On June 24, BAIC Foton Motor Co., Ltd. (hereafter referred to as Foton) officially announced that it would establish Bejing Kawen New Energy Automobile Co., Ltd. (to be confirmed by market supervision and management department) by joining hands with Bosch (Shanghai) Entrepreneur & Investment Co., Ltd. (hereafter referred to as Bosch), Shanghai Boyuan Jiacheng Entrepreneur & Investment Co., Ltd. (hereafter referred to as Boyuan Jiacheng), Beijing SinoHytec Co., Ltd. (hereafter referred to as SinoHytec), Shenzhen Fuyuan Intelligent Investment Co., Ltd. (hereafter referred to as Fuyuan)

According to the announcement, the new joint venture boasts a registered capital of 500 million RMB, 65% (325 million RMB) of which will be held by Foton, 10% (50 million RMB) by Bosch, 10% (50 million RMB) by Boyuan Jiacheng, 10% (50 million RMB) by SinoHytec and 5% (25 million RMB) by Fuyuan.

The registered location of Bejing Kawen New Energy Automobile Co., Ltd. is No. 15, Shayang Rd., Changping Dist., Beijing. The company is specialized in research, development, production, sales of electric and hydrogen fuel cell commercial vehicles and related rental and data services.

In addition, the company has seven directors on its Board of Directors (five are recommended by Foton, one by Bosch, one by SinoHytec) and one supervisor. Its general manager and the person in charge of its finance are both recommended by Foton.

Source : www.chinabuses.org

Editor : Isabella

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