Corun New Energy Gets 35.48 Million Yuan Government Subsidies for New Energy Vehicle Battery Projects

SHANGHAI, Oct. 9 (SMM) – Hunan Copower EV Battery Co., Ltd. – subsidiary of Hunan Corun New Energy Co., Ltd. – received 35.48 million yuan ($5.78 million) of government subsidies in total for new energy vehicle battery projects, it told Shanghai Stock Exchange today.

Copower EV Battery got 11.78 million yuan from the local government of Changsha, Hunan province, for its rare earth hydrogen storage alloy battery module project. The 48,000-set-per-year project produces battery modules serving new energy vehicles.

The company also received 23.70 million yuan from the government for a hybrid car Ni-MH battery project.

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