The entrance of Dongfeng Honda Automobile Co in the Wuhan Economic and Technological Development Zone [Photo/WeChat account: whkfq0518]
Dongfeng Motor Co, based in the Wuhan Economic and Technological Development Zone (WHDZ), recently signed cooperation agreements with Han Jiang Investment Holding and Beijing Realm Investment Co to establish an industrial foundation for new energy vehicles.
The foundation cost a total of 1.2 billiona yuan ($167.64 million) to set up, with Dongfeng and Han Jiang paying 594 million yuan each, and Realm paying 12 million yuan.
According to information released by Dongfeng, the foundation will mainly support new energy vehicle projects run by the company, particularly the sales department.
