Auto Space founder and CEO Cao Fangning (left) signs a cooperation agreement with Cheng Li (right), founder and CEO of cheyun.com, a news portal about auto technology, at Jiading district in Shanghai. [Photo/cheyun.com]

Auto Space, a Shanghai-based incubator?that provides a range of services for automobile startups, has struck a deal with Beijing-based auto technology news website cheyun.com.

Auto Space is located in the Shanghai International?Automobile City of Jiading and it believes cheyun.com can use its wide readership to promote fledgling startups and encourage investment in targeted areas.

Auto Space is China's first auto innovation platform and offers a range of startups services such as office space, consulting, fundraising, marketing, HR, and industry research. Cheyun.com is China's first news service focused solely on auto technologies.

Cao Fangning, founder and CEO of Auto Space, said cheyun.com will prove a powerful tool capable of helping startup companies to take the right developmental steps and achieve their potential.

Cheng Li, founder and CEO of cheyun.com, believes this deal will aid startups with vital fundraising and marketing capabilities.

Several partners of Auto Space are optimistic about the effects of this recently-struck deal. Gao Lu, executive director of global business consultancy at the firm Roland Berger, believes this partnership will prove pivotal in helping to introduce advanced international technologies, add experience, and inject capital into China. Over time, Gao feels these factors will help China develop into a worldwide innovator in the auto industry.

Rong Wenwei, general manager of the Shanghai International Automobile City, feels the move will not only boost the local auto sector, but also help the auto city to exert greater national influence.

By all accounts the two companies are set to enjoy a rich and mutually beneficial partnership.