Yinlong betting big on electric future

The acquisition of US battery company Altair Nanotechnologies Inc in 2011 has proved a valuable investment for Zhuhai Yinlong Energy Co as the technology gives it a foothold in the promising new-energy vehicle market.

With 3.3 billion yuan ($538 million) invested, the company based in Zhuhai, Guangdong province looks to benefit from growth spurred by government policies, said Ao Jianhua, deputy president of the company.

The policies include a sales tax exemption on new-energy vehicles starting Sept 1 and the use of such vehicles in government fleets.