The Cooperation Future of Youngman and ZAP
2008-01-23 Source：english.chinabuses.com
Youngman Automotive Group, China's leading luxury coach and high-quality commercial truck manufacturer signed a joint venture agreement with US electric car pioneer ZAP to manufacture, market and distribute electric and hybrid vehicles for the passenger car, truck and bus markets in the last year. The new joint venture company will also focus on the development and manufacture of electric charging infrastructure. The deal includes the manufacture of buses, trucks and passenger vehicles, including the Zap-X crossover SUV.
Two sides believe that the win-win cooperation could bring a great future. Mr. Liu Zhonglai, marketing director of Youngman said " We're co-investing $40 million to the joint venture, which will have a research and development center in California and its production base in our headquarters in Jinhua (East China's Zhejiang Province). We will add more investment when the electric vehicles go into mass production." The sample vehicles will be debut recently. Two or three months after testing, the electric-powered sedan under the Lotus brand will be the first to go into mass production. It will be a great achievement for China and US partnership companies to develop and produce electric cars that generate no pollution and save non-renewable oil resources.
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