On October 10,the signing ceremony of the Shenyang Automotive Industry Investment Fund was held in Shenyang.

The Brilliance Auto Group signed an agreement with the Guangdong Technology Financial Group Co., Ltd. and the BMW (China) Investment Co., Ltd.,to establish the Shenyang Automotive Industry Investment Fund,with an initial scale of 800 million yuan.

The fund will focus on the electrification, intelligence and low-carbonization of the automotive industry chain, and prioritize investment in new energy, new materials, artificial intelligence and high-end manufacturing, etc. It aims to support the Brilliance Auto Group in expanding its industry and enhancing its value, and promote the optimization and upgrading of the automotive industry chain in Liaoning Province.

The fund, established with BMW's participation, is the first and only private equity investment fund in which BMW has invested in China. This fully demonstrates BMW's development concept of "in China, for China" and its firm confidence in the Chinese market. It also marks the further expansion of the cooperation areas between BMW, Brilliance Auto Group and Shenyang.

After the establishment of the fund, all parties will focus on the high-quality development goals of the automotive industry, jointly explore new opportunities for the development of China's new energy vehicle industry, achieve the deep integration of financial capital and industrial economy, and provide strong support for the transformation and upgrading of the automotive industry in Shenyang and even the whole country.