Faraday Future Launches Limited Edition FF 91 2.0 For $309K

More

Kia EV9n to feature 800V ultra-fast charging and up to 541km of range

More

BMW i5 arrives with up to 601 hp and 582 km range

More

Skoda will offer six all-electric models by 2026

More

Truemag

  • Electric Car News
  • Electric Car Reviews
  • Plug-in Hybrids
  • Technology
  • Home
  • About Us
  • Privacy Policy
  • Advertise
  • Charging Map

Kandi Technologies, Geely Auto Team Up on Electric Vehicles

Kandi-EV
Zhejiang Kandi Vehicles, a wholly owned subsidiary of Chinese electric vehicle maker Kandi Technologies Group, announced cooperation with Shanghai Maple Guorun Automobile, a 99% owned subsidiary of Geely Automobile Holdings to establish a joint venture company, named Zhejiang Kandi Electric Vehicles Investment Co. to engage in the investment, research and development, production, marketing and sales of electric vehicles in China.

Pursuant to the terms of the framework agreement, the JV Company will be owned 50% by Shanghai Maple and 50% by Kandi Vehicles. The registered capital of the JV Company will be RMB1,000,000,000 ($160 million), and with 50% to be contributed by each party.

Upon the establishment of the JV Company, the JV Company will acquire certain assets from Kandi and Geely Auto in order for the JV Company to process the necessary properties, assets and technologies to conduct the EV business.

To enable the proposed enterprise to take place, both Kandi and Geely Auto will establish new wholly-owned subsidiaries and inject certain assets into these companies. The JV Company will then acquire all the equity interests in each of these companies.

The board of directors of the JV Company will consist of four directors, of which two will be nominated by Kandi Vehicles and two will be nominated by Shanghai Maple.

Geely Auto is one of the largest and most well-known automobile manufacturers in China. In August 2010, Geely Auto acquired Volvo Car Corporation from Ford Motor Company.

Feb 4, 2013Blagojce Krivevski
Wind Explorer EV Travels 3000 Miles for Less than $15Over 1.5M UK Drivers Will Have Fuel-Cell Electric Vehicles by 2030
You Might Also Like
 
Mitsubishi Plans 20% of its Production to be All-Electric and Plug-in Hybrid by 2020
 
KLD Energy’s Battery Solution Receives Official Regulatory Certification
Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

February 4, 2013 Electric Car Newselectric vehicles, Geely Auto, Kandi Technologies
Follow Us
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • rss
Recent News
First Mode and ABB sign order for battery systems to power electric mining haul trucks
June 5, 2023
BYD and Castrosua Launch the First Jointly-Manufactured Electric Bus
June 4, 2023
2023 Mitsubishi Outlander Plug-in Hybrid Named IIHS Top Safety Pick
June 3, 2023
GM and POSCO Future M to Expand EV Battery Supply Chain in North America with New Integrated CAM and Precursor Processing Complex
June 2, 2023
Fisker Ocean Volume Deliveries To Start on June 19
June 2, 2023
About
ElectricCarsReport.com ElectricCarsReport.com is a website dedicated to pure electric vehicles and the full range of consumer information and tools about electric cars, green technology energy, and the environment.
Latest News
First Mode and ABB sign order for battery systems to power electric mining haul trucks
June 5, 2023
BYD and Castrosua Launch the First Jointly-Manufactured Electric Bus
June 4, 2023
2023 Mitsubishi Outlander Plug-in Hybrid Named IIHS Top Safety Pick
June 3, 2023
Get in touch

Email: [email protected]

Get new stories by email:
Archives
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • rss
DMCA.com
© ElectricCarsReport.com | All Rights Reserved.