Beiqi confirms cooperation with Zhongtai to start cooperation

Beiqi, which had been on hold for a while, negotiated with Zotye and began to restart. On Monday, the reporter learned from BAIC that the company is in the process of negotiating cooperation with Zotye Automobile, but it is not an M&A. The current cooperation between the two parties is still in the stage of vehicle cooperation. “But what will be further developed in the future and it cannot be disclosed yet.” .

As early as May last year, the industry reported that Beiqi wanted to acquire Zhongtai Automobile. In August of last year, Beijing Auto's press conference for the acquisition of Guangzhou Baolong Automobile Co., Ltd. revealed that Beijing Auto's senior officials had plans for the five major bases in China. The layout of the base must be completed through mergers and acquisitions. In 2010, it was the year of merger and acquisition of BAIC. It successively acquired Chongqing Yinxiang and laid out the west. Two and a half months later, BAIC also paid a large sum of money to acquire Guangzhou Baolong Automobile. At this time, Beiqi Zhuzhou Base is in full swing. In addition, Beiqi is located in the base camp of Beijing. The four major bases of Beiqi have taken shape. There is still a blank in East China.

At the end of last year, when Beiqi's high-end base was put into operation, Zhang Xin, the former executive vice president of Beiqi Co., Ltd., said that BAIC would build a base in East China and prepare to build a small automobile company in Zhejiang or Shanghai. It is reported that when BAIC was in contact with Zhongtai, it had signed a letter of intent for cooperation.

According to sources, Beiqi wanted to directly acquire or control Zhongtai, but Zhongtai did not agree. The letter of intent signed by both parties last year also does not involve mergers and acquisitions. It is a collaboration on models. Even so, BAIC is still fighting for the acquisition of Zhongtai. Zhongtai has never given an opportunity, and the two sides have been in a stalemate for some time.

The reporter recently learned from people familiar with the situation that the cooperation between BAIC and Zotye has been paused for a period of time. “But the lover always comes and goes, and it can be better at any time.” On Monday, the reporter obtained confirmation from the relevant high-level branches of Beijing Automotive Industry Group that Beijing Automotive and Zhongtai have already begun negotiations. The form of cooperation continued the content of the letter of intent previously signed. It does not involve mergers and acquisitions. It started with the cooperation of models. At present, the cooperation negotiation between the parties has reached the final stage.

As to whether Beiqi's East China Base project will use public-technique builds, Beiqi insiders said that it is currently the cooperation of the models and it will not be known in the future. This time, Zhongtai Group negotiated with Zhongtai Group, and according to an insider of the appeal, after the formal cooperation agreement was signed, this part of the assets will be allocated to Beiqi.