CHONGQING – Chongqing Jinkang New Energy Vehicle Co., Ltd. (Jinkang), a subsidiary of listed Sokon Industry Group, has become the country’s 8th EV manufacturer with a production license granted by the National Development and Reform Commission (NDRC).
NDRC approved the company’s program to build 50,000 electric passenger vehicles a year in Chongqing on January 5.
Jinkang also becomes the 4th NEV subsidiary of a traditional auto OEM to get such a license after JMEV under JMC.
With a ¥2.5 billion ($363.37 million) investment, Jinkang aims to produce 50,000 electric passenger vehicles including SUVs and 60,000 sets of e-drives and battery packs a year.
Construction on the program is expected to be started this June and finished by October 2018.
Besides the electric passenger vehicle program, parent company Sokon will also finance about ¥4 billion for its U.S.-based subsidiary SF Motors’ electric smart vehicle program.