Inovance and Ideal Auto have close cooperation

Huichuan United Power is a supplier of electric drive products for Ideal Auto, accounting for about 40% of the business in 2023 and increasing to about 60% in 2024. The two parties also established a joint venture in Changzhou, Changzhou Huixiang, to produce five-in-one electric drive assemblies (two motors, two electronic controls and a reduction gearbox).