Shanghai (ZXZC)- FAW Car announced on Jan. 30 that it signed a cooperation agreement with Hunan Corun New Energy Co., Ltd. (hereinafter referred to as Corun) in Changchun, Capital of Jilin Province.

According to the agreement, both parties will adopt Corun's hybrid system on models under Besturn brand at the early stage of their cooperation. They will develop a tailored HEV model, which is expected to go on sale in 2019 and will run and be promoted in public transportation area.

As their cooperation deepens, they will jointly promote the application of Corun's hybrid system on more models of FAW Car and develop the HEV and PHEV models. In the future, they will conduct cooperation in various areas, including hybrid technology, vehicle development technology, localization of R&D and manufacturing for core parts, establishment of supply chain system and operation for market sales, based on their demands. Their cooperation modes include but not limited to the cooperation on products, technologies, capitals and sharing mobility.

FAW Car and Corun will collaboratively manufacture and sell 150,000 NEVs during 2019 and 2021, according to the announcement. During 2019 and 2020, the tailored HEV model will prioritize to meet Corun's desire of promoting the model in public transportation area.

When the tailored HEV model reached sales of 50,000 units, they will carry forward deep negotiation on the cooperation of Corun's hybrid system.