Thread Content
Geely’s Methanol Vehicles Partner with Newao Clean Energy Author/Source: Modern Coal Chemical Industry Date: 2020-07-01 Clicks: 6 A few days ago, Geely Commercial Vehicles and Newao Co., a subsidiary of Newao Group, signed a cooperation agreement; the two parties announced the establishment of a strategic partnership aimed at jointly developing and promoting new clean energy technologies, as well as building an industry chain for methanol-based clean energy. The scope of this collaboration covers various aspects of methanol fuel technology and its application in commercial vehicles. Geely will purchase methanol raw materials from Newao Co., Ltd., which will initially be used in its commercial vehicle model – the M100 methanol heavy truck tractor – that has been on the market for one year. According to Geely’s plans, 1,000 methanol-powered trucks are to be sold in 2020, with the goal of reaching 20,000 units by 2024. Under this agreement, under equal conditions, both parties will give priority to each other in providing cooperation opportunities for all aspects of the methanol M100 industry ； Newao Co., Ltd. has become Geely’s strategic supplier for methanol fuel across the country, as well as the exclusive supplier in the Ordos region ； Geely will give priority to Newao for the construction of refueling, storage, and transportation facilities ； New Ao acts as an agent to sell methanol vehicles at the most favorable prices, and establishes a demonstration fleet. Furthermore, the two parties will jointly develop additives for M100 methanol fuel, and work together on the **formulation of standards for M100 methanol fuel and its additives. The cooperation also includes other aspects.