Shenyang Jinbei Automotive (600609.SH) plans to jointly establish a research and development center with German E-Works Mobility GmbH.

Shenyang Jinbei Automotive (600609.SH) announced that the company has signed a memorandum of understanding with E-Works Mobility GmbH to establish a research and development center. E-Works is a leading engineering and technology integrator in the field of electric light commercial vehicles in Germany, with core competencies including electric commercial vehicle design and engineering, software-defined vehicle integration, EU certification, and commercialization of electric light commercial vehicles in the German and European markets. Both parties are committed to jointly developing innovative and competitive electric commercial vehicles for the German market through cooperation, resource sharing, and expertise exchange, to enhance their respective market competitiveness and explore further areas of collaboration. Based on their respective strengths, the two parties plan to explore the development and cooperation of key links in the electric light commercial vehicle industry chain. By establishing research and development centers in China and Germany, and deepening cooperation in technical research and development, manufacturing capacity integration, and market resource sharing, they aim to enhance their core competitiveness. They aim to expand their presence in the EU electric light commercial vehicle market and strive to capture a 10% or higher market share in the European market for electric chassis cabins and electric box trucks by 2040, becoming an influential brand in the European electric light commercial vehicle market. This partnership will support both parties in achieving long-term strategic development in the field of new energy light commercial vehicles. This collaboration is beneficial for building a win-win model of "Chinese technical and manufacturing support, German market introduction and integration certification," efficiently combining "Chinese manufacturing heritage" and "deep European market integration," and jointly expanding market shares in relevant segments in Germany and Europe. Through the "dual research and development center" model, it will be possible to efficiently integrate resources with relatively limited initial investment, quickly respond to market opportunities in Europe, and jointly develop the vast potential of the European electric light commercial vehicle market. This collaboration will also establish a full value chain loop from joint definition, collaborative research and development, local certification to future localization production, surpassing the company's traditional product export model, breaking through technical, regulatory, and other barriers that may be encountered when entering the high-end market, and potentially creating a fast track to the European commercial vehicle market, nurturing new growth opportunities for the company.