Mexican Media Brands
Geely Teams with Kandi on EVs for China
Zhejiang Geely Holdings Group has formed a 50:50 joint venture with Chinese electric vehicle maker Kandi Technologies Inc. to develop, produce and sell EVs and parts.
#hybrid
Share
Zhejiang Geely Holdings Group has formed a 50:50 joint venture with Chinese electric vehicle maker Kandi Technologies Inc. to develop, produce and sell EVs and parts.
Subsidiaries of the two companies will run the venture: Geely's Shanghai Maple Guorun Automobile and Zhejiang Kandi Vehicles. Each partner will contribute 500 million yuan ($80 million) and its own EV technology to the venture.
The new business will focus on providing vehicles and services for "green" public transportation in Chinese cities, according to Kandi.
RELATED CONTENT
-
Study: Nearly 60% of EV Sales in 2035 Will Be in China
Global demand for electric vehicles will multiply by a factor of 15 to 11.3 million units by 2035, with the Chinese market generating 57% of the total, according to the Fuji-Keizai Group.
-
Electric Trucks Emerging
Rudolph Diesel—who, incidentally, died mysteriously while traveling by a post office steamer on the English Channel in 1913—must be rolling in his grave.
-
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.