Chinese battery manufacturer Camel Group Co. and Croatian supercar maker Rimac Automobili have agreed a joint venture to set up a CNY1 billion (USD158.7 million) factory in Xiangyang, China’s central Hubei province, capable of producing 300,000 new energy vehicle motors per year.
The two parties will establish a joint venture worth EUR12.5 million focused on research and development, production and sales of NEV transmission systems, battery systems and car electronics, the Xiangyang-based firm said in a statement.
Read the full article on www.yicaiglobal.com