Quick Takeaways
- Seres Group cooperation agreement strengthens intelligent connected vehicles expansion in Chongqing.
- New company structure positions Seres as a non-controlling shareholder after asset optimization.
On February 8, Seres Group signed a cooperation agreement with the Shapingba District People’s Government of Chongqing Municipality to advance intelligent connected vehicles development in China. The Seres Group cooperation agreement marks a strategic step toward accelerating high-quality growth in the intelligent connected vehicles (ICVs) segment, aligning with broader smart mobility and China EV industry trends. The initiative also reinforces Chongqing’s position as a key hub in the evolving automotive landscape.
The agreement focuses on deepening collaboration between Seres Group and local authorities to enhance innovation capacity and industrial competitiveness in the ICV sector. As part of the Seres Group cooperation agreement, the company will inject its existing assets related to Landian Auto into a newly formed entity dedicated to intelligent connected vehicles.
This structure is designed to streamline operations and sharpen focus on next-generation vehicle technologies. By consolidating Landian Auto assets into the target company, Seres aims to accelerate product development cycles and strengthen its foothold in China’s fast-growing smart mobility development ecosystem.
The newly established company, whose name has yet to be announced, will feature a diversified ownership structure reflecting both public and private sector participation. The equity distribution is as follows:
Through this automotive asset restructuring, Seres Group will transition into a non-controlling shareholder once all investments are finalized. This governance model is intended to enhance operational flexibility while leveraging the expertise and capital support of a state-backed equity investment fund.
The Seres Group cooperation agreement therefore not only advances intelligent connected vehicles capabilities but also optimizes the company’s asset structure. By adopting a market-oriented investment framework, Seres is positioning itself to respond more efficiently to shifting dynamics in the Chongqing automotive industry and the broader ICV development China market.
As competition intensifies in intelligent connected vehicles, collaborative models that integrate government backing, diversified investors, and professional management teams are becoming increasingly critical. This latest move reflects Seres Group’s strategic recalibration toward sustainable growth, technological innovation, and long-term competitiveness within China’s smart mobility landscape.
Seres Group Cooperation Agreement Strengthens Intelligent Connected Vehicles Strategy
The agreement focuses on deepening collaboration between Seres Group and local authorities to enhance innovation capacity and industrial competitiveness in the ICV sector. As part of the Seres Group cooperation agreement, the company will inject its existing assets related to Landian Auto into a newly formed entity dedicated to intelligent connected vehicles.
This structure is designed to streamline operations and sharpen focus on next-generation vehicle technologies. By consolidating Landian Auto assets into the target company, Seres aims to accelerate product development cycles and strengthen its foothold in China’s fast-growing smart mobility development ecosystem.
Ownership Structure and Investment Framework
The newly established company, whose name has yet to be announced, will feature a diversified ownership structure reflecting both public and private sector participation. The equity distribution is as follows:
- 33.5% held by a state-backed market-oriented equity investment fund
- 32% owned by Seres Group and its subsidiaries
- 18.5% allocated to other investors
- 16% reserved for the management team
Strategic Asset Optimization and Governance Impact
Through this automotive asset restructuring, Seres Group will transition into a non-controlling shareholder once all investments are finalized. This governance model is intended to enhance operational flexibility while leveraging the expertise and capital support of a state-backed equity investment fund.
The Seres Group cooperation agreement therefore not only advances intelligent connected vehicles capabilities but also optimizes the company’s asset structure. By adopting a market-oriented investment framework, Seres is positioning itself to respond more efficiently to shifting dynamics in the Chongqing automotive industry and the broader ICV development China market.
As competition intensifies in intelligent connected vehicles, collaborative models that integrate government backing, diversified investors, and professional management teams are becoming increasingly critical. This latest move reflects Seres Group’s strategic recalibration toward sustainable growth, technological innovation, and long-term competitiveness within China’s smart mobility landscape.
Company Press Release
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