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Shanghai Ruihua Group of China Are Negotiating a Partnership

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Core Tip: Taipei, Nov. 20, 2012 (CENS)--To jointly tap the high-potential new-energy vehicle market in China, Shanghai Ruihua Group of China and Taiwan’s Formosa Lithi

Taipei, Nov. 20, 2012 (CENS)--To jointly tap the high-potential new-energy vehicle market in China, Shanghai Ruihua Group of China and Taiwan’s Formosa Lithium Iron Oxide Corp. (FLIC and formerly Formosa Energy & Material Technology Co.) are negotiating a partnership.

Shuai Hong-yuan, chairman and president of Ruihua Group, recently visited Taiwan to negotiate cooperation with Formosa Group, revealing that the group focuses on electric public transportation vehicles, but plans to develop the electric truck market in 2013 when the group`s electric-vehicle sales are expected to grow about 20%.

The new-energy industry is still a focal-point in China slated for special development in 2013, Shuai said, because China is taking the lead to develop electric vehicles, create demand for such vehicles, and such technologies. China is a major importer and consumer of crude oil, he said, so highly prioritizes developing the new-energy industry.

China has expanded the number of electric-vehicle trial-run cities from 10 to 25, and allows applications from all cities, making Shuai and Ruihua Group very optimistic about the future of electric vehicles and lithium-ion battery-related industries.

FLIC`s lithium-ion phosphorous oxide cathode materials feature high stability and low self-discharging, so Ruihua Group always recommends its electric-vehicle battery suppliers to purchase such material from the Taiwanese company, said Shuai.

In 2012, Ruihua delivered about 500 pure electric vehicles for public transport applications, and in 2013 is expected to ship some 600 units along with some 100 electric trucks.

Currently, FLIC operates a factory in central Taiwan with annual capacity of 4,800 tons. The firm began turning profitable in 2011, and is scheduled to invest more than NT$1 billion (US$30.3 million) for second-stage expansion.

 
 
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