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Dongfeng deal goes electric
By Winny Wang |
June 19, 2009, Friday
|
Online Edition
Online Edition
THE Dongfeng Motor Group Co today agreed to produce and sell electric vehicles in China with Detroit Electric Holding Ltd following the country's incentives to develop alternative clean vehicles.
The Wuhan-based Dongfeng will test and validate Detroit Electric's patented electric drive technology to produce and market Pure Electric Vehicles, Detroit Electric said in a statement on its Website today.
"This validation process is a major proof point for the technical leadership and commercial readiness of our electric motor drive technology. We look forward to working closely with Dongfeng and exchanging our experiences," said Albert Lam, chairman of Detroit Electric.
The two sides are also in talks to form a joint venture to manufacture, assemble, produce and supply the electric drive technology to Dongfeng, China's third-biggest auto maker, and other vehicle manufacturers.
This strategic cooperation with Dongfeng comes on the heels of Detroit Electric's signing of Strategic Licensing and Contract Assembly Agreements with Proton in March.
These agreements provide Detroit Electric with vehicle platforms and its first manufacturing base, and put it on a fast track to introduce a full line of innovative, practical and affordable clean electric vehicles to the global market.
Detroit Electric aims to sell 45,000 vehicles across Europe, the United States and Asia by next year, increasing to 270,000 by 2012.
China is committed to alternative clean vehicles and is offering financial and other incentives to encourage the adoption of zero emission vehicles.
The Wuhan-based Dongfeng will test and validate Detroit Electric's patented electric drive technology to produce and market Pure Electric Vehicles, Detroit Electric said in a statement on its Website today.
"This validation process is a major proof point for the technical leadership and commercial readiness of our electric motor drive technology. We look forward to working closely with Dongfeng and exchanging our experiences," said Albert Lam, chairman of Detroit Electric.
The two sides are also in talks to form a joint venture to manufacture, assemble, produce and supply the electric drive technology to Dongfeng, China's third-biggest auto maker, and other vehicle manufacturers.
This strategic cooperation with Dongfeng comes on the heels of Detroit Electric's signing of Strategic Licensing and Contract Assembly Agreements with Proton in March.
These agreements provide Detroit Electric with vehicle platforms and its first manufacturing base, and put it on a fast track to introduce a full line of innovative, practical and affordable clean electric vehicles to the global market.
Detroit Electric aims to sell 45,000 vehicles across Europe, the United States and Asia by next year, increasing to 270,000 by 2012.
China is committed to alternative clean vehicles and is offering financial and other incentives to encourage the adoption of zero emission vehicles.
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