GAC announced yesterday that the group will invest 3.85 billion yuan to build its own e-commerce platform. The platform requires an initial investment of total 1.4 billion yuan, which will be officially launched in September.

The board of GAC’s directors has approved the implementation of building aN Automotive Internet Ecosystem project, which consists of whole vehicle e-commerce platform, vehicle maintenance platform, Internet of vehicles platform and business investment and financing platform four platforms.

Launched by the GAC and some investment companies, the project requires a first phase investment of 1.4 billion yuan, registered capital of 200 million yuan for the first time, all the project funding jointly funded by the GAC and investment companies.

Automotive Internet Ecosystem project of GAC will cover an array of vehicle related business including vehicle sales, service, auto finance, insurance, exchange, leasing a used car. In addition to consumer oriented, the project is also open to the entire automobile manufacturers, distributors and service providers, extend to areas of research and development and manufacturing.

Electric automobile group platform construction by automakers is still at the stage of testing. Dongfeng Nissan launched in August this year an auto electric platform of beta version named “Che Baba "(literally car bar bar). And the only electric platform in operation is “Che Xiang.com” lauched by SAIC, which had a registered capital of 200 million yuan.

Source:Gasgoo