China's 16 centrally-managed State-owned Enterprises (SOEs) will form an association Wednesday, aimed at developing China's own electric cars, the Shanghai Securities News reported Wednesday.
The association, under direct control and guidance of the State-owned Assets Supervision and Administration Commission, will coordinate activities of companies along the upstream and downstream industrial chain and try to avoid overlapping efforts in developing China's electric autos.
The association aims to integrate technological standards and to help Chinese companies master key technologies in making electric vehicles.
Car manufacturers China FAW Group, the Dongfeng Motor Corporation and Chongqing Changan Automobile Co, also known as Chana Auto, will join the association.
Oil companies including the China National Petroleum Corporation, the China Petroleum & Chemical Corporation, and the China National Offshore Oil Corporation will also join the association. These companies will help build recharging stations, according to China Business News.
The Shanghai Securities News did not provide a complete list of all these companies invited to join but said the rechargeable batteries maker, the BYD Company Limited, was not included.