Recently, Tianneng Power, State Grid Corporation of China and Zhejiang Kandi Vehicles Co. Ltd. jointly held a signing ceremony in Jinhua City marking their agreement to cooperate in the establishment of Jinhua City Electric Car Motive Battery Replacement Service Company, which is the first company of its kind in China. Through this venture, a more advanced commercial model of the electric car industry will make further strides forward in the country – "Jinhua sells cars but not batteries". Mr. Jin Zhongliang, Deputy Mayor of Jinhua City, attended the signing ceremony.

 

According to the agreement, the three parties involved will integrate their respective strengths in the areas of motive battery, car manufacturing and power grid as well as invest capital to form an electric car battery replacement and rental company. Six quick battery replacement stations, located within a 300 sq. km. urban area of Jinhua City – consisting of a 5 x 5 km grid are planned to set up, forming a distribution network that is capable of providing prompt replacement of electric car batteries. The stations will be responsible for delivering a range of integrated services including rental, charging, quick replacement, and recycling of electric car motive batteries, along with professional maintenance, after-sale technical supports and services for pure electric cars and related motive batteries.

 

This new cooperative model can effectively address problems associated with electric cars, such as high costs, limited traveling range, long recharging time, and inadequate charging facilities; providing a practical and feasible development model for the commercialization of electric cars. Being a motive battery supplier, Tianneng Power has created an advantage for its products and services by establishing a new commercialization channel on top of its R&D, manufacturing, sales, after-sale services and product recycling operations.