BEIJING, Sept. 8 (Xinhua) -- EVE Energy Co., Ltd, one of China's leading lithium-ion battery manufacturers, announced reaching agreements with Electrified Power, Daimler Truck, and PACCAR to invest in the establishment of a joint venture(JV) through its sub-subsidiary in the U.S. to enhance its battery production capacity, reported China Securities Journal.
According to the announcement, Eve Energy will invest no more than 150 million U.S. dollars for a 10 percent stake in the JV, while Daimler Trucks and Buses US, Accelera, and Paccar will invest 830 million U.S. dollars each for a 30 percent stake.
The strategic collaboration between the parties will yield multiple benefits, including reduced product costs, while the three US shareholders will buy all or the vast majority of the batteries produced at the JV plant to use them on designated commercial vehicles in North America, according to Eve Energy.
Besides, EVE Energy said that this move will enhance the company's competitiveness and internationalization level, which is an important measure for the company to improve its global industrial layout.
(Edited by Bao Nuomin with Xinhua Silk Road, baonuomin@xinhua.org)
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