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On September 17, Dongfeng Group Corporation revealed that it had inked an investment pact with Dongfeng Motor Co., Ltd., Xiangyang Holding, and Xianggao Investment. Together, they aim to establish a joint venture, endowed with a substantial registered capital of 8.47 billion yuan. This collaborative venture is poised to harness the combined resources of all stakeholders, with a primary focus on the innovation and marketing of intelligent off-road vehicles, thereby fostering the smart evolution of the automotive sector. Specifically, Dongfeng Group Corporation and Dongfeng Motor Co., Ltd. will contribute 3.55 billion yuan and 920 million yuan, respectively, through the transfer of intangible asset usage rights and physical assets. These contributions will constitute roughly 41.9% and 10.9% of the joint venture's registered capital.
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