Recently, Great Wall Motors and its holding subsidiary (hereinafter referred to as the “GWM” signed a service agreement with Spotlight Automotive. According to the agreement, GWM will provide Spotlight Automotive with research and development, factory construction management, production process development, consulting and other services with a transaction amount of up to 4.5 billion yuan.
Specifically, from 2020 to 2023, GWM will provide R&D business to Spotlight Automotive with a total transaction value of RMB 2.651 billion. It will also purchase R&D business from Spotlight Automotive with a total transaction value of RMB 1.734 billion; from 2020 to 2027, GWM will provide Spotlight Automotive with factory construction management and production process development services, with a total transaction value of RMB 144 million. In addition, from 2020 to 2022, GWM will also provide consulting services to Spotlight Automotive, with a maximum transaction amount of RMB 50 million. It will sell parts and other products to Spotlight Automotive, and the transaction amount is determined according to the specific transaction contract.
In August 2018, GWM and BMW formally signed a joint venture and cooperation agreement to establish the JV – Spotlight Automotive. GWM plans to launch 12 new energy vehicles based on 5 platforms by 2025. In addition to the ORA and WEY, the joint venture MINI brand are also impressively listed.
It is reported that the first model produced by Spotlight Automobile may be an electric car based on the MINI ROCKETMAN concept car, and it will be officially launched in 2022. According to the plan, the model will only be produced in China and will be exported to the world for sale in the future.