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JAC discloses details of NextEV cooperation, annual sales of 50,000 NEVs planned

HEFEI, Anhui – JAC said in a statement on May 19 that the company and NextEV signed a manufacturing cooperation framework agreement the day before, finalizing more details of the strategic cooperation framework agreement inked on April 6.

According to the statement, JAC as a production partner would deal with certifications on vehicle products, while NextEV will provide technical and core accessory support and authorize JAC to produce its brand and models. The two sides decided on an initial annual production and sales target of 50,000 vehicles and agree to update each other with a following-year production forecast once each year.

Based on current programs, in the future, the two sides would seek possible additional platforms and capital cooperation. Upon meeting both agreed NextEV-proposed quality and production capacity requirements, NextEV should prioritize its cooperation with JAC on follow-up models.

JAC would help NextEV to start vehicle production, test model vehicles, provide relevant facilities, equipment and personnel on building test models and ensure their mass production.

As the first non-traditional automaker to manufacture vehicles through OEM contract manufacturing, NextEV invested in a ¥3 billion ($472.44) electric motor plant in Nanjing at the end of April.

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