On Monday, Wanda Group, a Chinese multinational conglomerate headquartered in Beijing, established Wanda Automobile Technology Co., Ltd. with a registered capital of 100 million yuan ($15.65 million), according to business inquiry platform Tianyancha. From the business scope, Wanda Automobile includes new car sales, auto parts wholesale, and motor vehicle charging sales.
The inquiry platform also shows the new company’s shareholder information. Wanda Automobile is jointly owned by Dalian Wanda Group and Taiqing (Beijing) Technology Co., Ltd. Meanwhile, Zeng Maojun, the legal representative of Wanda Automobile, is a director of Zhuhai Wanda Commercial Management Group. According to Wanda Group’s official website, Zeng is also the president of Wanda Film Holding and Wanda Cultural Industries Group.
At the same time, the registered address of Wanda Automobile is located in Hengqin New Area, Zhuhai. Wang Jianlin, Chairman of Wanda Group, is known to have visited the location on March 29 this year. In addition, Gree Titanium New Energy Co., Ltd., which Wanda Group joined hands with Gree Electric Appliances chairwoman Dong Mingzhu, has its registered address in Zhuhai.
Wanda Group was founded in 1988 and has developed into a large-scale enterprise group focusing on the modern service industry. The company’s scope includes business management, cultural products and services, and investment.
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Before the establishment of Wanda Automobile, Wanda Group had been slowly making moves into the automobile industry. On August 20, Wang Jianlin visited state-owned carmaker FAW. The two companies then signed a strategic cooperation agreement which will carry out building an automobile service ecosystem and other fields.