Chinese automaker Changan Auto has announced a new joint-venture (JV) with China Hybrid Systems (CHS). The JV will allow Changan to use CHS technologies in its products such as the Eado plug-in hybrid electric vehicle (PHEV) and the CS75 PHEV. The local media website Gasgoo claims that CHS has received CNY1 billion (USD150 million) in funding from the Chinese government to strengthen its development of hybrid powertrains.
Significance: CHS was formed in 2014 in a venture between Chinese automaker Geely and battery components supplier Hunan Corun, with CNY336 million reportedly invested in the new company. The aim of the company is to strengthen development of batteries and components for hybrid vehicles.
