Bill Gates-backed EcoMotors to drive fuel efficiency and GHG reduction in China
New factory in Shanxi province, China, will make 100,000 engines annually from 2015 as China declares war on pollution
EcoMotors Inc, backed by Bill Gates and Khosla Ventures, have formed a partnership with FAW Jingye Engine Co that will develop, construct and sell EcoMotors’ engine technology.
The joint venture will see a new plant built in China and the engines will improve fuel efficiency and reduce greenhouse gas (GHG) emissions.
FAW Jingye will invest more than $200 million in the factory in Shanxi province, which will make 100,000 engines annually from 2015, according to a statement.
Officials in China have said they will “declare war” on pollution and are seeking to shut coal run power stations and phase out 6 million vehicles that don’t meet environmental standards.
The cities of Beijing and Shanghai have been severely affected by smog in recent months and the World Health Organization (WHO) has warned that pollution levels are dangerously high.
Amit Soman, EcoMotor’s president and chief operating officer, said in a statement: “For customers in China, it will ultimately provide access to affordable technology that will have a positive influence on the country’s transportation emissions.”
FAW Jingye will hold 51 per cent of the joint venture, with EcoMotors owning the rest.
FAW Jingye is a joint venture between state-backed FAW Jiefang Automotive Co and Beida New Energy Investment Fund Management Co, according to the statement.
