Jemmell New Energy and Zhiyou Automobile signed a strategic cooperation agreement in Xuzhou, China, on August 9.
Jemmell New Energy (Chinese: 吉麦新能源) has announced its commencement of strategic cooperation with Zhiyou Automobile (Chinese: 智由汽车). Pursuant to the agreement, two parties will conduct in-depth strategic collaboration in product positioning, product Research and Development (R&D), manufacturing supply chain, sales services, and venture capital.
Founded in 2018, Jiangsu Jemmell New Energy is recognzied as a new force in electric vehicle manufacturing and battery assembly. With the first-phase investment totalling CNY 2.7 billion (USD 400 million), Jemmell engaged in the New Energy Vehicle (NEV) R&D, production and sales, accessories, and leasing.
Regarding the future product positioning, the two parties conform to the emerging trend of the era of intelligent NEVs. Zhiyou Auto will share the electric platform and A00-A models with Jemmell. They will also collaborate on R&D in the fields of intelligent network connection and intelligent driving.
For the supply chain, Jemmell and related parties have the capability to supply battery packs, seats, instrument panels, and other auto parts. Given that technical conditions are met, Zhiyou Auto will give priority to parts produced and supplied by Jemmell New Energy and related parties. Jemmell and Zhiyou will carry out the joint procurement of auto parts with Zhiyun Auto.
Achieving complementary advantages, shared resources, and coordinated development is the primary aim of this cooperation. Jemmell and Zhiyou Auto are committed to promoting the proliferation of NEVs in the existing market as well as providing green, sustainable, and intelligent transportation modes and services to the general public.