According to the report, a person familiar with the matter disclosed to him that BAIC is negotiating with Canada's component giant Magna to discuss the possibility of establishing a joint venture or parts procurement. However, neither company confirmed the matter. BAIC Group has had an early relationship with Magna. The most recent one was at the Frankfurt Motor Show last year. Hainachuan under the BAIC Group signed a strategic agreement with Magna. Hainachuan signed a memorandum of cooperation with the Magna Locking Division to establish a joint venture for the door module. The joint venture company will assemble and produce door module products that integrate door locks, swing windows and audio speakers, and will form an annual production capacity of 300,000 vehicles or more. Magna is one of the world's largest suppliers of automotive components with 328 manufacturing facilities worldwide. In recent years, BAIC Group has been active in the field of new energy. In January of this year, it was learned from BAIC Group's 2017 operating results and 2018 development strategy media communication meeting that the overall operating income was 470.034 billion yuan, up 15.8%, and total profit increased by 14.4%. The vehicle exports were 89,000 units, an increase of 27.5%. Although it is not performing well in the self-owned brand sector, it is remarkable in the field of new energy. At the media communication meeting, Xu Heyi, secretary of the Party Committee and Chairman of BAIC Group, said in a categorical manner that "the car companies do not have new energy and have no way to go." He stressed that not only Beiqi New Energy, but all the vehicle business segments of BAIC Group should “lay out new energyâ€, and BAIC Group should comprehensively “new energyâ€. In the past year, BAIC Group also disclosed the timetable for the suspension of fuel vehicles for the first time. The goal of BAIC is to “take the lead in stopping the sales of its own branded traditional fuel passenger vehicles in Beijing by 2020 and stop production and sales of its own branded traditional fuel passenger vehicles in China by 2025.†Beiqi New Energy, a subsidiary of BAIC Group, is also about to enter the A-share market. Since its establishment, Beiqi New Energy has undergone share reform and mixed reform. In 2016, we completed A round of RMB 3 billion financing and started Series B financing in 2017. The B round financing Beiqi New Energy listed price is 5.3 yuan, and the total market value is 28 billion. With the "backdoor" main board listed company S*ST striker, the speed of its listing is speeding up. Kadena public chain is the world's first and only Layered -1 PoW blockchain that can be segmented and extensible.
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