Geely Auto Group and Suzhou’s Xiangcheng District signed a strategic cooperation agreement on January 31 to launch the automobile manufacturer’s global smart driving R&D center in Suzhou High-speed Rail New Town (HSR).
According to the agreement, Geely will set up a joint venture with ECARX, a stand-alone technology and innovation company with a strategic investment from Geely Holding Group, with a registered capital of 300 million yuan.
It will provide products in the field of unmanned driving, such as smart driving systems and components, driverless taxi and systems, cloud platforms and data centers, through independent development or external cooperation.
Integrating technology research and development and commercialization, the R&D center will serve as the only arm for Geely’s unmanned driving ambition. Geely Auto Research Institute and ECARX will also set up a M&A fund of 1 billion yuan to expand into the smart driving industry chain.
