According to the cooperation framework agreement, Power Century Co., Ltd. and Shanghai Jinqiao set up a joint venture company in Shanghai Development Zone, and plan to launch high-performance electric sports cars and luxury electric vehicles in China. Li Shiji plans to set up R&D center, regional headquarters and production line in the development zone. Shanghai Jinqiao coordinated the government and other relevant departments to assist in applying for relevant industrial support policies, production access and product access permits, and provided factories.
Previously, in March 2020, Legacy completed the European high-performance supercar manufacturer Apollo Automobil. 86.06 acquire shares and become its major shareholder. Subsequently, its Apollo sports car was exhibited at the China International Import Expo last year, among which Apollo Intensa Emozione was the most eye-catching.
The two sides will actively promote the project, with the goal of officially starting commercial production in 2023. At present, there is no specific information about the naming of the new company, and we will continue to pay attention.