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Chery Auto, China"s largest independent auto manufacturer, recently signed an agreement with Shenzhen Cometech Sci&Tech Co., Ltd. to jointly make new energy buses, with an investment of 1 billion yuan ($149 million), the Chinese newspaper website Anhui News.com reported recently.
"An agreement has been reached on the project, but further talks are still needed to nail down the details. The project will be launched in Wuhu city, southeast China"s Anhui province, Chery spokesman Jin Yibo told reporters on the phone.
"Chery has some great advantages in technologies of new energy sedans, which provides a good basis for both companies to tap the new energy bus market, and which is also the reason we chose to cooperate with the Auhui-based automaker," a person in charge at Shenzhen Cometech told reporters.
Chery"s August domestic sales jumped 46% month and month and 42% year on year to 56,933 cars, compared with the industry average of 18.5% and of 7.6% respectively.