Xingmin Intelligent Transportation made a public announcement stating that it has entered into a strategic cooperation agreement with BAIC Group. The two entities are set to join forces in multiple areas, including the research and development of new - energy vehicle technologies as well as vehicle sales.

The scope of this cooperation is quite comprehensive. It encompasses the innovation and refinement of wheel products. Both parties will also work together on the joint development of intelligent connected vehicle technologies. Moreover, they will engage in platform co - construction and operation.

In addition, they aim to jointly foster the establishment of a “computing power + data + model” collaborative system. This system is designed to create a computing power foundation that can be allocated on - demand and is capable of elastic expansion.

Furthermore, over the next three years, Xingmin Intelligent Transportation has plans to acquire a minimum of 200 vehicles from brands under the BAIC Group umbrella, which include Xiangjie, Arcfox, Beijing Off - Road, Foton, among others.