Published Date : Mar 08, 2018
Germany's Continental AG has consented to form a joint venture with China's CITC Ltd to deliver alleged mild hybrid batteries that add some electric energy to existing petroleum models without an exorbitant upgrade.
The partnership will begin its activities amidst 2018 and supply battery systems to clients in Europe, North America, China and other Asian markets, Continental said.
The accomplices marked the agreement affirming the joint venture today (March 7) in Shanghai. The joint venture, in which Continental holds 60 percent and CITC 40 percent of the offers, will work comprehensively and supply clients in Europe and North America, and additionally China and other Asian markets.
The arranged location of the organization's base camp is Changzhou, close Shanghai, with activities anticipated that would start mid-2018. The point is to build up the joint venture as one of the main 48-volt battery system producers on the worldwide market.
CITC is owned by AVIC (Aviation Industry Corporation of China), its auxiliary CALB (China Aviation Lithium Battery Co., Ltd.) has skill in creating and delivering lithium-particle cells. The joint venture will soon enable Continental to offer, from a solitary source, its 48-volt mild hybrid battery system, which initially started generation in mid-2017.
Continental says it’s "hybrid battery system" offers a huge reduction in CO2 and other risky discharges in both diesel and fuel motors at a moderately minimal effort. The joint venture partners envision that as ahead of schedule as 2025, around 14 percent of every single new vehicle worldwide will form the highlight of this venture.