On Apr. 25, a foundation-laying ceremony was held in Xiaoshan Dist. Hangzhou to commemorate the start of construction of Wanxiang Pure-Electric Vehicle & Lithium-ion Battery Production Base, signaling the entry of Wanxiang Group into pure-electric vehicle (PEV) market.  

LU Guanqiu, president of Wanxiang Group announced at the ceremony the production base will boast an annual production capacity of 1,000 pure-electric commercial vehicles and 1 billion watts/h lithium-ion batteries after it is put into operation.

Since its involvement in R&D of electric vehicles in 1999, Wanxiang Group has made a total investment of RMB 450 million (about USD 65.9776 million) in this sector. Even though the company has not yet reaped one penny in return, it still thinks the money is well spent. CHEN Jun, General Manager of Wanxiang EV Co., Ltd. recently disclosed that from battery to electric motor to electronic control to electric vehicle, the company has made significant achievements in terms of lithium-ion polymer batteries, electronic control system for complete vehicles, integrated electric motor, and auto engineering integration technologies, etc. Currently, it is the only domestic company that is capable of manufacturing the key parts and driveline systems for electric vehicles, including batteries, electric motors and electronic control.

Also attending at the ceremony are WAN Gang, China’s Minister of Science and Technology and a host of other officials from central government. Mr. WAN also spoke highly of the launch of Wanxiang’s new project.

Some analysts believe that time is not yet ripe for the popularization of all-electric vehicles in common families due to their exorbitantly high price. However, thanks to the supports directly from government, electric buses, mobile electric service vehicles and electric taxis are now gaining increasing popularity among the public.

Source : english.chinabuses.com

Editor : Mark

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Tags: Wanxiang PEV Market Approval