Thursday, August 25, 2011

Lithium Charge: Hertz, GE join in China electric-car venture ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v,, svb, ura.v,,,

  China is very active in Electric Cars space and has a strategic plan to create Lithium batteries manufacturing and Electric Cars industries. Chinese companies are searching the globe in order to secure supply of Lithium and put a solid foundation for the state-level energy Transition plan.

"International Lithium Corp: China Closes Strategic Lithium Transaction in Latin America. SHANGHAI--(BUSINESS WIRE)--In another sign of Latin America’s growing strategic importance to China, SinoLatin Capital announced today the successful closing of Jiangxi Ganfeng Lithium Co. Ltd’s (“Ganfeng Lithium”) acquisition of 9.99% of International Lithium Corp. (“ILC”) a company trading on the Canadian TSX Venture Exchange under the ticker symbol ILC. SinoLatin Capital served as advisor to ILC on the transaction. The strategic relationship agreement provides for, among other things, the right for Ganfeng Lithium to maintain and increase its percentage ownership in ILC, grants certain marketing and offtake rights and provides for ILC board representation."

By The Associated Press
Published: August 25, 2011


An agreement signed Wednesday in Shanghai's "Auto City" of Anting calls for building hundreds of charging stations in major Chinese cities including Shanghai and Beijing, Hertz executives said.

The plan aligns with the government's effort to promote commercialization of new energy vehicles as a way to reduce oil imports and help curb pollution. Setting up the infrastructure to charge such vehicles is viewed as a key hurdle toward enticing consumers to switch from cars that run on gasoline or diesel to electric vehicles.

"Working with our existing rental-car network in China and partners such as GE, we are dedicated to helping build the necessary EV infrastructure in China and to create a new transportation solution that employs the latest technology and harnesses innovations being launched in China today," said Mark P. Frissora, Hertz's chairman and CEO.

The government has included building up the electric vehicle industry in its current five-year economic blueprint, but despite its ambitious plans such vehicles are still a negligible part of China's auto sales because of their high cost and inconvenience compared with regular vehicles.

Incentives that are likely to be rolled out include easier access to license plates — a key concern in cities such as Shanghai, where the price of plates obtained in monthly auctions recently surged above $8,000 apiece.

"There's a bit of a chicken-and-egg component," said Richard Broome, the company's senior vice president for public affairs.

"We're trying to provide some of the missing pieces," he said.

Among the vehicles that Hertz will offer is the E6, a pure electric vehicle made by BYD Autos, a battery maker turned car manufacturer that has been struggling to expand sales of its conventional and non-conventional vehicles as competition in the industry heats up.

The E6 can go 180 miles on a single charge — about the right distance for the kind of driving most customers would do in China's sprawling, traffic-jammed cities.

Hertz is not the first rental-car company to offer electric vehicles in China. That honor goes to eHi Car, a local rental-car company that is among the country's biggest."
Enhanced by Zemanta
Post a Comment