Geely, Corun cooperate for new energy car technology

BEIJING - Chinese auto maker Geely and Hunan Corun New Energy, a leading producer of advanced batteries, announced on Sunday to build a technology platform for new energy vehicles (NEVs).

The platform is open to all Chinese car producers with independent brands and nine enterprises have promised to join so far, said Li Shufu, chairman of Zhejiang Geely Holding Group.

Besides, the two companies launched a hybrid power automobile project in Changsha, Hunan Province, in February, and it is expected to start production in 2017.

Since 2014, the government has been subsidizing purchases of NEVs and offering tax exemptions to upgrade the economy and protect the environment.

In its latest move, the State Council announced in February a fresh set of policies including building more battery charging facilities and increasing the share of NEVs in the public transportation system.

The number of new energy vehicles produced in China quadrupled to 379,000 in 2015, according to the Ministry of Industry and Information Technology.