Ideal Auto and Sunwoda establish a joint venture to produce self-developed batteries

On the same day, Ideal Auto also reached a new cooperation agreement with another battery supplier, Sunwoda. The two parties plan to establish a 50:50 joint venture, Shandong Ideal Battery Co., Ltd., to produce Ideal Auto's independently developed power battery products. It is reported that these self-developed power battery products will be installed in Ideal Auto models starting next year.