Some of the first systems planned to go into the market will be the Utility Electric Vehicle (UEV) – an off-road and on-road work and maintenance vehicle, the Neighborhood Electric Vehicle (NEV) – a low-speed vehicle, and the Intra-city Logistic Vehicle (ILV) – a compact delivery vehicle similar to those used by major overnight delivery services. The initial focus is on the US, Europe and China, with the electric vehicle market in China expected to be among the fastest growing in the world.
This partnership is consistent with our focus to bring the highest quality products and technology to the world market. We are delighted to be working with KLD to develop utilitarian vehicles powered by KLD's innovative high efficiency electric drive systems, said Peter Wang, Chairman of Cenntro Group Limited, who previously co-founded Unitech Telecom, which is now UTStarcom.
KLD's revolutionary motor system—comprised of the motor, battery pack and controller—significantly advances practical use of electric propulsion with potentially enormous positive environmental and social implications. The system is applicable in a broad range of highvolume products that rely on efficient, hightorque motors, including motorcycles and scooters, three and four wheel on and off road vehicles, equipment for windenergy generation, elevators and escalators, air conditioners, pumps and multiple other applications. KLD and Samsung SDI recently entered into a cooperative relationship to
jointly develop state-of-the-art battery systems which will incorporate Samsung SDI's industry-leading lithium-ion battery cells and KLD's innovative electric vehicle drive technologies, enabling KLD to provide one of the safest and most cost-effective battery system solutions in the industry.
Christian Okonsky, KLD's CEO, remarked, KLD is excited to enter into a relationship with an industry leader like Cenntro. We fully anticipate that their vehicles, with KLD's electric motor systems, will be the most cost competitive highest efficiency, longest range solution on the market today.