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Detroit envelopes printing Electric teams up with Dongfeng Motor for electric cars
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Detroit envelopes printing Electric teams up with Dongfeng Motor for electric cars
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Detroit Electric teams up with Dongfeng Motor for electric carsPublished: 21 Jun 2009 18:59:08 PST
- Top 5 News From ChinaKnowledge.comAIA to raise US$8 bln from Hong Kong IPOCIC may invest US$ 500 mln in Blackstone hedge fundShenergy begins construction of Shanghai gas-fired power plantHuawei eyes Australia’s national broadband network dealHK office building market rebounds: Swire Properties’ CEOJun. 22, 2009 (China Knowledge) – China’s third-largest auto maker, Dongfeng Motor Corp, and Netherlands-based Detroit Electric Holdings Ltd have reached a strategic agreement to jointly research, develop, market and sell pure electric vehicles in China, sources reported.
The two sides will develop electric cars based on Detroit Electric’s advanced electric drive technology. Dongfeng Motor will test the electric drive technology and use it in its electric vehicles, said Detroit Electric’s chairman and CEO, Albert Lam.
The deal may be similar to Detroit Electric’s agreement with Malaysian auto maker Proton Holdings Berhad, said Lam. However, he did not disclose any financial details or production timetable.
The two companies may also set up a joint venture (JV) to produce and distribute the electric drive system.
The cooperation with Dongfeng Motor is expected to help Detroit Electric to explore the market in China, the world’s largest automobile market.
The Chinese government has been pushing the development of clean vehicles. The country is expected to become one of the major growth markets for Detroit Electric over the next five years.
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