China’s leading used car retailer, Uxin Limited announced a strategic partnership with Zhengzhou Airport Automobile Industry Co., Ltd. to establish Intelligent Remanufacturing Co., Ltd.
The joint venture agreement states that Uxin Industrial Investment Co., Ltd. , a wholly-owned subsidiary,will contribute RMB120.0 million and Zhengzhou Airport Industry will contribute RMB50.0 million, representing 70% and 30% of the Joint Venture’s total registered capital, respectively.
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This partnership between Uxin and Zhengzhou Airport Industry promotes the Henan automotive aftermarket industry and builds a leading used car brand in China.
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Mr. Kun Dai, Chairman and Chief Executive Officer of Uxin, commented, “Zhengzhou Airport’s strategic location, business-friendly environment, established automotive industry, and mature supply chain strongly support Uxin’s business growth. With ongoing local government support, Uxin can now focus resources on producing high-quality used cars in advanced factories. Additionally, Uxin aims to provide a top-tier retail service experience based on new retail concepts as well as improve large-scale vehicle operations using its digital capabilities. These efforts align with Uxin’s mission to transform and elevate China’s used car industry.”
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Uxin promote economic growth for everybody. To help communities, clients, employees, and individuals of all backgrounds attain their greatest potential, we strengthen economies, create more fair opportunities, and promote sustainability.
