Zongshen Power, Boston-Power to form JV for EV battery

Shanghai, May 11 (Gasgoo.com) In a statement issued today, Chongqing Zongshen Power Machinery Co., Ltd. (a company, involved in development, manufacture and sale of motorcycle engines, general power machineries and accessories) announced that it would sign Memorandum of Cooperation with Boston-Power, Inc. in the field of battery packs and power system integration.

Under the Memorandum of Cooperation, the two sides have agreed to establish a joint venture in the Chongqing municipality, southwest China, to produce battery packs for the markets of two-, three- and four-wheel electric vehicles.

According to the preliminary work plan, after signing the MOC, Chongqing Zongshen Power will start testing, under the Sample Purchase Agreement, the battery samples, provided by Boston-Power, from April to May 2010.

The statement says the two sides will officially sign the Joint Venture Agreement by the end of October 2010.

However, Chongqing Zongshen Power said the cooperation with Boston-Power is still at the planning stage, with great uncertainty.

In November 28 last year, Zuo Zongshen, Chairman of Chongqing Zongshen Power, said that the company will be fully engaged in R&D of the electric energy, lithium batteries, vanadium batteries, titanium batteries and the super capacitor technology, and set foot in new power and new energy.