UXIN.US (UXIN.US) reached a strategic cooperation with the Wuhan Economic Development Zone to build a used car storage factory

Zhitong Finance App learned that on October 16, Beijing time, China's leading used car retailer Youxin Group (UXIN.US) issued an announcement announcing that it had reached a strategic cooperation agreement with the Wuhan Economic and Technological Development Zone. The two sides will jointly build a Uxin Auto Ecological Intelligent Manufacturing Industrial Base, mainly a used car remanufacturing plant and a one-stop storage hypermarket. The base investment will reach 600 million yuan. It is expected that the first phase of the project will be put into trial operation in the first quarter of 2025.

The cooperation between Youxin Group and the Wuhan Economic and Technological Development Zone is an important strategic initiative. Previously, Youxin Group had already established used car warehousing factory stores in Xi'an and Hefei, and reached a strategic cooperation with Zhengzhou Airport to explore the Zhengzhou market. Youxin's model, which combines offline warehousing factory stores with an online national purchase model, is highly recognized and strongly supported by the government, industrial funds, and consumers.

Liu Ziqing, member of the Standing Committee of the Municipal Committee and Secretary of the Wuhan Economic Development Zone Working Committee, said that currently, the Wuhan Economic Development Zone is speeding up transformation, upgrading, innovative development, and breakthrough development in strategic emerging industries such as new energy and intelligent connected vehicles, new energy, and new materials. The establishment of Youxin Group's automobile ecological intelligent manufacturing industry base is of great significance for the Wuhan Economic Development Zone to gather innovative elements and develop the automotive aftermarket economy. We hope that Youxin Group will give full play to its advantages in used car inspection systems, information platforms, and full-chain sales to further drive the upstream and downstream development of automobile financial services, maintenance and other industrial chains. The Wuhan Economic Development Zone will further optimize the business environment, guarantee services for enterprises, fully support project construction, and achieve a win-win situation.

Dai Kun, founder, chairman and CEO of Youxin Group, said that Youxin Auto's ecological intelligent manufacturing industry base mainly includes used car remanufacturing plants and one-stop warehousing stores. Youxin will integrate resources to produce high-quality used cars through advanced manufacturing plants; rely on Youxin's big data capabilities to improve the efficiency of large-scale vehicle operation and lead industry innovation; and build high-quality one-stop warehousing stores to provide consumers with an industry-leading new retail experience for used cars. The Automobile Ecological Wisdom Valley Intelligent Manufacturing Base will strongly promote the development of the post-automobile market industry in Hubei Province and promote the transformation and upgrading of China's used car industry.

The Youxin Auto Ecological Intelligent Manufacturing Industrial Base was jointly built by Youxin Group and Wuhan Junshan City Asset Management Co., Ltd. As a pioneer in urban operation services, Wuhan Junshan City Asset Management Co., Ltd. is a wholly-owned subsidiary of Wuhan Junshan Xincheng Technology Investment Group Co., Ltd. Junshan Xincheng Investment Group has assets of 18.6 billion yuan, net assets of nearly 6 billion yuan, and annual investment projects of nearly 10 billion yuan. The group focuses on industrial investment and lays out projects such as carbon footprint certification, solid state batteries, vehicle 100 chains, and intelligent connectivity to help the development of the entire automotive industry chain.