Shanghai (ZXZC)- Geely Group (New Business) Co., Ltd and Hainan State Farms Investment Holdings Group Co., Ltd officially signed a strategic framework agreement on June 3 to cooperate in new energy and mobility service areas. According to the agreement, both parties will join forces to develop four major businesses, including the Share'n Go (an EV sharing platform), the Caocao Zhuanche (Geely’s EV mobility service platform), methanol fuel and methanol-fueled vehicles as well as flying cars.

At the signing ceremony, Hainan State Farms Commercial Logistics Industry Group Co., Ltd (HSF) and Share'n Go signed a shareholder investment agreement to fully initiate the operation of Share'n Go in Hainan Province. Both parties will jointly make effort to provide users with economic and convenient mobility services in the form of long-term and short-term rental, timesharing rental and tailored taxi service, etc. Both companies hope to effectively lower users’ travelling cost and reduce the waste of social resources through the cooperation.

Based on Caocao Zhuanche platform, HSF and Share'n Go will promote the implementation and operation of some mobility service platforms (including Caocao Zhuan) with the aim of offering various mobility solutions that is convenient, environmentally friendly and intelligent. In addition, they will jointly employ Hainan’s rich methanol resource and promote the use of methanol-fueled vehicles there, with an ambition to build a methanol fuel transmission system and refueling service stations covering the whole Hainan Province.

China aims to gradually phase out sales of fossil-fuel vehicles in Hainan Province, according to a governmental guideline on reforming Hainan Province released in April. Besides, Hainan government will formulate and release a planning to popularize EVs by 2030, which contributes to environmental energy promotion for global islands economy, Shen Xiaoming, governor of Hainan Province, said on April 9. 

Some EV startups in China have started to make layouts in Hainan Province. On Aril 11, WM Motor officially signed a cooperation agreement with Hainan Province Transport Investment Holding Company Limited to deploy in tourism rental area. Both parties will build a joint venture that plans to operate 2000 EVs in Hainan Province in the next three years. Moreover, the startup's independent smart travelling service brand “GETnGO” will cooperate with the joint venture to develop tourism-focused travelling business on the island.