Collaboration: HASCO Joins Force for Solid-State Battery Project

SAIC Motor and HUAYU Automotive Systems Invest in Battery Technology

In a significant move towards advancing battery technology, SAIC Motor, a prominent automobile manufacturer, and its parts and supplier subsidiary, HUAYU Automotive Systems (HASCO), have made strategic investments in Shanghai SAIC QingTao Energy Technology Co., Ltd.

Established as a joint venture between SAIC Motor and QingTao Energy in November 2023, the company specializes in the development of semi-solid and solid-state batteries. Shanghai SAIC QingTao Energy Technology Co., Ltd. has a registered capital of approximately 140 million US dollars.

Prior to the transaction, SAIC Motor held a 49-percent stake in the company, with QingTao Energy holding a majority stake of 51 percent. In a recent development, HUAYU Automotive Systems (HASCO) has acquired a 49-percent stake for approximately 29 million US dollars. The transaction value was paid by HASCO to SAIC Motor.

With this acquisition, HASCO is now a direct shareholder in a company that focuses on the cutting-edge field of battery technology. The company's activities range from materials research to cell production and module manufacturing.

SAIC Motor's investment in Shanghai SAIC QingTao Energy Technology Co., Ltd. is noteworthy, as the semi-solid-state batteries developed by the company are currently used in SAIC Motor's production vehicles, including the new MG4.

The joint venture operates manufacturing sites in Wuhai, Chengdu, Yichun, Kunshan, and Taizhou, further solidifying SAIC Motor's commitment to innovative battery technology. Despite the change in shareholding, QingTao Energy continues to hold a majority stake in the company.

This strategic investment by SAIC Motor and HUAYU Automotive Systems (HASCO) is a testament to their focus on sustainable and advanced technology, positioning them at the forefront of the automotive industry.