Chinese battery maker Corun joins Geely to develop hybrids
Hunan Corun New Energy Co., a private Chinese battery maker, will establish a joint venture with Zhejiang Geely Holding Group Co. to develop conventional hybrid vehicles.
Corun will contribute its battery technology to the joint venture while Geely will provide powertrain technology, the Shanghai-listed battery maker said.
Corun says it also is recruiting other automakers to join the new venture.
Additional details about the joint venture and its products were not disclosed.
Corun, incorporated in the central China city of Changsha in 1998, acquired a nickel-metal hydride battery plant from Japanese supplier Panasonic Corp. in 2011. It currently produces nickel-metal batteries for hybrid vehicles in Changsha and Japan's Kanagawa prefecture.
Geely, a private automaker headquartered in the east China city of Hangzhou, also owns Volvo Car Corp.
Unlike electric vehicles, plug-in hybrids and fuel cell vehicles, conventional hybrids do not qualify for government subsidies in China.
Corun says it also is recruiting other automakers to join the new venture.
Additional details about the joint venture and its products were not disclosed.
Corun, incorporated in the central China city of Changsha in 1998, acquired a nickel-metal hydride battery plant from Japanese supplier Panasonic Corp. in 2011. It currently produces nickel-metal batteries for hybrid vehicles in Changsha and Japan's Kanagawa prefecture.
Geely, a private automaker headquartered in the east China city of Hangzhou, also owns Volvo Car Corp.
Unlike electric vehicles, plug-in hybrids and fuel cell vehicles, conventional hybrids do not qualify for government subsidies in China.
