Tianji Automobile Joint Venture will invest US $500 million to build a plant in Saudi Arabia with an annual production capacity of about 100000 new energy vehicles.

CTOnews.com, December 12 (Xinhua)-- Chinese new energy vehicle brand Tianji Automobile (Changsha) Group Co., Ltd. (referred to as "Skyline Automobile") recently completed a joint venture contract with Saudi Arabia. Skyline Automobile will be the first new energy vehicle company in the world to put into production in Saudi Arabia.

It is reported that Skyline Motor has set up a joint venture with local Sumou Holding in Saudi Arabia to jointly invest about US $500 million (about RMB 3.48 billion) in two phases in Saudi Arabia to set up a manufacturing and R & D base for new energy vehicles, with an annual production capacity of about 100000 new energy vehicles. In addition, Skyline Motors is also discussing investment strategies with Saudi investors and stocks, including Saudi sovereign funds and Arab American Oil Company.

CTOnews.com learned that Skyline Automobile is a high-end travel technology enterprise integrating R & D, production, sales and service of new energy vehicles. Prior to this, ENOVATE Skyline has released intelligent electric SUV-ME7, ME5, ME-S and other models.

Skyline ME5 is the second mass-produced car, located in the compact SUV, the body length, width and height are 4580/1915/1635mm, wheelbase is 2750mm. In terms of power, the new car is equipped with an incremental hybrid system composed of a 1.5T engine and a motor, which can be fueled and electrified. The NEDC comprehensive range is 1012km, and the price starts at 138800 yuan.