China JAC group signed agreement with NEXTEV, an Internet automaker in China to manufacture alternative energy vehicles jointly on May 18.

 

JAC will be authorized to use trademarks and technology of NEXTEV to manufacture modes of alternative energy vehicles. Production and sales are expected to be 50,000 per year. NEXTEV agreed to sell modes of alternative energy vehicles except for the first mode manufactured by JAC first on condition that they can meet quality and quantity requirement. Both sides may cooperate on other projects in the future.

 

NEXTEV will provide technology support, assisting JAC in completing production plan in time, which will meet quality requirement of both sides. Besides, NEXTEV will also provide JAC with parts and materials required for production. And JAC will be responsible for all parts related to manufacturing.

 

The first mode jointly developed by JAC and NEXTEV may be high-end electric vehicle more like Tesla. But insiders declared that this mode might offer better service than Tesla. This mode may be brought to the market in 2018.

 

Insiders pointed out that cooperating with JAC could shorten the period of products development, leading to an advantageous place for NEXTEV to compete with others.