Ideal Car and Xinwang have founded Shandong Battery Company.

Beijing Ideal Automotive Co., Ltd. and battery manufacturer Xinwanda Power Technology Co., Ltd. have jointly established a joint venture company - Shandong Ideal Automotive Battery Co., Ltd., with each holding 50% of the shares. It is reported that the joint venture company has completed the record filing with the Shanghai Market Supervision and Administration Bureau, and will mainly engage in the production, manufacturing, and sales of lithium-ion power batteries for electric vehicles.