Shanghai (ZXZC)- China's new energy vehicle (NEV) maker Human Horizons on June 17 formed a strategic partnership with Jiangsu Yueda Group, a Yancheng-based investment management company, and Dongfeng-Yueda-Kia, Kia Motors' joint venture in China, to cooperate in NEV production and supply chain, etc., according to the official WeChat account of Human Horizons.

(Photo source: WeChat account of Human Horizons）

Registered in 1992, Dongfeng-Yueda-Kia was jointly founded by Korean's Kia Motors (50%), Dongfeng Motor Group (25%) and Jiangsu Yueda Group (25%). According to Human Horizon's statement, its first vehicle model will be manufactured at the automobile joint venture’s plant in Yancheng, Jiangsu Province and is scheduled to be mass produced and sold into the market in 2021.

The partnership between Human Horizons and Jiangsu Yueda Group dates back to September 2017. At that time, both parties decided to team up on such areas as NEV manufacturing in the form of equity interest transaction. Then, at the end of 2018, the Jiangsu-based company enlarged its shares in Human Horizons (Jiangsu) Technology Co.,Ltd by increasing capital. Under the overall planning and support of Jiangsu Yueda Group, both companies have established a joint working team and determined the collaboration methods in manufacturing and the scheme to industrialize cooperative achievements.

Human Horizon defines itself as an innovative technology company committed to future intelligent mobility with “3-Smart” (Smart Vehicle, Smart Transportation and Smart City) as its strategy, according to the introduction posted on its official website. On April 2019, the company formally announced the “3-Smart” strategy under which it would build new-era vehicle species on three dimensions—“H” for vehicle technologies, “U” for V2X collaboration and “A” for connectivity and sharing. The Concept U, its third concept model following the Concept A and H, was unveiled at the same time.