Shanghai (ZXZC)- Tianjin-headquartered EV startup ICONIQ Motors has obtained the qualification to manufacture new energy vehicles (NEVs) by gaining equity interest in Tianjin Tianqi Group Meiya Automobile Manufactory Co.,Ltd (Tianqi Meiya) after signing a stake transfer agreement on July 11 with Jing Hong Investment, who 100% owns Tianqi Meiya, according to official website of Jinghai District government, Tianjin.

(Photo source: ICONIQ)

In the meantime, the startup also entered into a cooperation agreement with local government of Tianjin Jinghai District, signifying the startup’s NEV business will settle down in the district.

Found in 2003, Tianqi Meiya is a carmaker owned by Tianjin Auto Industry (Group) Co., Ltd, a Tianjin-based state-owned automobile manufacturer. Its business scope extends to cover the development, design, manufacture and sales of vehicles and auto parts, as well as related import & export businesses, according to TianYanCha, a Chinese company information search platform.

Going forward, ICONIO will produce electric vehicles using Tianqi Meiya's manufacturing plants and facilities, said the startup.

Established in 2014, ICONIO has so far unveiled two models. The first model, the ICONIQ Seven all-electric MPV, made its debut at 2016 Qatar International Motor Show. Afterwards, the startup offered the first glimpse of the ICONIQ Seven II Concept at the Auto Shanghai 2019 in April this year.