BEIJING, Nov. 17,
2022 /PRNewswire/ -- TuanChe Limited ("TuanChe" or
the "Company") (NASDAQ: TC), a leading integrated automotive
marketplace in China, has recently
signed a strategic cooperation agreement with IAT Automobile
Technology Co., Ltd. ("IAT") (Shenzhen Stock Exchange: 300825), one
of the first batch of China's
high-tech enterprises and a leading independent vehicle research
and development ("R&D") solution provider in China and Asia. IAT is specialized in vehicle R&D,
as well as development and
manufacture of core vehicle components, among others. This
strategic partnership will further bolster Tuanche's R&D and
manufacturing capabilities for new energy vehicles ("NEVs") and
accelerate its planned expansion into the NEV market.
According to the agreement, the two companies will collaborate
holistically in NEV-related fields, including customized vehicle
R&D, key component R&D and manufacturing, software
development, etc., to promote the adoption of IAT's technologies
and products by TuanChe's NEV projects to elevate the latter's
competitive advantage.
"We are most excited about our collaboration with IAT. It will
not only accelerate the development of our NEV models but also
bolster our overall presence in China's NEV market," Mr. Wei Wen,
TuanChe's Chairman and CEO, commented. "As the sector transitions
from being policy-driven to market-oriented, differentiated NEVs
will be the key to staying ahead of the competition. By harnessing
the combined competitive edge of IAT's industry-leading
comprehensive automotive R&D capabilities, especially their
expertise in NEV design and R&D, and the strengths of our
automotive team, in-depth customer insights and extensive network
coverage, this strategic partnership marks a significant milestone
in our journey to bringing high-quality NEVs to more customers and
capitalizing on the booming NEV market. We also look forward to
diversifying our cooperation with IAT to take our relationship to
the next level."
As the first listed independent vehicle R&D company in
China, IAT is the pioneer of
China's "turnkey" services for
vehicle design and engine/powertrain development among independent
automobile designers. Its R&D business covers the whole
industry chain, including planning, design and customization of
both ICE models and NEVs, as well as the development, manufacturing
and sales of core automotive components. Over 13 years of
experience in BEV R&D makes IAT a reliable brand-independent
engineering and manufacturing partner for OEMs. With its dual focus
on technology and talents, IAT owns over one thousand core
technologies and patents and is home to five R&D centers in
different countries and regions worldwide, as well as subsidiaries
in 13 provinces and municipalities across China. IAT is a national-level industrial
design center certified by China's
Ministry of Industry and Information Technology and a post-doctoral
research center station approved by China's Ministry of Human Resources and Social
Security.
About TuanChe
Founded in 2010, TuanChe Limited (NASDAQ: TC) is a leading
integrated automotive marketplace in China. TuanChe offers
services to connect automotive consumers with various industry
players such as automakers, dealers and other automotive service
providers. TuanChe provides automotive marketing and transaction
related services by integrating its online platforms with offline
sales events. Through its integrated marketing solutions, TuanChe
turns individual and isolated automobile purchase transactions into
large-scale collective purchase activities by creating an
interactive many-to-many environment. Furthermore, leveraging its
proprietary data analytics and advanced digital marketing system,
TuanChe's online marketing service platform helps industry
customers increase the efficiency and effectiveness of their
advertising placements.
For more information, please contact ir@tuanche.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements include,
without limitation, the Company's business plans and development
and business outlook, which can be identified by terminology such
as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to" or other similar expressions. Such statements are based
upon management's current expectations and current market and
operating conditions, and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control. Further information regarding these and other risks,
uncertainties or factors is included in the Company's filings with
the U.S. Securities and Exchange Commission. The Company does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under law.
For investor and media inquiries, please contact:
TuanChe Limited
Investor Relations
Tel: +86 (10) 6397-6232
Email: ir@tuanche.com
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Email: tuanche@tpg-ir.com
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SOURCE TuanChe Limited