ALTe forms joint venture with Chinese CV manufacturer
Based in the Henan province of China, Benma produces 20 commercial vehicle models sold domestically, with a capacity of 300,000 vehicles per year. Under the joint venture, the companies will produce a portfolio of models powered by ALTe’s electric and hybrid drivetrains, sold under a new brand nameplate, with an annual sales target of 10,000 units.
ALTe said the first vehicle would a three-tonne light commercial truck and medium-sized bus, which will begin production as soon as it can complete the application engineering and validation testing.
John Thomas, Chairman and CEO of ALTe stated that ‘We have always observed that an informed strategic investor would be our best ally and that is precisely what we have found with Benma. Working together with Benma in China and theUSA, we expect to implement the technology improvements and cost reductions to enable broad adoption of plug in electric hybrid powered vehicles."
To date, ALTe’s work has centered around a converted Ford F150 pickup truck, deployed in North America. The company has also partnered with Club Assist in Illinois, deploying a range-extended F150 electric pickup truck on the company’s Chicago fleet.For more of the latest industry news, click here.