Funeng Technology and Jiangsu Xinri sign Strategic Cooperation Agreement

A few days ago, Funeng Technology and brilliance Xinri New Energy vehicle Co., Ltd. (hereinafter referred to as Jiangsu Xinri) signed a strategic cooperation agreement, the two sides will complement each other, common development, continue to maintain a leading position in the industry, and achieve strategic win-win.

According to the agreement, the two sides will work together to achieve the goal of purchasing more power batteries than 5GWH by 2021-2023. At the same time, the two sides will set up a joint research and development team to jointly develop new energy vehicle power batteries and electric two-wheeled batteries. Funeng Technology provides Jiangsu Xinri with the support experience of new energy vehicles and electric two-wheelers, including passenger cars, logistics vehicles, motorcycles and derivative models. Under the same conditions, Jiangsu Xinri gives priority to the use of Funeng technology power batteries in new energy vehicles, electric two-wheelers and other products.

Jiangsu Xinri is mainly engaged in the research, development, production and sales of high-end and intelligent electric bicycles. It has two major business sectors: new energy vehicles, electric bicycles and motorcycles. At present, it has several production bases in Wuxi, Tianjin, Hubei, Guangdong and Zhejiang. Its products are exported to Europe, the United States and Southeast Asian markets, and are exported to nearly 100 countries and regions in the world, ranking among the top three in China's electric bicycle industry. It is also the first company in the industry to be listed on the A-share motherboard.

Jiangsu Xinri is the only electric bicycle company in the industry that has served the Beijing Olympic Games, Shanghai World Expo, Xi'an Expo and China Aerospace. It is also the first enterprise in the industry to obtain electric motorcycle production qualification through declaration.

With the joint venture and cooperation between Xinri shares and brilliance Group, Jiangsu Xinri has realized the transformation from electric bicycles to electric vehicles, which is also an important breakthrough in the business development of its new energy vehicle sector. positioning the development of intelligent, networked, fashionable and lightweight new energy vehicle products to create a national green travel boutique popular style car.