EV startup Bordrin to build first EV product at FAW subsidiary
Chinese electric vehicle startup Bordrin Motors will launch output of its first product, an electric crossover, at FAW Xiali Automobile in the north China port city of Tianjin before the end of the year.
The electric crossover, the iV6, will go on sale in the first quarter of next year.
Production of the vehicle will be carried out by a joint venture to be established between Bordrin and FAW Xiali, according to an agreement the two sides finalized last week.
The 2.54 billion-yuan ($356.7 million) partnership will be 80.1 percent owned by Bordrin.
FAW Xiali, a car subsidiary of state-owned Chinese automaker FAW Group, will hold the remaining 19.9 percent interest.
The Bordrin iV6, unveiled at the Shanghai auto show in April, has a range of more than 530 kilometers on one charge.