EasyCar News On August 27, RISO signed an investment agreement with Mianyang New Morning Power Machinery Co. to set up a joint venture company called Sichuan RISO New Morning Technology Co. The new joint venture will develop and manufacture a new generation of range extenders for Ideal Auto.
Shen Yannan, co-founder and president of Ideal Automobile, said, "In the medium to long term, we believe that intelligent range extender EVs will be a very good choice to replace fuel vehicles. The intelligent programmable EV technology route will also be one of Ideal Auto's strategic core development directions. The joint venture will rely on the R&D and production capacity of both parties to provide Ideal Auto with high-quality products and expand the market share of intelligent programmable EVs in China."
Currently, Ideal Motors is developing the X platform, which inherits the existing supercharged EV platform and is equipped with a next-generation supercharged electric powertrain. It is expected to be the first to feature the new generation of range extenders produced by the joint venture on new full-size smart luxury electric SUVs by 2022.