WWW.VERTICALCAROUSELS.CO.UK 14 MARCH 2011

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(Source: People net)

VBYD-Daimler Joint-Venture set for electric cars acquired License from China

Chinese auto group BYD and German luxury car maker Daimler have received business license for their joint venture to develop an electric car in China.

BYD CEO Wang Chuanfu said, " both parties are eager to utilise our strengths to develop a new brand of electric car in China."

Panasonic Automotive Ni-MH Battery fac-tory Sold to China

Japanese media reveled that the Automotive Ni-MH battery factory in Japan belonging to Pana-sonic will be sold to "Ke Li Yuan New energy company" in Hunan, China by 500 million Yen (about 6.08 million USD) by the end of April,2011.

The report claimed that since Panasonic has purchased and transformed SANYO to its sub-sidiary company earlier, Chinese Department of Commerce has the right to require them to sell this factory based on Chinese anti-dumping Law.　

Annual turnover of this Automotive battery fac-tory is about 5 billion Yen. Although Panasonic will lose its business on Automotive Ni-MH bat-tery but SANYO won't stop manufacturing this battery.

Solar powered electrical vehicle attract overseas Order 04/03/2011 (Source: Xinhua)

Solar powered electrical cars developed by a new energy company in Weifang, Shandong of China, has got orders from Germany, USA and Norway. Powered by electricity mainly, this car has 120 km to 150 km of cruising distance. Meanwhile, It is fa-cilitated by an electrical battery panel that can transform solar power to electricity in order to ex-tend its cruising distance by 15% to 20%. The speed of this car can reach 48 km/h.

WEEKLY NEWS CHINESE AUTOMOTIVE INDUSTRY