FAW Group Corporation (FAW) signed a strategic cooperation agreement with JD.com, one of China’s e-commerce giants, in Beijing on June 28.
According to the agreement, FAW and JD will carry out cooperation in smart procurement service, intelligent logistics, marketing, mobility, intelligent Internet of Things (IoT), public welfare programs, financial service, and auto aftermarket, in a bid to jointly explore an all-chain digital business model of automobile industry from production to marketing.
FAW aims to realize a unified digital purchasing management based on intelligent procurement technologies, and provide preferential policy for JD employees to buy FAW’s vehicles, according to the agreement.
Under the partnership, the two sides intend to develop an ecosystem including mobility, shopping, accommodation, and traveling. Moreover, they wish to foster new growth areas through technological innovation and innovation in new business models, to come up with new ideas for auto brands’ digitalized upgrade.
FAW is a leading global manufacturer of quality passenger cars, trucks, and buses. Established in 1953, the company is China’s oldest and largest automotive group. Annual sales exceed three million units.