China Auto Research plans to build East China headquarters Base in Suzhou in 2 billion to Speed up the layout of New Energy Industry

On the evening of November 2, China Automobile Research (601965) announced that in order to further promote the high-quality development of new energy, intelligent network joint automobile, big data, robot, intelligent manufacturing and other industries in Suzhou High-tech Zone, China Automobile Research and Suzhou High-tech Zone signed an Investment Cooperation Agreement on November 1, 2021.

It is reported that the investment cooperation agreement plans to invest in the construction of a general technology group China Automotive Research East China headquarters base project in Suzhou High-tech Zone, covering an area of about 120 mu, the project construction period is tentatively scheduled for five years, and the project is expected to reach production in 2027. After reaching production, the annual revenue is expected to reach 500 million yuan. The overall construction of the project includes the following six aspects:

1. Build the R & D and testing capability of new energy vehicles and "three electricity", and build the new energy vehicle R & D and testing base of China Auto Research in East China; 2. Build a testing base for auto parts, build a testing and evaluation center for key core components of new energy and intelligent network-connected vehicles, a testing and evaluation center for new automotive materials, a military evaluation center for civil-military integration and innovation, and a racing equipment evaluation center for the field of racing. 3. Build inspection and testing capabilities around business plates such as electrical architecture, vehicle software, wireless communications and intelligent cockpit, and expand R & D and testing capabilities of application software, industrial software and chips; 4. Apply for the construction of big data supervision platform for new energy vehicles and charging facilities in Suzhou, and build an integrated service center for new energy vehicles based on industrial ecology and post-market service ecology based on the safety monitoring of the operation of new energy vehicles. Build a professional industrial Internet platform for the industrial testing industry, create a robot and digital transformation technology innovation center and robot and digital application service center; 6. Around the new energy and intelligent network connected vehicles, develop a new type of automobile annual inspection equipment, provide intelligent electric vehicles (in-use vehicles) testing and evaluation services and vehicle networking big data services.

China Auto Research said that East China, as the largest automobile industry cluster in China, is the key regional market of the company's core business, and the investment and construction of this project is a very important part of the company's national strategic layout and resource integration of automotive technical services. After the completion of the project, it will be able to comprehensively enhance the technical service capability of CARI in East China, build characteristic service capabilities for intelligence, networking, electrification and low carbon, and provide localized one-stop services for enterprises in East China. Carry out standard and specification formulation, industry common technology research and third-party testing and research services, To build a public service platform for the development of new energy vehicles, intelligent networking vehicles, big data, robots, intelligent manufacturing and other industries and the promotion of common technologies in East China.

Data show that China Auto Research's main business is automotive technical services and equipment manufacturing business, with revenue of 2.591 billion yuan in the first three quarters, an increase of 8.39 percent over the same period last year, and net profit of 496 million yuan, an increase of 45.58 percent over the same period last year.