On September 27, 2019, Sailun Group announced that its subsidiary, Saiya Tire Testing, would have a new investor, FAW (China First Automotive Works), for capital increase of 460 Million Yuan and Sailun Group would also increase 146 Million Yuan into Saiya Tire Testing. After the capital increase, the shareholding of Sailun Group on Saiya Tire Testing decreases to 42.5% from 100% while FAW has the shareholding of 57.5%.
Both Sailun Group and FAW agreed that, after capital increase and share expansion, Saiya would build and operate Huadong Intelligent Networked Automobile Testing Ground in Shandong Province Yellow River Delta Agricultural High-tech Industry Demonstration Zone.
The grand foundation stone laying ceremony for the project of Huadong (Dongying) Intelligent Networked Automobile Testing Ground was held in Dongying City on November 2, 2019.
This project is reported to cover an area of 9,100 Mu and is expected to start construction in the next year. The phase I of the project will be put into use at the beginning of 2023. The test facilities include intelligent networked testing area (including closed/semi-closed/open road testing area), comprehensive performance testing area, lab testing area, etc., which provides all-round R&D and testing service to automobile enterprises, tire enterprises and automotive parts enterprises. By relying on the international advanced design, construction and operation teams, this project is to build an intelligent testing platform of world-top level to provide services for the technical development and testing of artificial intelligence and intelligent transportation.
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