Big move! It has been revealed that StarMedia, a subsidiary of Meizu, and Polestar China will integrate and establish a joint venture company
StarMedia and Polestar China will establish a joint venture company
【PhoneAuto News】On May 24th, PhoneAuto noticed that according to 36Kr, they have learned from multiple independent sources that XPeng Motors China is preparing for a capital-level cooperation with Meizu’s X-Joint venture. The preliminary direction of the discussion is to establish a joint venture company to promote the integration of automotive and mobile phone ecosystems.
At the same time, business integration is also accompanied by personnel changes. Multiple independent sources told 36Kr that in the future, Shenziyu, the chairman and CEO of X-Joint venture, will take charge of XPeng Motors China and further integrate various resources within the system. Feng Dan, the general manager of XPeng Motors China, will continue to be responsible for the execution of various tasks. Currently, neither X-Joint venture nor XPeng Motors China have responded to this matter.
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In the second half of 2022, X-Joint venture strategically invested in Meizu Technology and acquired the vast majority of the latter’s shares. In March 2023, X-Joint venture group was officially established. The company was merged by X-Joint venture and Meizu Technology, with its headquarters established in Wuhan, Hubei Province. Shenziyu, the CEO of Yikatong Technology, served as the chairman and CEO of this new company.
At the time of its establishment, it was stated that X-Joint venture group will actively invest in the research and development of cutting-edge technology fields, focusing on the three curves of “mobile phones + XR + forward-looking technology,” and focusing on the full-chain innovation of consumer electronics, including intelligent smartphones, XR technology, self-developed operating systems, satellite communications, wearable smart terminals, smart homes, and trendy lifestyles.
And Polestar is a global high-performance electric vehicle brand jointly owned by Volvo Car Group and Zhejiang Geely Holding Group, headquartered in Gothenburg, Sweden. In April of this year, Meizu announced that they have reached a cooperation agreement with Polestar to provide Flyme Auto Core for their SUV, Polestar 4.
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