Liu Changlai, CEO of the Camel Group, a company that together with Rimac Automobili started building a factory for propulsion systems for electric vehicles, on Friday said that the group would in future intensify its cooperation with Rimac.

The company also confirmed that by the year’s end the jointly built company in the city of Xiangyang will have a capacity of producing 150,000 propulsion systems a year.

Liu Changlai confirmed the news of the intensified cooperation to Hina after a meeting in the Zagreb City Assembly where a memorandum of understanding between the cities of Zagreb and Xiangyang was signed.

The CEO was part of a senior delegation from that Chinese city on a visit to Zagreb.

The founder of Rimac Automobili Mate Rimac also attended the meeting.

In 2017 the Camel Group invested 30 million euro in Rimac Automobili and last year Camel and Rimac made a joint investment in Xiangyang for the construction of the local factory where propulsion systems will be manufactured for electric vehicles as well as motors and power inverters.

Liu underscored the strong support that Xiangyang city authorities provided during the construction of the factory which amounted to 10 million euro. The Camel Group invested 20 million euro and Rimac Automobili provided 5 million euro.

Camel’s CEO underscored that the company is the biggest manufacturer of batteries for electric vehicles in Asia and added that in future it would intensify its investments in Rimac Automobili.

Part of the factory that has a capacity of manufacturing 25,000 propulsion systems a year, has already been completed.