Corun, Haima to expand Hybrid vehicle market shares together

Shanghai (Gasgoo)- Hunan Corun New Energy Co., Ltd (Corun) announced on December 25 that it signed an agreement of strategic partnership with Haima Automobile Group Co., Ltd (Haima) to jointly expand their hybrid vehicle market shares in China. Both parties reached a consensus on the design, production and sales promotion of Haima M6.

According to the agreement, Corun should provide hybrid systems for Haima and buy Haima's hybrid vehicles (the products specified in the agreement) which are equipped with the Corun's hybrid systems. The product should be produced by Haima in form of customization and the sales promotion should be handled by Corun. Meanwhile, they will pay most of attention to public transportation area in the initial period.

In accordance with the agreement, Corun and Haima regulates that by the end of 2021, the cumulative sales volume of the product specified in the agreement should be no less than 150,000 units. 

Corun is responsible for products' exclusive sales of 2019 and 2020, while Haima can sell the products during these periods upon agreement reached by both parties. Corun stated that through the cooperation with Haima in hybrid vehicle's design, production and sales promotion, it aims to enlarge the application of hybrid power technologies in China's auto market and rapidly increase the market shares of hybrid electric vehicles and plug-in-electric vehicles in China auto market.