Mexican Media Brands
Chinese Appliance Company Jumps into EVs
Gree Electric Appliances Inc. is the latest Chinese company to enter the fast-growing electric vehicle market there.
#hybrid
Share
Gree Electric Appliances Inc. is the latest Chinese company to enter the fast-growing electric vehicle market there.
Gree, China’s largest supplier of air conditioners, is spending 13 billion yuan ($2 billion) to Zhuhai Yinlong New Energy Co., pending government approvals, Bloomberg News reports. The deal was announced in March.
Yinlong has been making lithium-ion EV batteries for seven years and markets a range of electric sedans, minivans and large buses in China. Bloomberg says Gree, which generates 86% of its revenue from air conditioners, reported revenue of 100 billion yuan ($15 billion) and net income of 6.4 billion yuan ($962 million) last year.
RELATED CONTENT
-
Chevy Develops eCOPO Camaro: The Fast and the Electric
The notion that electric vehicles were the sort of thing that well-meaning professors who wear tweed jackets with elbow patches drove in order to help save the environment was pretty much annihilated when Tesla added the Ludicrous+ mode to the Model S which propelled the vehicle from 0 to 60 mph in less than 3 seconds.
-
Aluminum Sheet for EV Battery Enclosure
As the number of electric vehicles (EVs) is about to increase almost exponentially, aluminum supplier Novelis is preparing to provide customers with protective solutions
-
Tesla Owners in Germany Ordered to Return Subsidy
Germany has ordered about 800 Tesla Model S electric cars owners to pay back a €4,000 ($4,700) government subsidy they received.