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Sokon approves proposal of equity incentive in subsidiary

Shirley From Gasgoo| August 23 , 2018

China auto news, Sokon equity incentive, Jinkang New Energy

Shanghai (Gasgoo)- Chongqing Sokon Industry Group Stock Co., Ltd (Sokon) announced on Aug. 21 that the board of directors approved the proposal on carrying out equity incentive for senior executives in its subsidiary, Jinkang New Energy Automotive Co., Ltd. (Jinkang New Energy).

According to the announcement, Jinkang New Energy will conduct equity incentive among senior executives. Being the major implementer of Sokon's NEV strategy and the construction of pure electric passenger vehicle project, Jinkang New Energy had its registered capital increased from RMB 300 million to RMB 1 billion in April, 2017. This July, Sokon added capital in Jinkang New Energy once again, whose registered capital was increased from RMB 1 billion to RMB 4 billion.

SF Motors, an EV startup wholly owned by Sokon, held its global brand-releasing conference on Mar. 28 in Silicon Valley. Besides, its three intelligent electric SUV models also made their debut at the conference.

In the meantime, the "customer-oriented" developing idea and designing language will also be presented at the conference. It is noteworthy that SF Motors also showcased its achievements in electrically-driven technologies and intelligent driving technologies, including high-efficient and reliable battery technologies as well as technologies of high-performance serial electric motor and electronic control.

On July 25, SF Motors announced Jinguo (Chinese character 金菓) as its official Chinese name in Beijing. Meanwhile, the SF 5, the first electric SUV model under this EV brand, also made its China debut. Moreover, the model's Chinese name was also revealed as Jinguo EV.

In September, Jinguo EV plant will finish the modulation and adjustment of facilities and start to carry out trial production. In the following October, Jinguo EV will commence to test its model products' reliability and endurance.

It is said that Jinkang New Energy plans to have an annual NEV PV production capacity of 50,000 units and designed to achieve an annual production capacity of 600,000-set electric motor and battery systems. 

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