## NextEV to build $463M plant in Nanjing; motors and modules ##### 03 May 2016 NextEV and the Nanjing Municipal Government signed a strategic partnership agreement to build a 3 billion RMB (US$463 million) plant facility for the development and production of high-performance motors and electronic modules in the Nanjing Economic and Technological Development Zone.

The plant will have a production capacity annual output of 280,000 units when it goes into operation in the second half of this year, and will focus on NextEV’s proprietary intellectual technologies such as its motors and electronic modules during the first phase, said NextEV Co-founder & EVP, XPT CEO Jack Cheng.

NextEV believes that electric vehicles’ core components and their related products will be the next battleground for the industry, and we have developed our own proprietary intellectual technologies, on par and exceeding international standards, like the drive system assembly through our emphasis and investments in Research and Development. Chinese enterprises need to cooperate to develop complementary synergies in win-win relationships in order for China’s electric automotive industry to be globally competitive. To this end, NextEV is willing to share our technologies, and build key components for other domestic electric vehicle manufacturers.

—NextEV Founder and Chairman William Li

In April, NextEV and JAC Motors signed a comprehensive strategic cooperation agreement worth up to ten billion RMB (US\$1.5 billion) in the field of electric vehicles．

NextEV and JAC Motors said they share joint technical expertise，supply chain，marketing，advanced manufacturing，and capital．

Our two companies will build an automobile platform for the mobile Internet era，promote the development of the electric automotive industry，and raise the level of China’s electric automotive industry．

—JAC Motors chairman Jin An

NextEV is also working with Bosch and Samsung SDI.