December 17, 2009

China Charges Up EV Development with US Firms

New joint ventures with US businesses highlight the growing convergence of the Chinese and US auto industries in electric vehicle (EV) development.

ZAP Hangzhou is California startup ZAP (OTC BB:ZAAP) and the Holley Group of China, the world's largest producer of electric meters. The venture will develop an EV and also charging infrastructure for electric taxis. In 2007 ZAP formed a joint development with US-China JV Advanced Battery Technologies (NASDAQ:ABAT).

Shanghai Advanced Traction Battery is a tie-up between A123 (NASDAQ: AONE) a lithium-ion battery systems maker out of the Boston area and giant Shanghai Automotive Industry Corp. The company will work on battery systems for a SAIC EV to come out in 2012.

Lastly, Geely Holding Group and Johnson Controls will form a cooperation around EVs for Geely Automotive to include auto parts and battery systems according to reports....

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