Shanghai (ZXZC)- FAW Group, China South Industries Group Corporation and Dongfeng Motor Corporation signed an agreement of intent in Beijing on December 21 to build T3 technology platform joint venture, according to an announcement released on FAW Group’s official WeChat account.

The yet-to-be-built joint venture is designed to research and develop the cutting-edge generic core technologies and platform of new energy intelligent vehicle industry and provide relevant supporting services. As three investors plan, the T3 technology platform company, aiming to “become a pioneer of future forward-looking vehicle technologies to create a car ecosystem which is more environmentally friendly, safer and better”, will be dedicated to developing the next-generation vehicle core systems, modules and platforms with new energy and intelligent connectivity as its focuses in order to realize a new round of upgrade and transcendence over vehicle technologies and promote the forming of core competency for next-generation vehicles.

On December 1, FAW Group, Dongfeng Motor Corporation and Changan Automobile, whose parent company is a subsidiary of China South Industries Group Corporation, signed a strategic cooperation framework agreement in Wuhan, capital of Hubei Province. Three companies decided to cooperate in the innovation of cutting-edge generic technologies, the whole value chain of the automobile industry as well as the strategy for deploying global businesses and exploring new business modes. The T3 technology platform joint venture agreed recently should be counted as part of achievements for three stated-owned automakers' collaboration.