(Yicai Global) Dec. 1 -- Three major Chinese auto makers are set to become partners.
Changan Automobile Co.[SHE:000625] announced yesterday that it had signed a framework agreement with FAW and Dongfeng Motor Corp.
Changan Auto, FAW and Dongfeng Motor will cooperate in four fields, including forward-looking and generic technology innovation, operation of full value chain of automobiles, clustered overseas development and new business models, per the announcement.
The cooperation, which aligns with the general trend of economic globalization and market integration, represents a new exploration in implementing the Plan for the Middle and Long-Term Development of Auto Industry the government issued, the announcement said.
The three companies are all major Chinese car makers. FAW and Dongfeng Motor already signed a similar strategic cooperative agreement at the start of this year.