Guangzhou Automobile Group Co.Ltd(601238) Zeng Qinghong: not only does ai’an want an IPO, but Ruqi travel also plans to start listing next year

At the media communication meeting of Guangzhou Automobile Group Co.Ltd(601238) annual report held on March 31, the IPO plan of GAC new energy brand ai’an became the focus of attention Zeng Qinghong, chairman of Guangzhou Automobile Group Co.Ltd(601238) said that in addition to GAC AEAN, Guangzhou Automobile Group Co.Ltd(601238) involved in investment and incubation, Ruqi travel and Juwan technology research are also promoting capitalized operation, and revealed that China’s leading automatic driving technology company Wenyuan Zhixing has invested US $15 million in Ruqi travel.

“In the whole direction of reform, we hope to build a more market-oriented, more scientific and more open GAC. We will launch one when it is mature.” Zeng Qinghong said that more projects in Guangzhou Automobile Group Co.Ltd(601238) will be planned to carry out market-oriented capital operation and promote employee stock ownership. The purpose is to make Guangzhou Automobile Group Co.Ltd(601238) have a more flexible mechanism and market-oriented. Through market-oriented operation, more capital will enter and attract talents.

It is understood that Ruqi travel is a mobile travel brand under Guangzhou Automobile Group Co.Ltd(601238) which is jointly invested by Guangzhou Automobile Group Co.Ltd(601238) and Tencent. It was launched in Guangzhou on June 26, 2019, focusing on providing services in Dawan District of Guangdong, Hong Kong and Macao. The penetration rate of travel users in the core cities of Dawan district has exceeded 30%. Zeng Qinghong revealed at the annual report meeting that according to the plan of Guangzhou Automobile Group Co.Ltd(601238) , as a “shared” mobile travel platform of Guangzhou Automobile Group Co.Ltd(601238) , Ruqi travel will not only be an online car Hailing function in the future, but also carry out innovation and transformation in the direction of science and technology and be deeply connected with automatic driving technology. “To realize the commercialization of automatic driving, there must be an operation platform.” He said that Ruqi travel should be built into a technology operation platform to realize the robotaxi (autonomous taxi) scene.

It is reported that on December 21, 2021, Guangzhou Automobile Group Co.Ltd(601238) , Wenyuan Zhixing and Ruqi travel signed a strategic cooperation and investment agreement and announced the conclusion of strategic cooperation. The three parties will carry out in-depth cooperation based on their respective advantages and jointly promote the design, R & D, mass production and commercial operation of robotaxi front loaded models.

According to the strategic cooperation agreement, based on Guangzhou Automobile Group Co.Ltd(601238) top-level vehicle R & D and fully redundant vehicle platform that can be used for full driverless, the three parties will connect wenyuanzhixing L4 automatic driving technology and Beijing Vastdata Technology Co.Ltd(603138) of Ruqi travel platform, jointly promote the iteration of automatic driving technology and vehicle R & D and manufacturing, create robotaxi products with full driverless ability, and realize the large-scale operation of robotaxi. The three parties plan to launch robotaxi operation on Ruqi travel platform in 2022, gradually establish a robotaxi fleet and realize commercial operation in the next few years, and provide automatic driving travel services to the whole country with Guangdong, Hong Kong and Macao Dawan district as the core.

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