Chinese Car Maker Wants to Go Electric

It is big dreams of electric based vehicles for China these days as a company that is not well known to global audiences has set some very large ambitions for itself. Anhui Jianghuai Automobile Co. is the name of the business and it is a China based maker of trucks and sport utility vehicles. Known as JAC Motors for short, the company has announced that it would invest 30 billion yuan, which is $4.43 billion in US currency, in cars that will use alternative energy sources by taking part in a joint venture. By working with Tianjin Zhengdao Stock Investment and Management Co., JAC Motors will build 1 million of these cars across an 8 year span of time after it has constructed a plant which will specialize in this type of vehicle’s production. The joint venture registered over $103 million in capital and this foray into new energy vehicles is a first for JAC Motors. So far, the company wants to build gas electric hybrids as well as cars that run entirely on an electric battery. Car makers in China are gearing up to battle one another for government funds, hoping to become one of the fabled 3 to 4 new energy makers of vehicles that the central government of China wants to be able to help become leading stars of the nation’s auto industry.

China is a different type of nation, say analysts, when it comes to any industry and this holds true for the auto industry as well. As big as China’s home market for autos may be right now, the export market is where the companies that are based here tend to aim their products.

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