After cooperating with CSR Zhuzhou to build a new energy bus base, Shuguang's company plans to invest 90 million yuan to invest in R&D and production of new energy electric vehicles.

Shuguang Co., Ltd. said that its holding company, Changzhou Huanghai Automobile Co., Ltd. invested in the establishment of Changzhou Huanghai Maikeka Electric Vehicle Co., Ltd. Among them, Changzhou Huanghai contributed 90 million yuan (60 million yuan in cash and 30 million yuan in intangible assets), which accounted for 60% of the registered capital; Changzhou Meikeca Electric Vehicle Technology Company invested 30 million yuan in intangible assets, which accounted for 20 registered capital. %, Changjiang Longcheng Technology Company invested 30 million yuan in cash, accounting for 20% of registered capital. The intangible assets contributed by Changzhou Huanghai are trade mark use rights. The intangible assets invested by Changzhou McCaca are electric drive and vehicle platform technologies. The final investment is based on the valuation value.

Huang Hai McCormack is mainly engaged in the research, development, and production of electric vehicles. The planned production capacity for the first phase is 60,000 units per year. The total scale reaches 300,000 vehicles with a total investment of 1 billion yuan. The company stated that the newly-established company can realize the complementary advantages of traditional automobiles and new energy technologies, enhance the company's competitiveness in the field of new energy vehicles, and promote the development of new energy automobile industry.