SHANGHAI, Mar. 18 (SMM) – China’s leading lead-acid battery producer Camel Group recently signed framework contract with Wanyang Group Mar. 18 to set up an electric car battery company, according to a statement filed to the Shanghai Stock Exchange.
The company will be engaged in R&D, production, sales, and recycling of lead-acid batteries serving electric automobiles, and the registered capital is planned at 30 million yuan ($4.9 million) with Camel Group claiming 51% and Wanyang Group 49%.
Camel Group said the cooperation with Wanyang will help it capture market share in automobile car market.
Wanyang Group, located in China’s lead producing center Henan province, has a capacity to produce 200,000 tonnes of refined lead and 3.6 million KVAH of lead-acid battery per year.
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