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Shanghai Automotive Group Co., Ltd. and American A123 Systems Inc. recently announced that they will set up Shanghai Jiexin Power Battery System Co., Ltd. in accordance with the ratio of 51:49 to jointly develop, manufacture and sell automotive power battery systems and provide technology. Services and other after-sales services. This move will help Shanghai Automotive realize the development strategy of new energy vehicles industrialization, and form a breakthrough in the industrialization of battery systems, the key components of new energy vehicles.
A123 is a leading NASDAQ listed company in the field of lithium iron phosphate battery technology. Shanghai Automotive and A123 once cooperated in the development of new energy prototypes. Both parties have a good basis for cooperation. The newly established Shanghai Jiexin Power Battery System Co., Ltd. will focus on the development and production of automotive power battery systems and will provide China's automotive industry with advanced technology, reliable quality, and comprehensive cost advantage products and services.
After continuous accumulation, SAIC Motor has already laid out a relatively complete auto parts system, solidifying the foundation for integrated vehicle development. As a leading automobile manufacturer in China, SAIC insists on "independent innovation, internal and external integration, and walking on two legs." While seeking international cooperation, SAIC actively cultivates domestic suppliers of parts and components, and finally forms an independent industrial chain system. The accumulation of strong technical talents is the guarantee for the industrialization of SAIC's new energy vehicles. SAIC's New Energy Vehicle Division is responsible for the development of fuel cell cars. The company was established at the beginning of this year and specializes in the development of "three powers" core technologies such as batteries, motors, and electronic controls. There are nearly 100 people in the New Energy Technology Division of the Commercial Vehicles Technology Center. The team is responsible for the development of new energy commercial vehicles.
As an active pioneer of China's new energy industry, SAIC Motor has clearly proposed the development goals for the industrialization of new energy vehicles: In 2010, the Roewe 750 hybrid hybrid car with 20% fuel economy will be put into the market in bulk; in 2012, fuel economy will be 50%. The above Roewe 550 plug-in strong-mix cars will be listed in bulk; the same year, SAIC's own brand of pure electric cars will also be introduced to the market.