Jiangte Electric Co., Ltd. cooperates with Maye Automobile Co., Ltd. in the new energy vehicle project.

Jiangte Electric disclosed in the evening of July 16 that Jiangxi Yichun Bus Factory Co., Ltd., a holding subsidiary of the company, and Sichuan Maye Automobile Co., Ltd. signed the Cooperation Framework Agreement, and the two sides reached a cooperation agreement on R&D, production and sales of new energy vehicles. The "Mustang" brand car produced by Mustang Automobile has been listed as one of the key products planned and developed by the Sichuan provincial government. Now it has the only load-bearing and non-load-bearing mixed assembly line in Southwest China. It is a large-scale enterprise integrating R&D, traditional and new energy vehicle production and sales, and it is quite influential in the local area. According to the agreement, Yichun Bus Factory entrusts Mustang Automobile to assist in the processing and production of electric buses, in which Mustang Automobile provides complete vehicles or auto parts and production technology, and Yichun Bus Factory organizes production. Yichun Bus Factory is a first-class distributor of wild horses in Yichun, Jiangxi Province, and is responsible for the sales of wild horses in designated areas. In the research and development of new energy vehicles, Mustang Automobile is responsible for the design of new energy vehicles, Yichun Bus Factory is responsible for the research and development and technical improvement of the three power systems, and its intellectual property rights belong to both parties. According to the company, Mustang Automobile is a large-scale enterprise integrating R&D, traditional and new energy vehicle production and sales. Yichun Bus Factory, with its advantages in research and development, can accelerate the development of the company's electric vehicles.