On August 20, Shenlong Automobile Technology (Wuhan) Co., Ltd. was formally established in the Wuhan Economic and Technological Development Zone. This new entity, a collaborative venture among Dongfeng Motor, Stellantis Group, Shenlong Automobile, along with Changjiang Industry Group, Wuhan Finance Holdings Group, and Economic Development Industrial Investment Group, boasts a registered capital of approximately 8.2 billion yuan. The inauguration ceremony signifies Shenlong Automobile's strategic transformation moving from the negotiation phase to tangible implementation, ushering in an innovative joint venture model that transcends conventional paradigms.

The most notable transformation in this partnership is the reconfiguration of the collaborative framework. Traditionally, in joint ventures, foreign entities supply technology and brands, while Chinese counterparts contribute markets and production capabilities. Under Shenlong Technology's framework, these roles are inverted: Dongfeng Motor will spearhead the R&D of core new energy and intelligent technologies, offering foundational technical support encompassing three-electric systems and intelligent cockpits; Stellantis Group will capitalize on its century-long brand legacy to impart classic design philosophies and global marketing networks. This synergy of 'Chinese new energy core technologies, European heritage brands, and global distribution channels' seeks to leverage mutual strengths.

In terms of product strategy, Shenlong Technology will concentrate on the new energy vehicle (NEV) sector. The company has initially outlined plans for four new NEV models, anticipated to roll out sequentially from 2027 onwards. These models will span both pure electric and plug-in hybrid technologies, catering to diverse needs such as off-road adventures, urban commuting, and family excursions. Significantly, alongside expediting the electrification transition of Dongfeng Peugeot and Dongfeng Citroën, global models from the Jeep brand under Stellantis Group will also be concurrently introduced, manufactured at Shenlong Automobile's Wuhan facility, and distributed internationally through Stellantis' global sales network.

Regarding capital and operational structure, the new company has, for the first time in China's automotive industry history, incorporated local industrial capital from provincial, municipal, and district levels. This diversified collaborative model, involving central enterprises, multinational conglomerates, and local industrial capital, aims to minimize operational costs through capital empowerment and regional industrial chain support. Concurrently, in terms of business segmentation, the newly established Shenlong Technology will function as a fresh operational entity responsible for investment, planning, and brand management; whereas the original Shenlong Automobile will transition to become one of the investors, primarily focusing on vehicle manufacturing to revitalize its existing mature production capabilities and manufacturing system.

The inception of Shenlong Technology marks a pivotal execution phase following Shenlong Automobile's unveiling of a three-year revitalization plan at the end of 2025. According to the prior plan, Shenlong Automobile is progressing its transformation by restructuring its marketing system and recruiting talent from NEV startups, with the goal of achieving sales of approximately 200,000 units by 2028. Amidst fierce competition in the domestic NEV sector, Shenlong Technology has opted for a differentiated approach of 'In China, For the Globe,' endeavoring to carve out new survival space in the competitive landscape of joint venture automaker transformations by revitalizing existing assets and integrating global resources.