Changan and Geely join hands to produce hybrid powertrains
Chinese car maker Chongqing Chang an Automobile Co has joined hands with Zhej iang Geely Holding Group Co in a subsidiary joint venture to develop hybrid power trains, hoping to realize an ambitious new energy vehicle plan.
Changan Automobile, Kunming Yunnei Power Co and Hunan Co run New Energy Co plan to inject more than 460 million yuan ($ 70.7 million) in total into Corun Hybrid System Technology Co, or CHS.
Chang an Automobile is investing 100 to 120 million yuan in money and technology properties valued at 80 to 100 million yuan.
Hunan province based CH Sis a joint venture established between Corun and Geely in 2014 for research and development of hybrid powertrains, with a 10 billion yuan investment plan.
CH Sis expected to start volume production by 2017 with an annual production capacity of 100,000 power trains, after completing the first phase of plant construction. It has received 100 million yuan fiscal support from the gove rn ment, according to a stock exchange document Co run filed last year.
Yang Dayong, director of the brand and product department at Changan Automobile, told local media: “The company is developing new energy vehicles with two types of power trains, both plug- in hybrid and pure electric, because the direction for the development of new energy vehicles is not set yet, and there’ s no agreemen ton approaches in the industry .”
Chang an Automobile announced in March 2015 that a total of 34 new energy models would be launched by 2025, including 27 pure electric cars and seven plug- in hybrid cars.
Zhong Fa ping, chairman of Corun, said that the hybrid power train technology platform is a platform open to everyone, and CH Sis also promoting cooperation with other car makers. He envisions more automakers and part suppliers working with CHS in the future.
Hunan Co run, which specializes in automotive traction battery productions, hash ada joint venture with Toyota Motors since 2013, and became the world’s number one automaker’s major battery supplier in China.
Gee ly said in a statement:“CH Sis an open platform, and we embrace new partnerships with an open mind for win- win cooperation.”
Gee ly has a right to inject up to 200 million yuan in the future.
Gee ly Automobile is set to launch its CH S powered Em grand EC 7 hybrid electric edition in the first half of this year. The car consumes just 4.9 liters of fuel per 100 kilometers.
Six Em grand cars powered by 1.8- liter methanol engine were tested in Iceland on Tuesday.
The automaker pl ans to have more than 90 percent of its total sales volume contributed by NE V models, according to the strategy it announced in November last year. Its NE Vs also include methanol vehicles, besides plugin hybrid, pure electric, hybrid electric vehicles.