Shanghai (ZXZC)- On December 12, Sky-well New Energy Automobile Group Co. Ltd (Sky-well) and Shenzhen BAK Power Battery Co., Ltd (BAK Battery) agreed to forge a long-term strategic partnership on new energy vehicle (NEV) development, coming on the heel of the former unveiling a fire-new new energy PV brand.

(Photo source: BAK Battery's WeChat account)

According to the latest agreement, Sky-well plans to spend hundreds of millions of yuan on procuring power battery system from the Shenzhen-based battery manufacturer, and both parties intend to jointly push ahead with the development of new technologies, new materials and new crafts.

To cope with the challenges of global NEV market, two companies will extend their collaboration to more fields related to NEV industry, expecting to improve their strengths in respective business.

Founded in 2001, BAK Battery is engaged in manufacturing cylindrical, prismatic and polymer batteries. It also offers such services as battery packaging and battery solutions, which are mainly used in NEVs, consumer products and back-up energy storage. In 2018, the Shenzhen-headquartered battery provider was honored the champion in China by annual installed capacity of cylindrical power battery and powered more than 170,000 NEVs in total, according to an introduction from the company's official website.

(Photo source: Skywell)

Sky-well recently draws the public's attention by announcing the all-new brand “Skywell”, which is designed to develop new energy passenger vehicles. The first model under the newborn brand has been unveiled at the same time. Reportedly, the “Skywell” is to be formally launched next year with its first all-electric mid-sized SUV hitting the market in the second half of 2020.