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China Potevio, Shanghai gov't tie up for new energy industries

2009. 28 May

( State-owned China Potevio Co Ltd , a top IT equipment manufacturer in China, has signed a framework strategic cooperation agreement with the Shanghai municipal government to jointly develop new energy industries, in a bid to accelerate the manufacturing of new energy vehicles, the Shanghai Daily reported.

China Potevio plans to invest RMB 5 billion to RMB 8 billion during the next three to five years in new energy industries, aiming to gain over RMB 10 billion from the new business. As one of its key projects, China Potevio will build a new energy base in its Shanghai unit, focusing on the production of batteries and the development of lithium iron phosphate materials.

China Potevio also said that it will cooperate with the local enterprises in Shanghai to establish a JV, providing services to the 2010 Shanghai World Expo through offering battery leasing and management systems for battery charging stations.

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