car industry

We guess lots of you wouldn’t bear in mind the model 360. However a couple of years in the past, this much less common Chinese language model was making excellent merchandise. In fact, we’re not speaking about flagship handsets. However the smartphones coming our method from 360 Cellular had been offering fairly acceptable look and efficiency if taking into account their costs. Nonetheless, due to recognized causes, many manufacturers like this withdraw from the market. 360 Cellular was amongst them. Final 12 months, we noticed a couple of sensible house home equipment launched beneath this model. However all the things modifications quickly. Immediately, the producer formally introduced its entrance into the automobile trade.

New Participant In Automotive Trade

Earlier as we speak, the model 360 issued an announcement on the overseas funding name. In it, the corporate mentioned that they’re formally getting into the automobile trade.

360 has beforehand disclosed that it intends to put money into Hezhong New Power Vehicle Co., Ltd. The funding will exceed RMB 2.9 billion ($0.45 billion). It has now fulfilled the procedures required by related authorities authorities. So the related agreements for this funding have been accomplished. The deal is over.

In different phrases, 360 has confirmed that it’ll spend 2.9 billion yuan to purchase a stake in Nezha Vehicle. Earlier, we heard that the 360 model ​​will not directly maintain 16.5940% of Nezha Vehicle. Thus, it could turn into the second-largest shareholder of Nezha Vehicle.

360 ​​has beforehand said that the corporate’s strategic funding in Nezha Motors intends to make use of clever networked automobile security because the cornerstone. Additionally, its accumulation and expertise within the fields of community safety, clever {hardware} safety, and Web of Autos safety will empower Nezha Motors. Counting on the follow-up in-depth strategic cooperation between the 2 events, the corporate will additional examine the security of clever networked automobiles. The aim is to higher present clever networked car security providers for your complete trade and trade chain companions.

Official Assertion

The board of administrators and all administrators of the corporate assure that there are not any false information, deceptive statements, or main omissions within the content material of this announcement, and bear particular person and joint accountability for the authenticity, accuracy, and completeness of the content material.

360 Safety Know-how Co., Ltd. (hereinafter known as the “Firm”) disclosed the “Announcement on Overseas Funding of 360 Safety Know-how Co., Ltd.” (Announcement No. 2021-063) on October 19, 202l. The corporate plans to put money into Hezhong New Power Vehicle Co., Ltd. (hereinafter known as the “funding”) with its personal funds totaling RMB 2.9 billion. On October 20, 2021, the corporate disclosed the “Supplementary Announcement on Outward Funding of 360 Safety Know-how Co., Ltd.” (Announcement No. 2021-064), stating that the funding issues have to receive the consent of related departments.

As of the disclosure date of this announcement, this funding has accomplished the procedures required by related authorities authorities, and the related agreements for this funding have been signed. The corporate will proceed to carry out its info disclosure obligations in a well timed method for the following essential developments of this funding occasion, and traders are kindly requested to concentrate to dangers.

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