GEM Group and GAC Group established a joint venture company Guangzhou Youmei

On April 10, GEM Group and GAC Group announced the establishment of a joint venture company, Guangzhou Youmei, which focuses on the research and application of power battery recycling technology. The company is located in Zhongluotan Town, Baiyun District, Guangzhou, with a planned total investment of 190 million yuan, aiming to integrate the superior resources of the two companies in the fields of battery recycling, resource utilization, and remanufacturing.