Official establishment of Dongfeng Electric Drive System Co., Ltd
(News from Xiangyang by this website today): On the morning of November 18th, Dongfeng New Energy Business Branch gives a surprise to the public: the opening ceremony for the establishment of Dongfeng Electric Drive System Co., Ltd., held in XiangYang, Hubei. The establishment of this company is Dongfeng’s major measure for the deep implementation of innovation-drive strategy, the implementation of the concept of green development, and the implementation of the plans of Dongfeng New Energy Business Branch. It is as well as another important achievement of the promotion for “6+1” systematic integration and the acceleration of new business layout of Dongfeng Parts Group. It is a very important milestone for accelerating the implementation of Dongfeng Electric Drive System Company’s “1+1” strategy, for further expanding and strengthening of the independent new energy vehicle business, and for promoting the implementation of Dongfeng company’s strategy of “Leading Intelligent Driving Technology” and realizing the “Triple one” mid-term business plans.
Dongfeng Electric Drive System Co., Ltd. is a combination of the relevant resources of Dongfeng Auto Electronics Co., Ltd., Dongfeng Auto Electric Co., Ltd. and Dongfeng Electronic Technology Co., Ltd. Since the establishment of Dongfeng Electric Drive System Co., Ltd., it will further increase investment in research and development, establish an incentive mechanism, and accelerate the cultivation of innovative talents. On the basis of adhering to independent innovation, it will take international top-level companies as benchmarks to seek broader and deeper technical cooperation actively, and accelerate the introduction of core talents and the promotion of technological innovation capabilities. Furthermore, it will accelerate the integration of domestic and foreign advantageous resources, broaden product lines, and expand new markets. By 2022, as planning, the revenue of new energy business will be up to 2,000 million Yuan from 200 million Yuan in 2018, and grow up to be a leading domestic top-level integrating supplier of electric drive system and the main player of new energy business in Dongfeng Company, while keeping the traditional business growing steadily.