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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.
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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.
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