NextEV Signs Agreement With Nanjing Municipal Government For $463M Motor Production Facility
Originally published on EV Obsession.
A new strategic partnership calling for the development of a RMB 3 billion (~$463 million) production facility has been signed by NextEV and the Nanjing Municipal Government, according to recent reports.
The facility — to be located in the Nanjing Economic and Technological Development Zone — will be focused on the production of NextEV’s proprietary intellectual technologies (high-performance motors, electronic modules, etc) to begin with, reportedly.
Plans call for an initial annual production capacity output of around 280,000 units. Operations are currently expected to begin during the second half of 2016.
The Founder and Chairman of NextEV, William Li, commented:
“NextEV believes that electric vehicles’ core components and their related products will be the next battleground for the industry, and we have developed our own proprietary intellectual technologies, on par and exceeding international standards, like the drive system assembly through our emphasis and investments in Research and Development. Chinese enterprises need to cooperate to develop complementary synergies in win-win relationships in order for China’s electric automotive industry to be globally competitive. To this end, NextEV is willing to share our technologies, and build key components for other domestic electric vehicle manufacturers.”
Green Car Congress provides some related information:
In April, NextEV and JAC Motors signed a comprehensive strategic cooperation agreement worth up to ten billion RMB (US$1.5 billion) in the field of electric vehicles. NextEV and JAC Motors said they share joint technical expertise, supply chain, marketing, advanced manufacturing, and capital.
The JAC Motors Chairman Jin An commented on that: “Our two companies will build an automobile platform for the mobile internet era, promote the development of the electric automotive industry, and raise the level of China’s electric automotive industry.”
Reprinted with permission.
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