BAIC (01958.HK) Announces the Opening of Its Second Overseas Research and Development Facility in Aachen, Germany

AACHEN, GERMANY / ACCESSWIRE / October 1, 2015 / BAIC (01958.HK) is
proud to announce the opening of its second overseas electric vehicle
R&D facility, the BAIC EV – Meta New Energy Vehicle Aachen R&D
Center, on September 18th 2015. This center, which complements our new
Silicon Valley facility, has been tasked with the development of powertrain components for our forthcoming electric vehicle offerings. By Bringing Together the World’s Advanced Technologies BAIC EV is extending the range for their own Electric Vehicles.

With extended range capability, BAIC EV will address consumer objections to electric vehicles.

Unlike the Silicon Valley R&D center,
which focuses on the development of electric vehicle structures,
batteries and infotainment systems, the Aachen R&D center will be
focused on overcoming the primary consumer objection to electric drivetrains, range. BAIC will be working with Meta Motoren und Energie-Technik in this regard, an Aachen-based drivetrain
development company that BAIC recently acquired a 45% stake in. Meta’s
contribution to this enterprise will center on the development of
range-extending combustion engines and the electronic control systems
needed for their useful integration.

Meta’s own unique
capabilities will play a crucial role in this process. As a specialist
in internal combustion development, Meta has the wherewithal to engage
in conceptual design, rapid prototyping, advanced modeling, analysis of
competitor product, sample manufacturing, testing, and the development
of integrating software control systems. This very impressive company
currently employs around 100 employees, with future local hiring likely
to scale up as the partnership with BAIC yields greater demands for
local technical talent.

“BAIC EV has taken a leading role in the
Chinese electric vehicle market and we have already developed models
that have proven popular among customers. In the future, charging
batteries with range- extending motors will provide the capacity for
longer overall vehicle range,” commented Mr. Xu Heyi, Chairman of both BAIC Group and BAIC EV.

Setting up shop at the “Birthplace of Vehicles” gives BAIC the chance to learn from established German technology companies.

As
a global center of automotive R&D and production Germany enjoys a
wealth of production technologies and one of the most impressive human
resources concentrations in the industry. Aachen, in particular, is a powerhouse of modern industrial research, with the highly regarded RWTH Aachen University located nearby. By
establishing our facility here BAIC hopes to gain unique advantages in
our global efforts, bringing the accumulated technology and awareness of
European market demands to bear on our upcoming projects.

The first half of this year has seen a 250% increase in alternative energy vehicle sales in China, pushing BAIC’s home market ahead of the United States as the largest alternative energy market in the world. According to, Xu Heyi, “it is a critical moment for the traditional automotive industry, we
are in a bottleneck period where alternative energy offerings are rising
in the marketplace. The cooperation between BAIC EV and Meta can be
seen as a tryout, combining the efforts of the leading alternative
energy companies and those of the traditional automotive industry. This
partnership also demonstrates the core element of China-Germany
strategic cooperation on alternative energy vehicles in the future.”

The three parts form a whole.

Xu Heyi
said, “BAIC EV will optimize the distribution of resources by
integrating the resources and talents of our three R&D centers, in
the US, Europe and China. We will form a platform linking the three
centers, our “three in one” strategy. All three will comprise a solid
foundation for BAIC EV to become the leading electric vehicle brand in
the world by 2020.”

These back-to-back moves to expand our
strategic reach demonstrate the great passion and commitment BAIC EV has
brought to bear on its goals. We have brought an open mind to the idea
that through global cooperation, we can achieve a win-win result, both
for our partner companies and for BAIC EV.

About BAIC BJEV

Beijing
Electric Vehicle Co., Ltd. (BAIC BJEV) is a new energy vehicle
development platform, initiated and held by BAIC Motor Corporation Ltd.,
a Fortune’s Global 500 company, along with with Beijing Industrial
Developing Investment Management Co., Ltd., Beijing State-owned Capital
Management Center, and Beijing Electronics Holding Co., Ltd. It is
currently the most competitive alternative energy automobile company in
terms of domestic and industrial, all-electric vehicle market share. At
present, BAIC BJEV has formed a nationwide industrial layout, and
collaborates with Atieva, Siemens, SK Group and other noted enterprises, greatly enhancing the technical strength and R&D capabilities.

About TTM

Talk
To Moon (TTM), is a marketing consulting agency specializing in the
Electric Automobile sector. With offices in Chicago, Los Angeles and
Barcelona, and collaborating with brands in Music, Fashion and
Entertainment, TTM brings unique trendsetting opportunities to the table.

Contact Information

Oliver de Navas
Talk To Moon – Consulting and Public Relations
Email: Oliver@talktomoon.com

Chao Sun
Spokesperson BJEV Beijing Electric Vehicle Marketing Co., Ltd.
Email: sunchao@bjev.com.cn

SOURCE: Beijing Electric Vehicle Co., Ltd. (BAIC BJEV)

ReleaseID: 432315