after more than a year contact and a series of common market study, both sides in the Group restructured into electric car company in reaching consensus, restructuring agreement signed on December 31, 2011, marking the Group on the development of electric vehicle industry in future, zhongrong team and product recognition. taking advantage of the group management, technology, capital advantage, brand, our company to railways in the new the point of low speed electric vehicle, small electric bus, entered a new stage of rapid development.

company has annual production capacity of 30,000 units on low speed electric vehicle project, with an annual output of 2000 small electric bus project. 110 acres for phase I, to invest $ 150 million. the duration of two years (2012.01.01-2013.12.31), an annual production capacity of 15,000 vehicles (including low-speed electric vehicles and small bus).

second phase (2014) 100 acres, investing $ 150 million, forming years 30,000 (with low-speed electric vehicles and small bus) production capacity.

steel body is being conducted low-speed electric vehicle demonstration, selection, complete the prototype trial production in the first half of this year, completed in October construction of stamping, welding, painting Studio and some of the equipment purchase, end form a 5,000-capacity vehicles, sales of 3,000 units.

electric small bus-like vehicles have been successfully developed, end of February in LINQing city tried to run.