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BEIJING: September 06, 2019. As German Chancellor Angela Merkel arrived in Beijing on her latest visit to China, part of her business entourage included Deutsche Post executives to sign an MoU for the development of its StreetScooter product with Chinese automobile manufacturer Chery Holding Group.

Chery has a 20 percent market share of China’s electric commercial vehicle sector and the two companies plan to develop an electric light utility transport for the international market of major fleet operators in last-mile delivery and e-commerce.

Angela Merkel and Li KeqiangThe joint venture will include local manufacturing and sourcing as well as nationwide sales and service for the “gradual” entry of electric light commercial vehicles into the Chinese market. Production is scheduled to begin in 2021 for up to 100,000 electric units a year.

“This production and sales agreement is a major milestone in our company’s, as yet, short history,” said StreetScooter CEO Jörg Sommer. “We’re thrilled about the upcoming collaboration with our partner Chery and this opportunity to open up the world’s largest market for electric light commercial vehicles, introduce our energy, logistics and fleet solutions and create a local source of value creation.”

Chery Holding Group chairman Yin Tongyue said the new agreement would also help establish a location for research and development in China, focusing on developing eLCV components, technology, vehicle architecture and design, autonomous logistics and energy solutions.

The Chinese market for light commercial vehicles is expected to reach 2.3 million trucks by 2025 with over 900,000 electric-powered.

Also accompanying Merkel were Airbus executives to renew an agreement with China’s AVIC Aircraft Company for A319/A320 fuselage equipping in Tianjin. With the first delivery scheduled for Q2 of 2021, the value of the cooperation was US$900 million in 2018.

China is Germany's largest import market and, after the USA and France, its most important export market. In 2018 the two countries traded goods worth almost €200 billion.

Pictured: StreetScooter CEO Jörg Sommer and chairman of the Board of Chery Holdings Yin Tongyue signed their MoU in the Great Hall of the People in Beijing. On hand as witnesses were Angela Merkel and Chinese premier Li Keqiang who also oversaw a new agreement between Airbus and China’s AVIC Aircraft Company for the local assembly of A319/320 aircraft.

CSAFE Global



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