The fifth new energy license officially fell to Jiangsu Min'an

On November 21, the official website of the National Development and Reform Commission officially issued the “Reply on the Approval of the Construction Project of Pure Electric Passenger Vehicles of Jiangsu Min'an Electric Vehicle Co., Ltd.”. According to the regulations of "Automobile Industry Development Policy" and "New Pure Electric Passenger Vehicle Enterprise Management Regulations", it agreed to the construction of pure electric passenger vehicles of Jiangsu Min'an Electric Vehicle Co., Ltd. At this point, Jiangsu Min'an officially became the fifth company to obtain the qualification of a new pure electric passenger car after Beiqi New Energy , Changjiang Automobile, Great Wall Huaguan and Chery New Energy.

Jiangsu Min'an, pure electric passenger car project, fifth, new energy license

According to the approval, the construction site of Jiangsu Min'an Pure Electric Passenger Vehicle Project is Huai'an Economic and Technological Development Zone in Huai'an City, Jiangsu Province. The construction scale is 50,000 units of pure electric passenger vehicles after production. The main construction contents include new stamping workshop, welding shop, painting workshop, assembly shop, battery pack assembly workshop, trial workshop, R&D department, public power and office facilities, etc., and new related production process equipment.

The total investment of the project is 250.055 million yuan, including construction investment of 128.405 million yuan and initial working capital of 121.65 million yuan. The project capital is US$130 million (approximately 86.671 million yuan), and the project capital accounted for approximately 34% of the total project investment. The shareholder composition and capital contribution ratio of the project is that the Chinese investor Huai'an Development Holdings Co., Ltd. will invest US$65 million in cash, accounting for 50% of the project capital; the foreign investor's exhibition (China) Investment Co., Ltd. will be in cash. It invested US$65 million and accounted for 50% of the project capital. The operating period is 50 years. The difference between the total investment and the project capital is about 163.384 million yuan, which is solved through financing.

It is understood that Jiangsu Min'an Electric Vehicle Co., Ltd. was established by Hong Kong Exhibition (China) Investment Co., Ltd. and Jiangsu Huai'an Development Holdings Co., Ltd., and Hong Kong Exhibition (China) Investment Co., Ltd. was established by Minth Group. The Minth Group is a foreign-invested group company that specializes in the design, production and sale of auto parts . It was listed on the Hong Kong Main Board on December 1, 2005. Since its inception, Minth has established more than 20 production plants, two technology centers and two mold factories in China. The total number of serviced vehicle companies covers 80% of the global market.

According to the industrial and commercial registration information, Jiangsu Min'an Electric Vehicle Co., Ltd. is a Sino-foreign joint venture officially registered in Jiangsu Huai'an Administration for Industry and Commerce on February 15, 2015, with a registered capital of 33 million US dollars, just September 22, 2016. Approved, the business scope is to prepare pure electric (including extended program) automobile production projects, including, research and development of new energy vehicles, auto parts research and development, and auto parts wholesale. At the same time, according to the official website of Min'an Automobile, the electric vehicle project team was established as early as August 2010. In 2011, the electric vehicle project was officially settled in Huai'an, Jiangsu Province. In the same year, the first self-developed power prototype was completed. After getting the qualification, Min's first car is scheduled to go offline in 2018.

The original announcement is as follows:

Reply of the National Development and Reform Commission on the approval of the construction project of pure electric passenger vehicles of Jiangsu Min'an Electric Vehicle Co., Ltd.

Development and Reform Industry [2016] 2407

Jiangsu Provincial Development and Reform Commission:

You are entrusted with the "Request for the Report on the Construction of Pure Electric Passenger Vehicles of Jiangsu Min'an Electric Vehicle Co., Ltd." (Sufa Reform Industrial Development [2016] No. 920) and related materials. After research, the approval of the project is now approved as follows:

First, in order to promote the development of the new energy automobile industry, in accordance with the provisions of the "Automobile Industry Development Policy" and "Management Regulations for New Pure Electric Passenger Vehicle Enterprises", it is agreed to the construction project of pure electric passenger vehicles of Jiangsu Min'an Electric Vehicle Co., Ltd.

The project unit is Jiangsu Min'an Electric Vehicle Co., Ltd.

2. The project construction site is Huai'an Economic and Technological Development Zone, Huai'an City, Jiangsu Province.

Third, the project construction scale will form a production capacity of 50,000 pure electric passenger vehicles after the production. The main construction contents of the project include new stamping workshop, welding shop, painting workshop, assembly shop, battery pack assembly workshop, trial workshop, R&D department, public power and office facilities, etc., and related production equipment.

4. The total investment of the project is 250.055 million yuan, including construction investment of 128.405 million yuan and initial working capital of 121.65 million yuan.

The project capital is US$130 million (approximately 86.671 million yuan), and the project capital accounted for approximately 34% of the total project investment. The shareholder composition and capital contribution ratio of the project is that the Chinese investor Huai'an Development Holdings Co., Ltd. will invest US$65 million in cash, accounting for 50% of the project capital; the foreign investor's exhibition (China) Investment Co., Ltd. will be in cash. It invested US$65 million and accounted for 50% of the project capital. The operating period is 50 years. The difference between the total investment and the project capital is about 163.384 million yuan, which is solved through financing.

5. According to the Law of the People's Republic of China on Energy Conservation, the project unit shall complete the evaluation and approval according to relevant regulations before the start of construction.

6. During the project implementation process, equipment procurement shall be carried out in accordance with relevant laws and regulations on bidding.

7. The relevant documents of the approved project are the reply of the Ministry of Land and Resources on the pre-inspection opinions on the construction land of pure electric passenger vehicles of Jiangsu Min'an Electric Vehicle Co., Ltd. (Guo Tu Capital Pre-examination [2015] No. 259), Jiangsu Province Environment The Protection Department's reply on the environmental impact report of Jiangsu Min'an Electric Vehicle Co., Ltd. pure electric passenger vehicle construction project (changing Jiangsu Min'an electric vehicle production project) (Suhuan [2015] No. 136).

8. If it is necessary to adjust the relevant content as stipulated in the approval document of this project, please submit an application for adjustment to the Commission in writing in accordance with the relevant provisions of the Measures for the Administration of Approval and Filing of Foreign Investment Projects. , issue a written confirmation or re-apply for approval.

9. Jiangsu Min'an Electric Vehicle Co., Ltd. is a pure electric passenger car manufacturer and cannot produce any automobile products driven by internal combustion engines.

X. This approval document shall be valid for 2 years from the date of issuance. If the construction is not started within the validity period of the approval document, the project unit shall apply to the committee for extension after 30 working days before the expiration of the validity period of the approval document. If the project fails to start construction within the validity period of the approval document and fails to apply for extension according to the regulations, or if the application for extension is submitted but has not been approved, the approval document will automatically become invalid.

National Development and Reform Commission

November 14, 2016

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