On November 25, New Gonow Group and Geely Commercial Vehicle Group signed a strategic cooperation agreement. Mr. Miao Xuezhong, Chairman of New Gonow Group, Mr. Li Feng, Senior Vice President; Mr. Zhou Jianqun, Chairman of Geely Remote New Energy Commercial Vehicle Group, Mr. Duanmu Xiaolu, Vice President and CFO, Mr. Li Hongyan, Vice President of Commercial Vehicle Research Institute and Vice General Manager of Light Business Division, Mr. Li Zhefeng, Director of Investment Development and Executive Vice General Manager of Green Eco Development Division, and Mr. Hu Lifeng, Director of Legal Compliance attended the signing ceremony.

Founded in 2003, Zhejiang New Gonow Holding Group Co., Ltd. is one of the first practitioners of China's own brand cars. 2010, in cooperation with Guangzhou Auto, Guangzhou Auto Geo was established, opening up a pioneer of mixed ownership economy of state-owned enterprises and private enterprises. 2016, New Gonow was established to focus on market segments, dedicated to the expansion of saloon cars and new energy commercial vehicle industry, is the pioneer of the whole industry chain model of automotive market segments. Located in Shanghai Pudong New Area, the Group has three major segments: automobile manufacturing, operation and finance, with industry-leading R&D center and Internet operation center, and has built six manufacturing bases in Jiaxing, Zhejiang, Taizhou, Shangqiu, Hubei, Shiyan, Dalian, Liaoning and Melbourne, Australia. The Group continuously integrates global high-quality resources and has established strategic cooperation with famous brands and R&D institutions such as RWTH Aachen University, Hobby RV and Shanghai Jiaotong University; it has formed a strategic layout with foreign China-Europe-Australia linkage and domestic east-west-north-south center relying on each other. At present, the caravan segment has entered the industry's head enterprises, and the production and sales of the new energy segment steadily ranks among the top ten in the industry.

Zhejiang Geely Remote New Energy Commercial Vehicle Group was established in 2014, with products covering the whole range of commercial vehicle scenarios, and is committed to the corporate mission of "creating intelligent interconnection and leading green commercial vehicles". At present, the overall sales of remote new energy commercial vehicles rank first in the industry and continue to lead industry changes. Relying on the resource advantages of Geely Holding Group, Remote New Energy Commercial Vehicle has been researching and developing e-GAPF programmable technology for eight years, and is the first company in China to apply programmable technology to commercial vehicles. With the support of this technology, the new energy station wagon will have more outstanding performance advantages.

As the head enterprises in the commercial vehicle and RV industries, both Geely Commercial Vehicle Group and New Gonow Group have started the layout of the new energy commercial vehicle segment, and they are both optimistic about the huge development potential of the RV market and have a high degree of agreement on the future development plan. Both sides will cooperate deeply in the fields of technology integration, industry and capital docking based on the principle of "complementary advantages and common development".

This is also the second time for New Gonow Group to join hands with the leading brands in the industry after the signing with Times Xin'an and Leo Group on Nov. 21.