Wuliangye Automobile Business

As early as 2003, Wuliangye Group tried to enter the automotive industry chain. At that time, "Push", a wholly-owned subsidiary that produced supporting molds for Wuliangye, began to produce automotive molds for Changan Automobile and a Japanese automaker. In 2006, Wuliangye Group acquired 50% of Xinchen Power's shares and entered the automotive engine field. Three years later, "Push" and Brilliance Jinbei established Brilliance Jinbei Mianyang Branch. However, in 2011, Wuliangye Group decided to temporarily withdraw from the automotive industry. Xinchen Power's shares were repurchased by Brilliance at a high price, and Wuliangye Group strategically withdrew its idea of ​​entering the automotive industry. It was not until 2015 that the new energy vehicle subsidy policy wave hit, and Wuliangye Group became active again. Three years later, Wuliangye "Push" joined hands with Yibin State-owned Assets to acquire 51% of the shares of Kaiyi Automobile under Chery Group for 2.5 billion yuan, and announced an investment of 3.7 billion yuan to build a factory in Yibin.