Detroit Electric Holdings Ltd., a leader in the electric car industry, has entered into a strategic cooperation with Chinese automotive manufacturer Dongfeng Motor Corporation to jointly research, develop, market, and sell Pure Electric Vehicles (PEVs) in China.

Under the terms of the agreement, Dongfeng will test and validate Detroit Electric’s advanced electric drive technology to produce and market the pure electric vehicles. The two companies will also study and explore the market entry strategy of these electric vehicles under the Dongfeng and Detroit Electric brand.

Dongfeng and Detroit Electric are currently in talks to form a joint venture company that will manufacture, assemble, produce, and supply the electric drive technology to Dongfeng and other automotive manufacturers.

Aside from the agreement with Dongfeng, Detroit Electric has also signed strategic Licensing and Contract Assembly agreements with Malaysian vehicle manufacturer Proton worth $331 million annually. These agreements provided the company with vehicle platforms and its first manufacturing facility, accelerating its efforts to introduce pure electric vehicles to the global market. Detroit Electric aims to sell 45,000 of electric vehicles across Europe, the United States, and Asia by 2010, and will increase to 270,000 units by 2012.

With China as the world’s largest vehicle market, Detroit Electric is eyeing to enter the key market and realize its growth over the next five years. China is offering financial and other incentives to encourage the use of zero-emission vehicles in the country.

Detroit Electric Holdings Ltd. is among the leaders in the electric vehicle industry, manufacturing efficient and environmentally-friendly electric vehicles and drive-systems for the global market. The company has invented and patented the Magnetic Flux Motor Technology for the motor drive train, and owns the intellectual property for the Motor Controller Programme. Detroit Electric has offices in Holland, Hong Kong, Malaysia, and the United States.

Dongfeng Motor Corporation is one of the leading automakers in China, manufacturing passenger vehicles, commercial vehicles, engines, auto parts and components, and other automotive equipment. The company’s business facilities are located in Shiyan, Xianghan, Wuhan, and Guangzhou.


-  Natassia Y. Laforteza

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¹ http://detroit-electric.co.uk/display_article.php?id=80