Baolong and Ingeek officially signed a joint venture agreement in Shanghai on August 26th, marking the deep integration and cooperation between the two parties in the field of automotive technology. The two parties will integrate their advantages in manufacturing, hardware R&D, intelligent entry systems, ecological services, etc., and are committed to providing cutting-edge solutions of automotive intelligence and innovative future mobility technologies to automakers in China and around the world.

Mr. Johnson Wen, Vice President and CFO of Baolong, and Mr. Hao Li, CFO of Ingeek signed the strategic cooperation agreement on behalf of the two parties, which was witnessed by Mr. Charles Zhang, Chairman & President of Baolong, Mr. Miller Feng, Vice President of Baolong and CEO of BH SENS, Mr. Hui Zhang, Chairman of Ingeek, and Mr. Hongyin Shan, CEO of Ingeek.

The cooperation is a strategic decision made by both parties based on their insight into the trend of change in the automotive industry and the market demand. As a leading supplier of automotive components and intelligent solutions, Baolong provides high-quality intelligent and lightweight products to global carmakers with 27 years of experience. Focusing on automotive intelligent innovation, Ingeek provides strong technical support for intelligent transformation of vehicles with its capabilities in digital key technology, intelligent connection systems, and infrastructure of intelligent vehicles, enabling seamless integration and communication between vehicles and users, as well as within the broader driving ecosystem.

The two companies’ corporation will start with digital keys, to realize the synergy between hardware R&D and manufacturing, and explore more efficient and forward solutions for the intelligent manufacturing of automotive electronics.

Baolong will set up a JV with Jinghua Shangkun Corporation, a subsidiary of Ingeek to create a manufacturing platform for vehicle connection systems. The platform will integrate high efficiency, leanness, flexibility, and intelligence, and seek to achieve comprehensive upgrades in production efficiency, product quality, cost control, and supply chain management.

Mr. Charles Zhang, Chairman & President of Baolong said, “With its excellent intelligent entry technology, intelligent connection system solutions and forward-looking layout in intelligent vehicle infrastructure, Ingeek has fully demonstrated its profound strength and extraordinary innovation in the field of automotive intelligence. I believe this cooperation will inject new vitality and possibilities into the field of automotive intelligentization, and bring incredible riding experience to global automakers and users.”

Mr. Hongyin Shan, CEO of Ingeek said, “Baolong has demonstrated the excellence of Chinese auto parts suppliers and has impressive global footprints. We’re honored to cooperate with Baolong to jointly promote automotive intelligence globally.”