Tianneng Group and Chery New Energy will combine forces after signing a contract at the HKCEC today. Pursuant to the said contract, Tianneng Group will develop and manufacture motive batteries for the electric vehicles of Chery New Energy. Chery New Energy will in turn give priority to Tianneng Group when selecting motive batteries for their new energy vehicles.  

Mr. Zeng Lingpeng, President of Chery New Energy, announced the formation of a strategic partnership between Chery New Energy and Tianneng Group. He said that the Company elected to develop a long-term alliance with Tianneng Group mainly due to their expertise in motive battery technologies, and added that Tianneng Group’s strong brand influence in the China market will definitely help fulfill QQEV’s needs in terms of motive batteries. Mr. Zeng also mentioned that the business principle of "A Clean World, YOO Future" adopted by Chery New Energy matches with the mission of Tianneng Group, which is “New Energy New World”. In sharing similar ideologies, Mr. Zeng therefore believes that Tianneng Group can further develop the technology and performance of new energy motive batteries while at the same time promote progress of the electric vehicle industry in China.

Mr. Zhang Tianren, Chairman of Tianneng Group, said, "This cooperative agreement represents an important milestone for the development of the Group. It will provide a solid foundation for our growth in the new energy field as well."