Beijing time on October 16, China's leading used car retail dealer Uxin Group (UXIN.US) announced that it has reached a strategic cooperation agreement with the Wuhan Economic and Technology Development Zone, and the two sides will jointly build the Uxin Auto Eco-Manufacturing Base, mainly constructing a used car remanufacturing factory and a one-stop warehouse shopping mall. The base investment will reach RMB600 million, and the first phase project is expected to be put into trial operation in the first quarter of 2025.

Uxin Group's cooperation with the Wuhan Economic and Technology Development Zone is an important strategic move. Earlier, Uxin Group had successively established used car warehouse-style stores in Xi'an and Hefei, and reached a strategic cooperation with Zhengzhou Airport Economic Zone to open up the Zhengzhou market. The combination of Uxin's offline warehouse-style factory stores and online nationwide purchase model has been highly recognized and supported by the government, industry funds and consumers.

Deputy Secretary of the Municipal Committee and Secretary of the Working Committee of the Wuhan Economic and Technology Development Zone Liu Ziqing said that at present, the Wuhan Economic and Technology Development Zone is accelerating the transformation and upgrading and innovative development, and breaking through the development of new energy and intelligent networked vehicles, new energy, new materials and other strategic emerging industries. The Uxin Group's auto eco-manufacturing base is of great significance to the gathering of innovation elements and the development of the auto aftermarket economy in the Wuhan Economic and Technology Development Zone. We hope that Uxin Group will fully play its advantages in the used car inspection system, information platform and full-chain sales, and further promote the development of the auto financial services, maintenance and other upstream and downstream industries. The Wuhan Economic and Technology Development Zone will further optimize the business environment and provide services and guarantees for enterprises, and fully support the project construction to achieve win-win results.

Uxin Group founder, chairman and CEO Dai Kun said that the Uxin Auto Eco-Manufacturing Base mainly includes a used car remanufacturing factory and a one-stop warehouse shopping mall. Uxin will integrate resources to produce high-quality used cars through advanced manufacturing factories; it will rely on Uxin's big data capabilities to improve the operating efficiency of a large number of vehicles, leading industry innovation; it will build a high-quality one-stop warehouse shopping mall to provide consumers with a leading new retail experience in the used car industry. The auto eco-manufacturing base will effectively promote the development of the aftermarket industry in Hubei and drive the transformation and upgrading of the used car industry in China.

The Uxin Auto Eco-Manufacturing Base is jointly built by Uxin Group and Wuhan Junshan Urban Asset Operation Co., Ltd. Wuhan Junshan Urban Asset Operation Co., Ltd. is a subsidiary of Wuhan Junshan New City Technology Investment Group Co., Ltd., which is a pioneer in urban operation services. The assets of Junshan New City Investment Group amount to RMB1.86 billion, and its net assets amount to nearly RMB6 billion. The Group focuses on industrial investment and has laid out projects such as carbon footprint certification, solid-state batteries, car chain and intelligent networking, helping the development of the auto industry's full-chain business.