On March 2, 2010, Zhuzhou CSR Times Electric Co., Ltd. ( abbreviated as CSR ) signed an agreement with Liaoning SG Automotive Group Co., Ltd. ( abbreviated as SG ) to enter into a comprehensive technology partnership of new energy vehicles. Under the agreement, CSR and SG will cooperate to build China's largest industrial base of new energy vehicles to meet the requirements of the Chinese market.

The new company will build a production line with yearly capacity of 10,000 new energy vehicles and 20,000 Motor Drive System within two years. In addition, SG Automotive Group will bring the pickup and axle production technology into Zhuzhou CSR Times Electric Co., Ltd..

" Under the technology partnership, we have created a win-win business model with complimentary competences." said Mr. Ding Rong-jun, Chairman and President of Zhuzhou CSR Times Electric Co., Ltd..

Mr. Li jindian, Chairman and President of Liaoning SG Automotive Group Co., Ltd. said, " The cooperation will lead us in the development of advanced battery technology. We believe we will become the leading supplier of new energy buses system in China. "