Sunwoda's subsidiary plans to establish joint venture with Dongfeng Group and Dongfeng Hongtai

Sunwoda announced on June 17 that the company has agreed its subsidiary, Sunwoda Vehicle Battery, to set up a joint venture with Dongfeng Group and Dongfeng Hongtai to conduct R&D on cells and modules and related components of power batteries and energy storage batteries, so as to meet Dongfeng Group, Dongfeng Hongtai and affiliated parties' demand for products of auto power batteries and energy storage batteries.Asian Metal CopyrightSunwoda announced on June 17 that the company has agreed its subsidiary, Sunwoda Vehicle Battery, to set up a joint venture with Dongfeng Group and Dongfeng Hongtai to conduct RD on cells and modules and related components of power batteries and energy storage batteries, so as to meet Dongfeng Group, Dongfeng Hongtai and affiliated parties' demand for products of auto power batteries and energy storage batteries.Asian Metal Copyright The registered capital of the joint venture is RMB500 million (USD74.Asian Metal Copyright97 million, accounting for 51% of the registered capital.Asian Metal Copyright45million), and Sunwoda Vehicle Battery plans to subscribe RMB255 million (USD37.Asian Metal Copyright The registered capital of the joint venture is RMB500 million USD74.Asian Metal Copyright97 million), accounting for 51% of the registered capital.
.Asian Metal Copyright The registered capital of the joint venture is RMB500 million USD74Asian Metal Copyright