China's Wonder Auto Technology Enters Korean EV Market

Jinzhou Wonder Motor, has entered into a development agreement with Korean CT&T to design and manufacture electric motor and driver products for Korean CT&T's electric vehicles.

The products will range from 48Volt-4Kilowatt models to 120Volt-12Kilowatt units and will include both traction motors and in-wheel-motors.

According to the agreement, Jinzhou Motor will deliver the first sample of traction motors and drives — 72Volt, 7Kilowatt models — to Korean CT&T for road testing by the end of March 2009, while batch deliveries will begin from June 2009. Korean CT&T will purchase, as preferred items, all motor and drive products developed by Jinzhou Motor according to the agreement. The total value of the agreement is expected to be approximately USD330 million from 2010 to 2013.

Korean CT&T is a specialized manufacturer of electric vehicles categorized as e-zone — utility vehicles for country clubs — and c-zone — two- and four-seater family cars, sightseeing cars, golf-course carts, and EVs used by police patrols. Its main manufacturing facilities are located in Korea, China and Canada.

Wonder Auto has specialized in the research and development of core components for electric vehicles for several years. The Company founded Jinzhou Motor in early 2007, becoming one of the few suppliers of core components for new energy vehicles. The company has invested USD1.1 million in building up the capacity of Jinzhou Motor. By June 2009, the expected annual production capacity will be about 400,000 sets of electric motors and drives.

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