Nick Hayek chief executive of famous watchmaker Swatch group announced yesterday that the company signed a Memorandum of Understanding with Chinese car maker Geely to use its innovative battery developed by the watchmaker’s research firm Belenos.
Geely, the Chinese owner of London Taxi Company, was just last month in the news when it raised $400 million to help develop zero-emission vehicles, new generation of black cabs. “We are committed to producing zero-emission capable vehicles,” said Peter Johansen, London Taxi Company chief executive. The memorandum of understanding with Geely was signed mid-May, Hayek said in the interview without giving financial details. He added “We’re giving Geely the possibility to use our revolutionary battery system,” and “This is a first breakthrough for our invention and shows the huge interest industrial firms take in it.”
According to Hayek, a joint production in China can start already as soon as 2017 where Geely can make use of the patented battery to produce electric vehicles. GEELY Holding Group is one of China’s top ten automobile enterprises and has formed an annual production capacity of 600,000 cars, 600,000 engines and 600,000 transmissions.
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