Alt Automobile Technology Co, Ltd, and Yazaki (China) Investment Co, Ltd, recently signed a cooperation agreement to invest and establish a joint venture company in Beijing E-Town.

In order to address global technological challenges such as energy efficiency and the driving range in new energy vehicles, the joint venture company will focus on the research and promotion of a high-voltage electrical system for new energy vehicles. This system serves as the "heart" of new energy vehicles, covering areas such as the power battery, drive components, charging and discharging components, and other high-voltage facets.

Alt Automobile Technology, as the first independently listed A-share automotive design company, possesses strong capabilities in new energy vehicle design and development, whole vehicle research and development, and system solutions. Yazaki's parent group is a globally leading automotive parts manufacturer, and has consistently been listed in the Fortune Global 500 for multiple years, with a 30 percent market share in wire harness products worldwide.

With the increasing global emphasis on new energy vehicles, the industry's demand for core technologies in high-voltage electrical systems has become more urgent. Through cooperation, the two sides are expected to acquire complementary advantages and jointly overcome the core technical challenges of high-voltage electrical systems in new energy vehicles.