Chongqing Saidou Technology Co., Ltd. ("Saidou Tech"), in which Seres Group Co.,Ltd. (ASX: 601127) is a shareholder, is set to unveil a new automotive brand on the evening of June 9th. This brand is the result of a deep collaboration between Saidou Tech and ByteDance's Volcanic Engine, aiming to explore the vast potential of AI-defined vehicles.
According to informed sources, Saidou Tech's new brand will gradually release information, starting with its logo, followed by its English and Chinese names.
Previous media reports indicated that Saidou Tech is working closely with ByteDance's Volcanic Engine, with its first model expected to launch within this year. The vehicle is likely to be a crossover between an SUV and a sedan, offering both pure electric and range-extended powertrains. The relevant models will primarily collaborate with Volcanic Engine on in-car interactive large models, while the intelligent driving solution may involve a partnership with Yuanrong Qixing.
Saidou Tech was formerly known as Chongqing Landian Technology Co., Ltd. ("Landian Tech"). As early as February of this year, Seres Group Co.,Ltd. announced it had signed a cooperation agreement with the Shapingba District government in Chongqing. The plan involved establishing a target company by contributing existing assets related to Landian Auto and introducing multiple investors. Seres Group Co.,Ltd. stated at the time that the cooperation to divest these assets aimed to optimize the company's asset structure and benefit its long-term development.
On May 25th, Seres Group Co.,Ltd. announced that Landian Tech had completed a capital increase and share expansion of 6.671 billion yuan. Chongqing state-owned capital, Contemporary Amperex Technology Co.,Ltd.'s (ASX: 300750) wholly-owned subsidiary Wending Investment, along with Yuexing Jiaxing, Bojun Technology, Xingyu Shares, and others jointly invested. Chongqing Shaci Zhiyuan New Energy Technology Partnership, controlled by the Chongqing Shapingba State-owned Assets Supervision and Administration Commission, invested 3.433 billion yuan, becoming the largest shareholder of Landian Tech. Seres Group Co.,Ltd. relinquished its pre-emptive right to subscribe to the new registered capital of Landian Tech, reducing its stake in Landian Tech to approximately 32.96% and removing it from the listed company's consolidated statements.
On May 29th, Chongqing Landian Technology Co., Ltd. was officially renamed Chongqing Saidou Technology Co., Ltd., with changes also recorded in its investors and registered capital. Following the name change, the company is no longer 100% controlled by Seres Auto (Hubei) Co., Ltd. Instead, Shaci Zhiyuan and others have become shareholders, marking a new development phase for the Landian Auto business restructuring and transformation project jointly promoted by Chongqing's Shapingba District and Seres Group Co.,Ltd..
According to information from the "Shapingba Release" WeChat public account, Saidou Tech will seize the strategic opportunity presented by the deep integration of the automotive industry and artificial intelligence. It will focus on the smart connected new energy passenger vehicle sector to build differentiated competitive advantages, helping to accelerate Shapingba District's development into a 100-billion-yuan new energy vehicle industry cluster.
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