Wonder Auto Announces a Joint Development Agreement with BYD
29 September 2009
English.chinabuses.com: Wonder Auto Technology, Inc. (Nasdaq: WATG) (hereinafter referred to as Wonder Auto), a leading manufacturer of automotive electrical parts, suspension products and engine accessories in China, today announced that one of its subsidiaries, Jinzhou Halla Electrical Equipment Co., Ltd (Jinzhou Halla), has entered into a joint development agreement with Shenzhen BYD Auto Company Limited ("BYD"). According to the agreement, Jinzhou Halla will design and develop alternator prototypes for Shenzhen BYD's sedan products (Model: BYD F3/F3R) with engine size between 1.3L and 1.5L, and sample deliveries will commence in Nov. 2009 for testing.
BYD F3/F3R is very popular in China at the moment. According to China Association of Auto Manufactures (CAAM ), it ranked number one for the sales of a single car model for one quarter and for four single months during the first eight months of 2009.
"We believe BYD will play an important role in the development of the automotive industry in China. In December 2008, Wonder Auto entered into similar agreements to develop starters for BYD. The cooperation was successful and BYD is now one of our major customers for starters. This newly signed agreement for alternators again demonstrates our strong R&D capabilities and will also bring us at least 100,000 extra unit sales next year," commented Mr. Qingjie Zhao, Chairman and CEO of Wonder Auto. "Besides BYD, we are also actively cooperating with other major domestic and international auto and engine manufacturers for the development of new products. We believe such cooperation will help the company to include more quality manufacturers into our customer base and support the fast growth of our company."
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