Haima Motor to assemble vehicles for EV startup
Haima Motor Corp., a private light-vehicle manufacturer, says it will build cars for domestic electric-vehicle startup Xiaopeng Automotive Technology.
Haima will assemble up to 50,000 EVs for Xiaopeng over the next four years, Haima said. Production of the first model, a crossover, will begin this year.
Xiaopeng was established in Guangzhou in south China’s Guangdong province in 2014. Last year, the startup unveiled an electric crossover.
Haima is based in Haikou in south China’s Hainan province and is listed on the Shenzhen stock exchange. The company produces sedans, crossovers and MPVs in Haikou and Zhengzhou.
The production deal with Xiaopeng will allow Haima to make greater use of its production capacity.
In the first eight months, Haima’s sales fell 29 percent year on year to 89,464 vehicles, and production plunged 33 percent to 83,252 vehicles.
Xiaopeng is the not the first Chinese EV startup to hire a traditional automaker to build vehicles. Last year, NIO signed a 10 billion yuan ($1.5 billion) contract with Jianghuai Automobile Co. to produce its vehicles.
NIO formerly was known as NextEV.
Haima will assemble up to 50,000 EVs for Xiaopeng over the next four years, Haima said. Production of the first model, a crossover, will begin this year.
Xiaopeng was established in Guangzhou in south China’s Guangdong province in 2014. Last year, the startup unveiled an electric crossover.
Haima is based in Haikou in south China’s Hainan province and is listed on the Shenzhen stock exchange. The company produces sedans, crossovers and MPVs in Haikou and Zhengzhou.
The production deal with Xiaopeng will allow Haima to make greater use of its production capacity.
In the first eight months, Haima’s sales fell 29 percent year on year to 89,464 vehicles, and production plunged 33 percent to 83,252 vehicles.
Xiaopeng is the not the first Chinese EV startup to hire a traditional automaker to build vehicles. Last year, NIO signed a 10 billion yuan ($1.5 billion) contract with Jianghuai Automobile Co. to produce its vehicles.
NIO formerly was known as NextEV.
