Ideal and Xinwang have established a joint venture company, with "Ideal" brand batteries expected to be launched next year.

The ideal car and battery manufacturer Xingwangda will establish a joint venture company with a capital ratio of 50:50. Currently, the joint venture company has been publicly announced in the Shanghai Market Supervision Administration. According to the announcement, the two joint venture entities are Beijing Ideal Automobile Co., Ltd. and Xingwangda Power Technology Co., Ltd., and the joint venture will mainly engage in the production, manufacturing, and sales of lithium-ion power batteries for electric vehicles. The joint venture company is registered as Shandong Ideal Automobile Battery Co., Ltd., and will be used to produce Ideal's self-developed power battery products. "Next year, Ideal's self-developed power products will be on the market." Insiders said that the battery project created by Ideal and Ningde Times is called joint development within Ideal; in cooperation with Xingwangda, Ideal has carried out lead design in terms of battery products, processes, and materials, which is called self-developed battery within Ideal.