24.07.2024, 16:53
The Chinese corporation XY Group will enter into the project of the Russian electric car Atom
Source: OREANDA-NEWS
OREANDA-NEWS The Russian Direct Investment Fund (RDIF) and JSC Kama, which is implementing the Atom electric vehicle project, have agreed to involve the Chinese international corporation XY Group (Xuan Yuan) in the project with the prospect of localizing the electric car in China and creating an R&D center there.
According to the press service of the foundation, the partnership provides for the possibility of promoting the Atom electric car in the Chinese market, searching for industrial sites and capacities to localize Atom production in Harbin. As part of the agreement between RDIF, XY Group and Kama JSC, it is also planned to create a joint research and development center in China.
"Localization of the production of the Atom electric vehicle in China supports the entry of the Russian company to the global level, which is one of the key priorities for the fund as an investor in the project. The partnership with XY Group will also open up additional technological opportunities for the project and in the future will give Atom access to the world's largest automotive market," the RDIF press service quotes Kirill Dmitriev, CEO of the fund.
Xue Hailong, Executive President of XY Group Corporation, noted that electric mobility is technologically advanced and has market prospects. Kama JSC is the developer of the first Russian platform for electric vehicles and plans to launch serial production of Atom electric vehicles in 2025. China and Russia have a huge space for joint cooperation in this area. XY Group is ready to work with the Russian side to develop and create a better future for the electric vehicle industry," the RDIF press service quotes the top manager of XY Group.
The Foundation notes that in May this year it opened a representative office in Harbin, one of the key tasks of which is industrial cooperation and promotion of Russian companies in the Chinese market. In June, the fund announced plans to invest 2 billion rubles in Atom. XY Group in early July published press releases on its website about negotiations with the management of Kama JSC and representatives of the Russian Direct Investment Fund, as well as about the visit of its delegation to Moskvich. XY Group named Rosatom, KAMAZ, Kaspersky and RDIF among the co-investors of the electric car design company Atom.
XY Group is a private Chinese multinational corporation established in 1988. It operates, in particular, in Russia and the CIS countries, and also has branches and representative offices in the USA, Germany, the Middle East, Africa, Asia and other regions. The Group is engaged in international trade, implements turnkey EPC projects, works in construction for the energy industry, builds infrastructure, implements high-tech production projects.
According to the press service of the foundation, the partnership provides for the possibility of promoting the Atom electric car in the Chinese market, searching for industrial sites and capacities to localize Atom production in Harbin. As part of the agreement between RDIF, XY Group and Kama JSC, it is also planned to create a joint research and development center in China.
"Localization of the production of the Atom electric vehicle in China supports the entry of the Russian company to the global level, which is one of the key priorities for the fund as an investor in the project. The partnership with XY Group will also open up additional technological opportunities for the project and in the future will give Atom access to the world's largest automotive market," the RDIF press service quotes Kirill Dmitriev, CEO of the fund.
Xue Hailong, Executive President of XY Group Corporation, noted that electric mobility is technologically advanced and has market prospects. Kama JSC is the developer of the first Russian platform for electric vehicles and plans to launch serial production of Atom electric vehicles in 2025. China and Russia have a huge space for joint cooperation in this area. XY Group is ready to work with the Russian side to develop and create a better future for the electric vehicle industry," the RDIF press service quotes the top manager of XY Group.
The Foundation notes that in May this year it opened a representative office in Harbin, one of the key tasks of which is industrial cooperation and promotion of Russian companies in the Chinese market. In June, the fund announced plans to invest 2 billion rubles in Atom. XY Group in early July published press releases on its website about negotiations with the management of Kama JSC and representatives of the Russian Direct Investment Fund, as well as about the visit of its delegation to Moskvich. XY Group named Rosatom, KAMAZ, Kaspersky and RDIF among the co-investors of the electric car design company Atom.
XY Group is a private Chinese multinational corporation established in 1988. It operates, in particular, in Russia and the CIS countries, and also has branches and representative offices in the USA, Germany, the Middle East, Africa, Asia and other regions. The Group is engaged in international trade, implements turnkey EPC projects, works in construction for the energy industry, builds infrastructure, implements high-tech production projects.
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