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China New Energy Bus Giant Manufacturer Formed


CSR Zhuzhou and SG Agreed on JV
  Affiliated with China South Locomotive & Rolling Stock Corporation Limited ( “CSR” ) , Zhuzhou Electric Locomotive Research Institute Co., Ltd. ( abbreviated as CSR Zhuzhou Institute)  signed the agreement with Liaoning SG Automotive Group Co.,Ltd. (abbreviated as SG Automotive) on “Cooperation and and JV for Energy Saving and New Energy Vehicle Project” . This event was held at headquarter of CSR in Beijing on 6th, Jan. 2011. In the signing ceremony, the two parties expressed their determination and confidence for creating the largest new energy bus manufacturer in China.
Many key figures were on the scene, like Li Wanli the head of industry policy department of Industry and Information Ministry, leaders from Hunan Science and Technology Bureau, Zhen Changhong CSR vice president and CEO, Ding Rongjun executive director and general manager of CSR Zhuzhou Institude. On behalf of SG Automotive, chairman Li Jindian, vice CEO Shao Tianjie, independent director Zhang Shulin, CFO Yu Hong and General Manager of Commercial Vehicle Division Jiang Aiwei attended the signing ceremony as well.
   Li Jindian, Chairman of SG conveyed that signing the agreement only stands for a positive beginning. The two strong enterprises should combine with each other to optimize their advantages. Only in this case, the co-development of traditional motor bus and new energy bus can be promoted and new energy bus manufacture base with high standard can be established. The two parties should make an all-out effort to be pioneers in this field.

   Zheng Changhong, vice president and CEO of CSR remarked that as one of the founders of state-owned industry association of electric vehicles, CSR regards electric vehicles industry as an essential target for development. It is hoped that the two parties grasp this historical opportunity and create a key industry base of new energy vehicles in China through sharing resources and complement advantages mutually.

SG Automotive Group Co.,Ltd    Address: No.889, Yalujiang Boulevard, Zhenxing District, Dandong, Liaoning Province, P.R. China.
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