China's Longan Automobile and Yilin Group Sign Co-operation Agreement on Flight Vehicle Development

Beijing, December 21 -- Chinese automotive company Longan Automobile and Yilin Group have recently signed a co-operation agreement to pursue flight vehicle development. The partnership aims to establish a strong presence in the cutting-edge field of low-altitude economic industries, which is seen as crucial for China's future competitive edge.

Over the next five years, Longan Automobile plans to invest over 200 billion yuan in low altitude economic fields, driving the development of the flight vehicle industry at an unprecedented pace. By the end of the decade, the company aims to inject a staggering 1 trillion yuan into this sector, with a long-term vision of exploring integrated land-air-and-sea transportation and human-like robotic solutions.

This partnership offers promising prospects for China's low altitude economic industries, which are expected to expand significantly in the coming years. According to estimates from China's Civil Aviation Administration, the market size of low-altitude economies is anticipated to reach 150 billion yuan by 2025 and a substantial 350 billion yuan by 2035.

Through collaborative efforts, Longan Automobile and Yilin Group will leverage their respective strengths to develop holistic strategies in cutting-edge transportation technology. For Longan Automobile, this partnership serves as an opportunity to bolster its capabilities in high-tech innovation while reinforcing its long-term commitment to the development of sustainable automotive solutions.

Notably, the partnership sets a milestone for China's automotive industry by providing a solid foundation for Longan Automobile's strategic layout and technological advancements. The company will focus on forging cutting-edge research institutions and talent teams that foster an exceptional ecosystem of science, art, and technology in the field of mobility innovation.

The co-operation pact with Yilin Group demonstrates Strong Determination

Going beyond the partnership signing agreement, Longan Automobile plans to launch a comprehensive global research center project within two phases designed to promote collaborative development capabilities in a highly competitive market landscape. During this journey, an elite pool of nearly 3,000 professionals will emerge from these advanced programs.

The construction of state-of-the-art facilities like world-standard lab centers and cutting-edge design innovation halls underscores Longan Automobile's relentless pursuit of cutting-edge expertise. The new research projects' emphasis on forward-thinking fields in artificial intelligence, cybersecurity, information systems engineering is designed to ensure sustained success as it strives toward achieving a leading edge.

The global high-end project has set sights on providing the platform that will ultimately support China's automotive industry by forging an ecosystem where technology innovation, innovative design and artistry, R&D capabilities complement other emerging trends in urbanization.