Detroit Electric will produce SUVs in China Bashny.Net

Detroit Electric has signed a contract to manufacture the electric SUV in China. The agreement involves a trilateral joint venture with local firms China Smarter Energy Group (CSE) and the China Yixing Environmental Technology Industrial Park Development Corporation (ES&TP).The new company is a direct translation from Chinese is called Emperor Electric Car Co., Ltd. The total investment is $ 1.8 billion in Authorized capital is $ 600 million, the remaining 1.2 billion will be financed by bonds and Bank loans.





Share capital structure: investments in the amount of $ 300 million from the Detroit Electric's 50% stake for $ 240 million invested CSE for a share of 40%, and $ 10 million comes from the ES&TP for the last 10%.A joint venture with headquarters in Hong Kong created for the development and production of electric vehicles, spare parts and related technology. The production itself will be located in Yixing Environmental Technology Industrial Park in Jiangsu province in China, and managed by the ES & TP.



According to plans announced by the company, construction of production facilities will begin this year, and will include R & D center. The first model off the Assembly line will be an electric SUV. In 2020, the company plans to sell 100,000 cars with an income of 40 billion yuan ($5.82 billion) and profit before tax of 4 billion yuan ($ 582 million). published

P. S. And remember, only by changing their consumption — together we change the world! ©

Source: www.electromobile360.ru/2017/02/detroit-electric.html