Better Place Signs Electric Vehicle Deal with China’s Chery

Under the terms of the agreement, Better Place and Chery will jointly develop switchable-battery electric vehicle prototypes with the goal of securing regional Chinese government electric vehicle pilot projects.

As part of the collaboration agreement, the Chery exhibit at Auto China 2010 features elements of the Better Place EV solution, including electric vehicle charge spots and battery-switch technology displayed with a Riich G5 sedan.

China has set an industrial policy with the objective of becoming the largest EV developer and manufacturer in the world.

Chery Riich G5 electric sedan

HSBC research predicts that China’s share of the global EV market will grow from 2.7% this year to 35% by 2020. During this time period, China will overtake Japan by 2016 and the U.S. by 2019 in dominating the global EV market.

“With only 2% of China’s population owning cars and 80% of sales in 2009 to first-time car buyers, China has the opportunity to create and lead an entirely new category around clean transportation,” said Dan Cohen, Vice President of Strategic Initiatives for Better Place. “With the scale of Chery’s design and manufacturing capability and an industrial policy that favors EV over ICE, we believe China represents an unprecedented opportunity for Better Place. Our collaboration with Chery is just the beginning for Better Place in China.”

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