SAIC Motor Group announced that in order to strengthen the company's advanced smart driving technology research and development capabilities, the board of directors agreed that the company and its holding companies, Yandian Technology and Magic Gate Tower will jointly establish a joint venture with a registered capital of 300 million yuan; of these, the company has pledged 75 million yuan and holds 25% of the shares; Yanden Technology has pledged 72 million yuan and holds 24% of the shares; and Magic Gate Tower has pledged an investment of 153 million yuan and holds 51% of the shares.

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