China Volant Industry Co. inked a framework agreement with National New Energy Vehicle Co. (NNEV) on Wednesday to cooperate on development of electric vehicles and key parts and accessories.
As agreed, China Volant Industry will provide its partner with electric motors and accessories and set up a distribution network in 9 cities including Beijing, Shanghai and Wuhan to sell pure electric vehicles produced by its partner.
China Volant Industry, backed by China Aerospace Science & Industry Corp. (CASIC), has access to the group's resources in auto manufacturing and new energy vehicles. Tianjin-based NNEV, a subsidiary of National Electric Vehicle Sweden Co., Ltd (NEVS), possesses core technology of Saab Automobile.
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