KUALA LUMPUR, Aug 21 -- Guotai Junan International Holdings Limited (Guotai Junan International, together with its subsidiaries as the Group or the GTJAI) will join hands with three other companies to boost innovation and development of New Energy Vehicle Battery.
Together with NIO Inc (NIO), Contemporary Amperex Technology Co Limited and Hubei Science Technology Investment Group Co Ltd, the project is proactively responding to the national policy of supporting the real economy by finance.
The companies will support Wuhan Weineng Battery Asset Co Ltd (Weineng), dedicating to jointly promoting the development of ‘Car-and-Battery Separation’ in the new energy vehicle industry and supporting Weineng to launch Battery as a Service (BaaS) products.
According to a statement, the GTJAI participation in this project is a solid implementation, encouraging national policies of supporting the real economy by finance and promoting the continuous and healthy development of the new energy vehicle industry.
The Group is expecting to provide more diversified products for its clients via active engagement in quality and rare projects, boost the development of corporate finance and wealth management business and synergy between business lines over mid-to-long-term.
In recent years, the Group has been actively reviewing its development strategy in which sound and stronger foundations were required for further breakthrough and development.
Despite the negative impact of COVID-19 pandemic on the global operating environment and economic growth in the first half of 2020, the Group has achieved substantial improvement in financial position and balance sheet.
-- BERNAMA
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