Qiantu Auto, owned by automotive-design contractor CH Auto, has become the third contractor to gain approval from China's main state-planning body, after it obtained permission to build 50,000 electric vehicles (EVs) per year in a CNY2bn ($300m) factory project. The company said on Wednesday that its first EVs will be sold next year, with another 10,000 expected to hit Chinese roads over the following two years. South Korea's Hyundai plans to build nine EVs in China by 2020.
Qiantu Auto, owned by automotive-design contractor CH Auto, has become the third contractor to gain approval from China's main state-planning body, after it obtained permission to build 50,000 electric vehicles (EVs) per year in a CNY2bn ($300m) factory project. The Chinese authorities want the country to become a world leader in EVs, but their push has prompted rivals to act too. South Korea's Hyundai plans to build nine EVs in China by 2020.