HBIS & CAERI Launching Comprehensive Strategic Cooperation and A Joint Venture of Automobile Steel R&D Center

May 23^rd, HBIS and China Automotive Engineering Research Institute Co.Ltd (CAERI) signed A Comprehensive Strategic Cooperation Framework Agreement in Chongqing and launched a joint venture of HBIS & CAERI Automobile Steel R&D Center. 

CAERI was incorporated in 1965, which was the original First Mechanical Industrial Ministry Chongqing Heavy Load Automobile Research Institute, and a subsidiary of China General Technology Group, a grade A research institute. CAERI owns China Motor Vehicle Quality Supervision & Inspection Center (Chongqing), National Gas Vehicle Engineering Technology Research Center, State Key Laboratory of Vehicle NVH and Safety Technology and National & Local Engineering Laboratory For Alternative Fuel Vehicles. It is an important organization of the country in automobile technological services and industrial manufacturing and owns the first class technology research capabilities, test facilities and that are well known in the industry.

HBIS and CAERI have been working closely for years and after this agreement, the parties will jointly launch an automobile steel R&D center, a new era of the cooperation. According this agreement, the parties will mobilize their capabilities in automobile and steel material industry and focus on light weight materials and pursue the R&D of high end automobile steel materials. The automobile component will be starting point of the joint venture. They will explore equity cooperation opportunities and pursue a merge along the industrial chain. The parties will also strengthen cooperation in the field of automobile test and exam and study the feasibility of a state automobile & component test center in northern China.