On December 4, Huang Weizhong, Chairman of Zhejiang Asia-Pacific Mechanical & Electrical Co., Ltd. (Asia Pacific), and Rampic, CEO of Slovenian technology company ELAPHE, signed an investment cooperation agreement in Ljubljana. Ambassador Ye Hao, Zhao Xiufen, Commercial Counselor, Si Development Strategy Project and representatives of officials from the Ministry of Economic Affairs and Technology of the Ministry of Economic Development and Technology attended the ceremony.
According to the agreement, Asia Pacific shares will invest 10 million euros in capital increase and acquire 20% of the shares of ELAPHE. The two parties agreed that after the capital increase, a joint venture company will be established in China to produce hub motors.
Before the signing ceremony, Ambassador Ye held talks with the heads of enterprises of China and Sri Lanka. He said that the fourth China-Central and Eastern European country leaders meeting was held in China at the end of last month. Prime Minister Szclar attended and held talks with Chinese Premier Li Keqiang. The two sides proposed a level to further enhance China-Slovakia economic and trade cooperation. Today, the signing of China-Asia-Pacific shares and ELAPHE is the result of further strengthening Sino-Sri Lankan economic and trade cooperation. This project is not only conducive to the entry of high-tech products of the company into the Chinese market, but also in line with the internationalization of Chinese enterprises. The need for an upgrade. I believe that this cooperation will definitely achieve a win-win situation and ensure that both parties will achieve practical results in the expansion of energy vehicles and smart cars.
Asia Pacific is committed to the production of automotive brake systems and intelligent driving technology systems. It is a leading company in China's auto parts brake industry, a listed company, the first batch of national auto parts export base enterprises, and a large-scale specialization level for domestic self-development and production of automotive ABS. Auto parts suppliers have strong independent research and development capabilities, and their output in 2014 exceeded RMB 4 billion. ELAPHE is a major automotive brake accessory research and development company, focusing on the research and development of electric vehicle and other vehicle wheel technology, and is a world leader in the field of electric vehicle wheel motors. Through this cooperation, Asia Pacific shares will receive ELAPHE's advanced technology in the field of hub motors. After the completion of this acquisition, it will become the largest project of Sino-Sri Lankan economic and trade cooperation in recent years.
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