(Yicai Global) June 12 -- A wholly-owned subsidiary of Aotecar New Energy Technology Co. [SHE:002239] (Aotecar) has been confirmed as a supplier of electric compressors for FAW Volkswagen Automobile Co.'s new energy vehicles.
FAW Volkswagen Automobile is a leading passenger carmaker jointly operated by China FAW Group Corp., Germany's Volkswagen AG [FOB:VOW], Audi AG [ETR:NSU], and Volkswagen (China) Investment Co.
Nanjing Aotecar New Energy Technology Co., the wholly-owned subsidiary, received a notice from FAW Volkswagen on June 9 that it has been confirmed as a supplier of electric compressors for FAW Volkswagen's NEVs, Aotecar said yesterday afternoon. Nanjing Aotecar will develop, produce and supply electric air-conditioning compressors for FAW Volkswagen's five NEV models on sale starting next year.
The deal will not only help improve its future revenue and profits, but also positively impact the company's efforts to consolidate its leading position in the electric-vehicle air-conditioning compressor industry and expand its market presence, Aotecar said.