[ET Net News Agency, 15 March 2021] China Evergrande New Energy Vehicle Group Limited
(00708) said the company has entered into an agreement with Beijing Tinnove Technology
Co., Ltd., a company under Tencent Holdings Limited, pursuant to which the parties agreed
to establish a joint venture with a 60%: 40% capital contribution to jointly develop
industry-leading smart vehicle operating system with proprietary intellectual property
rights.
Both parties are expected to give a full play of their respective capabilities in new
energy vehicle research and development, manufacturing, artificial intelligence, big data,
cloud computation, commuting and other fields, together aiming to create a world-leading
smart vehicle ecosystem. (RC)