Evergrande partners with global leading automotive firms to bolster new energy vehicle dev. (FOTO)

Beijing (ots) -

China's conglomerate China Evergrande Group has joined hands with
the world's five leading automotive engineering and technology
enterprises to further optimize its industrial chain layout in the
new energy vehicle field.

The group's auto subsidiary Evergrande New Energy Automobile Group
signed on Wednesday a strategic agreement on vehicle R&D and design
with German auto engineering and technology firms FEV Group, EDAG and
IVA Group as well as Austria's AVL and Canada's Magna.

The move marked the group's aggressive ambition of becoming the
world's largest new energy vehicle company within the next three to
five years and achieving production and sales of 5 million vehicles
in ten years.

"The Group aims to lead the world in technologies and the
manufacturing quality of new energy vehicles," said Xu Jiayin,
chairman of Evergrande Group.

Under the agreement, Evergrande will work with the five auto
giants to jointly develop 15 new automobile models, covering a full
range of product types including the top-grade, ultra-luxury, luxury,
exclusive, comfortable and classic models.

As the world's leaders in the field of automotive engineering
technology, the five auto giants have the most advanced technologies
in chassis, body-in-white, powertrain, electronic appliances, body
interior and exterior decoration.

Insiders noted that this strategic cooperation, reflecting
Evergrande's concept of "Big Strategy, Big Target, Big Pattern, Great
Positioning and Large Layout" in car manufacturing, is not only
considered a vital milestone for Evergrande and China, but also of
epoch-making significance in the history of the world's automobile
industry.

After tapping into the new energy vehicle market last year,
Evergrande has struck a raft of deals with European companies to
boost development of its new energy vehicle products.

In January of this year, Evergrande teamed up with Swedish super
car brand Koenigsegg to develop the core technology of the world's
top luxury cars. In July, it formed a joint venture with German
automotive powertrain engineering company hofer to jointly produce
electric powertrain systems and in September, the company obtained
the intellectual property of the chassis architecture 3.0 for the
world's top new energy vehicles from German auto parts suppliers
BENTELER and FEV Group.

At present, Evergrande boasts a number of automobile production
bases nationwide with the adoption of the world's top production
equipments and production processes, providing a strong guarantee for
mass production of the full range of its "Hengchi" auto products.

Headquartered in the southern Chinese city of Shenzhen, Evergrande
saw its net profit stand at 78.3 billion yuan (about 10.99 billion
U.S. dollars) for 2018.

Contact:
Gao Jingyan
+86-135-5290-5167

Original-Content von: Xinhua Silk Road Information Service, übermittelt durch news aktuell