, up 13.32 percent from the same period last year; 560400 autonomous passenger cars, up 10.26 percent from the same period last year; and 140600 independent brands overseas, up 82.78 percent from the same period last year.

Moreover, Changan Automobile's own brand New Energy sold 51700 vehicles in April, an increase of 129.74 percent over the same period last year, while sales in the first four months totaled 180500 vehicles, up 68.63 percent from the same period last year.

As a result, in the first April of 2024, Changan automobile independent brand sales accounted for about 84% of the total sales, independent brand new energy vehicles accounted for about 20% of the total sales.

It is worth mentioning that in April 2023, Changan Automobile issued its overseas strategy, the "sea to accept all rivers" plan, and clearly put forward the "four one" development goals, that is, by 2030, the investment in the overseas market of Changan Automobile will exceed 10 billion US dollars, the annual sales volume of overseas markets will exceed 1.2 million vehicles, and the number of overseas business employees will exceed 10000, making Changan Automobile into a world-class automobile brand.

Today, Changan Automobile is promoting the strategy of "New Automobile and New Ecology". It plans to invest 200 billion yuan by 2030, add more than 10, 000 new scientific and technological innovation teams, and achieve group sales of 5 million vehicles, of which 4 million are Changan brands, accounting for more than 60% of new energy sales. Overseas sales account for 30%, becoming the leader in the era of "smart new cars".

In-depth cooperation with Huawei

At a time when sales are rising, Changan Motor has also strengthened its deep cooperation with Huawei.

On November 25, 2023, Changan Automobile and Huawei signed a Memorandum of Investment Cooperation in Shenzhen. After negotiations, Huawei plans to set up a new company to focus on the research, production, sales and service of intelligent driving systems and incremental components of smart cars.

According to the memorandum, Huawei intends to integrate the core technologies and resources of its smart car solutions business into the new company, and Changan Automobile and related parties will intend to invest in the company and work with Huawei to support the company's future development. The cooperation between Changan Automobile and Huawei will enable its new energy brand products to continue to innovate and develop in the field of intelligence.

At that time, Changan Automobile said that the new company would operate independently based on the principle of marketization, adopt a market-oriented management system and salary incentive framework, and both sides promised to carry out long-term cooperation and strategic coordination with the target company. in principle, the components and solutions within the scope of business are provided by the new company to vehicle customers. In principle, Huawei does not engage in business that competes with the new company's business scope, while Changan Automobile promotes strategic coordination with the new company in an all-round way.

Yu Chengdong, managing director of Huawei and chairman of BU, said: "We have always believed that China needs to build an electric, intelligent and open platform with the participation of the automobile industry, an open platform with 'locomotives'. We will deepen cooperation with Changan, and at the same time, we will work together with more strategic partners to explore a new win-win model of opening up and jointly seize the opportunity of electrified and intelligent transformation in the automotive industry. "

On the evening of May 6th, Changan Automobile announced that Huawei had completed the registration of the target company, named Shenzhen look Intelligent Technology Co., Ltd. (hereinafter referred to as "lookout Intelligence"). Its business scope mainly includes automobile intelligent driving solution, automobile intelligent cockpit, smart car digital platform, smart car cloud, AR-HUD and intelligent car lights, etc., subject to the final transaction document.

At present, the work of this project is being actively promoted. As of the date of disclosure of this announcement, Changan Automobile has basically completed the financial, legal, business and technical due diligence involved in this project. At present, the two sides are conducting further negotiations on the key terms of the transaction.

Changan Automobile said that according to the latest project progress, the company expects to sign the final transaction document no later than August 31, 2024.

Industrial and commercial information shows that Insight has set up five wholly-owned subsidiaries, which are located in Hangzhou, Shanghai, Suzhou, Dongguan and Nanjing. In terms of equity, it is hoped that Smart will be wholly owned by Huawei.

According to the original vision, it is hoped that Intelligent will become a technology open platform for equity diversification, that is, Changan Automobile is only the first mainframe factory to cooperate, and more automobile companies may participate in the follow-up.

As of now, in addition to Changan Automobile, FAW Group and Dongfeng Group are also expected to invest in Yingwang Intelligent.