BAIC Blue Valley and Huawei to develop new SUV models, plans to raise 1.18 billion USB

Huawei and one of its newly-introduced partners BAIC Blue Valley are planning to develop some new projects and SUV models, together in the time ahead. Based on these projects, the BAIC firm declared to raise a fund of 1.18 billion USD for their upgrade and development.

To those who are unaware, BAIC Blue Valley is a firm that is involved in the field of pure electric vehicles. At the Shanghai Auto Show, this year, Blue BAIC Valley and Huawei jointly unveiled the ARCFOX Pola Fox Alpha S Huawei HI version.

This product was a smart electric car, equipped with 3 lidars. With its autonomous and driving full-stack solution and dynamic mechanism, the car has easily drawn the world’s attention to itself.

As of now, BAIC Blue Valley and Huawei are framing their mindset to give one more chance to their companionship by creating some new SUV products. According to the information, the invention of the hardware will require 8 billion yuan (1.18 billion USD) of funding in the following areas:

Skateboard platform development project for scenario-based products

This project will show the work over the lower body of each model. Thereafter, the company will match the structure of the upper body with various designs and will select one of them as per the performance. To compete with the technology trends, the separation of heavy and light materials will be the new strategy.

Here, the term heavy material reflects the lower body parts. For instance, suspension, steering, braking, battery pack, electric drive, thermal management, and other parts. While the light word defines the styling, body, interior, and exterior trims. Since the development is quite difficult, the investment is also high.

Vehicle product upgrade and development projects

This project relies upon the development of ARCFOX brand pure electric vehicles. Consequently, this will include the new sports car (N51AB), the flagship B-class pure electric intelligent SUV (N62HBT), and A-class crossover models. Further, the firm will upgrade the C-class pure electric intelligent car (N61HBT).

Accordingly, the company will revamp the whole development scenario for the above-mentioned gadgets. Yet, one thing that will remain common is the BAIC New energy, which is the main body of the project and is a completely owned subsidiary of the company.

R&D and core capacity-building projects

This specific part comprises the three projects. Alternatively, these are electric technology capability improvement projects, intelligent network connection technology capability improvement projects, and ARCFOX brand direct selling space marketing channel network construction projects.

These projects will impose new enhancements to the respective technologies. From building a better power battery system platform to an intelligent smart cockpit for service-oriented vehicles.

The company has more plans in the upcoming years. Expanding the core business to 10 more giant cities by 2024, achieving a cumulative operation of 50 stores, distributing the layout of the 4S model to gain double promotion of sales, and more. Consequently, these plans will step into the world by 2024.

(Via)