NEV industry chain investment fund established in Huangpu

Guangzhou Development Zone Investment Group, GAC Group, and Yuexiu Group jointly established an intelligent industrial investment fund in Huangpu on June 26, with a total fund of 1.5 billion yuan ($223 million).

The fund will focus on the fields of the new energy vehicle (NEV) industrial chain, hydrogen energy, energy storage, and new materials, as well as give full play to the industrial, technological, capital, as well as resource advantages of GAC Group, Yuexiu Group, and Guangzhou Development Zone Investment Group.

It aims to drive the accumulation of automobile industry resources in Huangpu, promote the high-quality integrated development of the automobile industry in the Guangdong-Hong Kong-Macao Greater Bay Area, as well as help Guangzhou improve the independent level of the intelligent and new energy vehicle industrial chain.

The automobile manufacturing industry is one of the three pillar industries in Huangpu district. To date, it is home to a group of manufacturers of complete vehicles and key parts, such as GAC Honda, Xiaopeng Motors, and Daoyuan Electronics.

In recent years, Guangzhou Development Zone Investment Group has deployed investment in the fields of smart manufacturing and advanced manufacturing, focusing on the layout of the NEV industrial chain ecosystem.

GAC Group is a key enterprise in Guangzhou's automobile industry, and Yuexiu Group has achieved remarkable results in financial empowerment. The cooperation between Guangzhou Development Zone Investment Group and two of the world's top 500 State-owned enterprises will boost Huangpu's automobile manufacturing industry in the aspects of industrial integration, capital operation, as well as carrier services.

A steel and aluminum flexible production line at GAC Group's factory. [Photo/WeChat account: guangzhougaoxinqu]

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