Recent news from multiple media outlets indicate that Cornex New Energy plans to take over Hubei Xinghui New Energy Intelligent Automobile Co., Ltd. for automotive manufacturing.
Public information suggests that the entity likely to be used by Cornex New Energy for automobile production is Cornex (Wuhan) Automobile Co., Ltd. This company was established on December 26, 2024, is wholly-owned by Hengxin Automobile, with Dai Deming as its legal representative. It has a registered capital of Yuan 1 billion, and its national industry classification is listed as electric vehicle manufacturing.
It is understood that Cornex Automobile is currently recruiting for numerous related positions, including roles in project research and development, automotive procurement, styling development, electronic and electrical systems, vehicle architecture, chassis, intelligent driving, smart cockpit, and new energy vehicle strategic planning. This clearly indicates a strategic layout toward new energy vehicle manufacturing.
As early as June this year, rumors surfaced about Cornex New Energy entering the automotive sector, claiming its automotive business department had already reached a scale of hundreds of employees. Reports also suggested that its first model might target the AITO M5, with plans to launch a range-extended SUV. Long-term vehicle plans include both range-extended and pure EV models.
Edited by Cassie Li, lixiangying@mysteel.com
