China Automotive Technology and Research Center recently announced that it will invest 100 million yuan to set up "Chongqing Kairui Electric Vehicle System Technology Co., Ltd.", all of which will be funded by China Automotive Research Corporation with its own funds and assets. Kerry Electric will give full play to the advantages of China Automotive Research and establish an electric vehicle technology development platform and electric vehicle power system and key parts production base through technological innovation and new product development.
According to the announcement of China Automotive Research Institute, Kerry's electric operation scope is the technical service of power system and control system related to vehicle electrification, as well as product development, production, sales and after-sales service. In addition, China Automotive Research and Chongqing Chaoli High-Tech Co., Ltd. intend to jointly establish “Chongqing Kairui Weikesi Environmental Protection Co., Ltd.†to jointly promote the SCR industrialization project. The two parties intend to sign a "joint venture contract", stipulating that the registered capital of Chongqing Kairui Weikesi Environmental Protection Co., Ltd. is 40 million yuan, the first phase of cash investment is 20 million yuan, and China Automotive Research Institute will invest 12 million yuan in cash, with a capital contribution ratio of 60%. Ligao invested 8 million yuan in cash, with a capital contribution ratio of 40%; the remaining 20 million yuan was invested in cash and fixed assets and intangible assets, and fixed assets and intangible assets were evaluated and confirmed by qualified assessment agencies identified by both parties.
According to the company, it has established a joint venture with Superpower Hi-Tech Co., Ltd. to develop a vehicle exhaust aftertreatment system, which can give full play to the technical advantages of China Automotive Research Institute and the production organization and market advantages of Super High Tech to achieve strong alliance and advantages. Complementing and promoting the industrialization of automobile exhaust aftertreatment system.
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