Wuhan, China, June 19 – Detroit Electric Holdings Ltd and Donfeng Motor Company announced today that the two companies will work together to research, develop, market and sell Pure Electric Vehicles (PEVs) in China using Detroit Electric’s advanced electric drive technology.
The agreement will allow Donfeng Motors to test and validate Detroit Electric’s electric drive train technology in order to produce and market Donfeng’s PEVs. The parties are also discussing the possibility of forming a joint venture company, which would manufacture, assemble, produce and supply Detroit Electric’s technology to Donfeng and other auto manufacturers.
“This validation process is a major proof point for the technical leadership and commercial readiness of our electric motor drive technology,” said Albert Lam, Detroit Electric’s Chairman and CEO.
This agreement with Donfeng follows closely behind a contract with Proton on March 30. These agreements put Detroit Electric on the competitive track to create a full line of innovative, practical and affordable PEVs to the global market by providing the company with its first manufacturing base and vehicle platforms.
“This cooperation with Donfeng allows us to work closely with a strong partner in China to explore various ways to enter the world’s largest vehicle market,” said Lam, who aims at selling 45,000 vehicles across Europe, the United States and Asia by next year; and increasing that number to 270,000 by 2012. Detroit Electric’s products range from high performance sports cars to stylish sedans capable of driving over 200 miles in a single charge.
China has become one of the key players in the EV race, offering financial and other incentives to encourage the adoption of zero emission vehicles. China’s commitment to alternative, clean vehicles and its role in the EV market make it fertile soil for Detroit Electric to grow over the next five years.
Photo Credit: Detroit Electric