Guangzhou Automobile Group Co., which produces cars in China with Fiat Chrysler Automobiles NV, plans to start exporting its own brand of automobiles to the U.S next year and become the first Chinese carmaker to begin retail sales to American consumers. GAC, which created its Trumpchi brand in 2010 after being a production partner for foreign carmakers for more than a decade, will start a research and development center in Silicon Valley in the first half of this year to prepare for the company’s entry to the U.S., the company’s President Feng Xingya said.
Category: Guangdong, China
Does China Offer Plug Power a Path to Profitability?
Operating primarily in material handling equipment, Plug Power’s interest in the EV market represents a change in direction; however, management recognizes a significant opportunity. According to Andy Marsh, Plug Power’s CEO,”China has made hydrogen and fuel cell vehicles a key component of the country’s Energy Revolution Program, which includes over $100 billion in investment and runs through 2030.”