Sunday December 15, 2019
Home India China, India ...

China, India Keen on Joint Ventures For e-vehicles

He also proposed to the two sides to hold a meet in the first half of this year in Beijing to explore cooperation possibilities between their firms

0
//
India and China on Saturday agreed on a joint economic project in Afghanistan, sources said after a two-day summit between Prime Minister Narendra Modi and Chinese President Xi Jinping here.
China, India keen on joint ventures for e-vehicles, wikimedia commons

China and India, the world’s two largest greenhouse gas emitters, are keen on joint ventures in manufacturing electric vehicles as companies from both countries held talks at a three-day event in Beijing.

India’s leading automakers such as Maruti Suzuki, Tata, TVS and industry associations participated at the 5th China EV100 Forum in Beijing where e-vehicle manufacturing firms from across the world were present.

The three-day event, which concluded on Sunday, was organised by China EV100, a private electric vehicle association of over 200 leading Chinese electric mobility industries.

Anil Srivastava, Principal Advisor at NITI Aayog, who headed the Indian delegation, met Chen Qingtai, President of China EV100.

According to McKinsey, China has emerged as the leader both in the supply of and demand for electric vehicles.

However, some Chinese firms believe India will surpass China in terms of demand for these vehicles.

Earlier, in an interview to IANS, the General Manager of China’s leading electric vehicle company, Sunra, Victor Lu, said he sees India emerging as the world’s biggest market for electric bikes.

Countering China's High-Altitude Land Grab
Indian PM Narendra Modi and Chinese President Xi Jinping. Twitter

Addressing the forum, Srivastava talked about India’s policy for the promotion of electric mobility, the current state of play and future roadmap.

He mentioned that India is committed to global environmental commitments and will encourage the development and adoption of clean energy and new energy transportation.

He also said that that Chinese electric vehicles companies can pay a substantive role in helping India achieving its ambitious goal of electric mobility by 2030.

Also Read- Pakistan Decides To Shelve Major CPEC Power Project

He mentioned that EV industries of both countries should have more interaction and proposed to establish a formal interaction mechanism between them.

He also proposed to the two sides to hold a meet in the first half of this year in Beijing to explore cooperation possibilities between their firms.

While meeting Srivastava, Chen said India was an important country for Chinese electric vehicle players and encouraged Chinese industries’ participation and investment in the Indian market. (IANS)

Next Story

Samsung Electro-Mechanics Plans To Close HDI Unit of Production in China

The company has reportedly been struggling to make a profit in recent years due to fierce competition from low-cost Chinese and Taiwanese rivals

0
HDI
Samsung Electro-Mechanics has been expected to pull away from the HDI business due low profitability. The company previously announced its HDI production line in Busan will be transferred to Vietnam. Wikimedia Commons

Samsung Electro-Mechanics Co., an electronic components maker affiliated with Samsung Electronics, has said it will shut down one of its Chinese units that produces high density interconnect (HDI) substrates due to low profitability.

Kunshan Samsung Electro-Mechanics Co. in Jiangsu, China, will halt production and sales, Samsung Electro-Mechanics said, adding that it also plans to sell assets of the Chinese unit.

Kunshan Samsung Electro-Mechanics produces HDI, a type of printed circuit board used in electronic devices, including smartphones and laptops, Yonhap news agency has reported.

The company has reportedly been struggling to make a profit in recent years due to fierce competition from low-cost Chinese and Taiwanese rivals.

HDI
Samsung Electro-Mechanics Co., an electronic components maker affiliated with Samsung Electronics, has said it will shut down one of its Chinese units that produces high density interconnect (HDI) substrates due to low profitability. Wikimedia Commons

To help the Chinese unit wind up its business, Samsung Electro-Mechanics will purchase 383.6 billion won worth of new shares issued by Kunshan Samsung Electro-Mechanics so the company can pay off its debts.

ALSO READ: Students with Higher Emotional Intelligence Better Academic Performance

Samsung Electro-Mechanics has been expected to pull away from the HDI business due low profitability. The company previously announced its HDI production line in Busan will be transferred to Vietnam. (IANS)