Yesterday, the municipal government in Shanghai signed a strategic cooperation agreement with China Potevio on development of new-energy vehicles.
As a state-owned company, China Potevio is mainly engaged in manufacturing telecom networking gear. Now it is working hard to integrate the electric-car battery industry chain.
It plans to disburse as much as CNY 5 billion to CNY 8 billion to develop renewable energy business in the coming three to five years. And it will set up a battery production base in Shanghai to roll out electric-car batteries and lithium iron phosphates.
Moreover, it will spare no efforts to serve the World Expo 2010 Shanghai by setting up battery-charging stations in the city and offering battery renting service.
Established on July 23, 2003 in Beijing, China Potevio is a domestic leading IT equipment manufacturer and service provider. It was born out of China Posts and Telecommunications Industry Corporation, which has the longest history in China's telecommunication industry.
