GREE Group, a provider of air-conditioners in China, is reportedly about to acquire Yin Long, a manufacturer of alternative energy vehicles in South China, aiming to launch green vehicles.

 

GREE has invested a lot on development of products in diversified industries in recent years. Technology and high quality of products has allowed GREE to develop multiple brands, according to Dong Mingzhu, president of GREE. Building diversified brands may serve to improve global awareness of Chinese brands. And, production capability of 100,000 units of electric SUVs per year has encouraged the acquisition of Yin Long by GREE.

 

This air-conditioner provider set a goal last year to achieve gross sales of RMB200 billion yuan by 2020, encouraging development of other business. Now, business of green vehicles may seem promising for the company.

 

However, corporates in IT industry including Baidu and LeECO in China have also invested on launch of alternative energy vehicles. Governmental policy and construction of a great number of charging stations may encourage development of green vehicles segment in China