Roshow increases investment in JV with Chery Commercial Vehicle

Shanghai (Gasgoo)- Roshow Technology Co., Ltd announced that it would adjust the investment ratio in the joint venture with Chery Commercial Vehicle. Roshow increased the investment from RMB 35 million to RMB 40 million, accounting for 40% of the JV's registered capital, while Chery adjusted the investment from RMB 65 million down to RMB 60 million, to keep the total registered capital remain unchanged, still 100 million RMB.

On 1st, September this year, Roshow announced that it would cooperate with Chery Commercial Vehicle to establish a new company, , in which Roshow would invest RMB 35 million. However, Roshow's investment was adjusted up to account for 40% of the joint venture's registered capital.

According to the statement, the aim of the establishment is to innovate the business development model of new energy vehicles (NEVs). Through joint venture, Roshow expects to realize market expansion for more market shares, and comprehensively enhance its expertise in NEV technology by giving full play to the advantages of both investors' market resources and actively developing new areas for NEVs' business. In addition, the JV company will utilize both investors' resources advantages and rich experiences in management, technology and operation, to achieve the objectives of NEVs in electronic power engine, electronic control and batteries, thus to realize technology improvement and gain market competency.