The acquisition is expected to cost tens of millions of dollars, although official figures will not be released
Toyota has licensed its EQ microchip project to the Chinese startup of electric vehicles of the Singolato. This news should be confirmed and announced at the Shanghai motor show. According to initial information, the automotive company will receive the first rights to purchase future green-car credits.
As for the cost of acquiring the license, according to a source from Singulato, there is the talk of several tens of millions of dollars, even if official figures are not expected to be released. Probably because the company is currently focused and ready to present a new concept car, based on Toyota’s EQ.
The startup founded in 2014 will debut its first electric car
According to Shen Haiyin, CEO of Singulato, the agreement shows that the company has the credentials to compete at the highest levels in the sector.
Founded in 2014, the startup will soon debut its first home-developed electric car, thus moving into a flocking market. The number of EV producers has, in fact, tripled to 486 in the last two years.
At the same time, sales of electric cars should reach 1.6 million units in 2019.
MORE ON THIS TOPIC