Cenntro Group has experience making powertrains that are used in industrial, agricultural, transportation and construction equipment worldwide. This will work well for the new joint venture objective to build a series of vehicles such as a Utility Electric Vehicle, which is an off-road and on-road work and maintenance vehicle. A low-speed Neighborhood Electric Vehicle and an Intra-city Logistic Vehicle compact delivery vehicle are also in the planning and development phases.
As for target markets, the joint venture will be focusing on the US, Europe and China, with China the market with the strongest growth potential. Cenntro Group operates in that market through Xinchang Cenntro Machinery Co., Ltd., and the company is a major shareholder in Sinomachinery Group Ltd.
As seen above, KLD has been developing its technology for a few years now including electric motor scooters serving the Vietnam market and in other projects designed at its Austin, TX, headquarters. It will provide the motor, battery pack and controller for the KLD/Cenntro product. KLD and Samsung SDI recently made an agreement to develop battery systems incorporating Samsung SDI's lithium-ion battery cells and KLD drive technologies.