GAC Capital intends to build fund for intelligent connected new energy vehicle industry development through partnerships
Shanghai (ZXZC)- On September 19, at the signing ceremony for a slew of cooperation sub-funds and industrial investment projects, GAC Capital announced its intention to explore the establishment of the Guangzhou Intelligent Connected New Energy Vehicle Industry Development Fund in collaboration with the Guangzhou Industrial Investment FoF (Fund of Funds) and Bank of China Asset Management. This visionary fund is set to have a total capital pool of 30 billion yuan, with an initial investment of 10 billion yuan.
2023 Guangzhou Industrial FoF Conference; photo credit: GAC Capital
The fund's investment focus will be centered on three pivotal areas: energy ecosystem, intelligent connectivity, and automotive semiconductor technology, according to GAC Capital.
To be specific, in the energy ecosystem domain, the fund will channel its investments towards key enterprises along the vertical integration of GAC Group's new energy vehicle industry chain, encompassing lithium mining, lithium battery raw materials production, energy storage and power battery manufacturing, electric vehicle charging and battery swapping infrastructure, and energy storage solutions.
For intelligent connectivity, the fund aims to extend, complement, and strengthen the automotive industry chain for intelligent connected new energy vehicles in Guangzhou, in addition to facilitating the large-scale commercialization of autonomous driving and the cost-effective mass production of intelligent functionalities.
Finally, in the automotive semiconductor technology sector, the fund will work to establish a more comprehensive industrial ecosystem by aligning semiconductor manufacturers with GAC Group's semiconductor requirements.
GAC Capital, as the capital operation, equity investment, and financing platform under GAC Group, is committed to integrating investments with industrial development, with its layouts extended to cover power battery, intelligent connectivity, and automotive chip realms. It has invested in over 94 renowned "hard-tech" and "unicorns" companies.