ECOtality Taps China's Electric Vehicle Market With New Joint Venture
ECOtality, Inc. (Nasdaq: ECTY) has joined forces with Changchun Eco-Power Technology Co., Ltd. to address China's recently adopted '12th Five-Year Plan' for developing the nation's EV industry.
To encourage the mass market adoption of EVs, the new plan calls for establishing a network of 2,000 charging stations with 400,000 EV chargers in more than 20 pilot cities across China by 2015.
The partners have established a new joint venture entity, Tianjin Eco-Power Technology Co, Ltd., which will manufacture and distribute ECOtality charging products for a range of EVs, including two and three-wheel vehicles, buses, material handling equipment, and airport ground support—all specifically designed for the regional marketplace. Operations will involve a new assembly facility established in Tianjin.
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