Chery S18 electric vehicle
Chery Automotive Group
Over the weekend in Beijing, electric vehicle (EV) infrastructure pioneer Better Place announced that it signed a memorandum of understanding (MOU) with China's Chery Automotive. The deal will help Better Place bring its oft-talked about battery-swapping technology along with its EV charging infrastructure over to China.
Following up on our report last month about Volvo possibly going to the Chinese, state media is now reporting that Chery Automobile, one of the largest independent and fastest growing Chinese auto manufacturers, has its eyes on the Swedish automaker. Although officials at Chery rule out the possibility of buying Volvo, other sources have stated that the Chinese automaker has already negotiated funding for a possible acquisition. If so, that funding will be significant-insiders put Volvo's value