Shanghai e-Gle New Energy Automotive Co., Ltd., a subsidiary of e-Gle Co., Ltd., and Xiangyang CRRC Electric Machinery Co., Ltd. announced on June 21, 2019, in ZhuZhou, Hunan Province, China, that they concluded a partnership agreement with the aim of driving the new-energy automobile industry forward as global leaders by providing advanced power solutions. Initially, the companies will begin with the project of producing and selling in-wheel motors to automakers. (Image1: https://kyodonewsprwire.jp/prwfile/release/M105585/201906267946/_prw_PI1fl_kRPUN4G7.jpg) (Image2: https://kyodonewsprwire.jp/prwfile/release/M105585/201906267946/_prw_PI2lg_aJ32DL3H.jpg) Xiangyang CRRC Electric Machinery Co., Ltd., CRRC Group Corporation's subsidiary specializing in electric motors, decided to partner with e-Gle, known in the world as a pioneer with advanced technical capabilities in the development of electric vehicles (EVs), as it intends to quickly acquire a top market share by taking advantage of CRRC Group's overwhelming name recognition, creditworthiness and supply chain. The in-wheel motor system is based on the technology to equip each driving wheel with a motor inside and directly control the body of a vehicle, and e-Gle has state-of-the-art technology for the system. The companies will aim to start producing in-wheel motors in 2020 and go into full operation in 2021. China has already become the world's largest EV market as it has been actively promoting EVs with subsidies for carmakers and consumers, among other policy measures. About Xiangyang CRRC Electric Machinery Co., Ltd.: It is the world's largest railway car manufacturer CRRC Group's subsidiary specializing in the production of electric motors. It is based in ZhuZhou, Hunan Province, China. About Shanghai e-Gle New Energy Automotive Co., Ltd.: It is a subsidiary of e-Gle Co., Ltd. (based in Kawasaki, Kanagawa Prefecture, Japan; headed by President Hiroshi Shimizu), which is engaged in the development of EVs. Source: e-Gle Co., Ltd.