Chery and B-ON form joint venture for electric vehicles in Europe and North America

B-ON and China’s Chery announced Tuesday the creation of a joint venture that allows the European electric car maker to acquire Chery’s financing, supply chain and industrial footprint, while giving the state-backed Chinese company access to the European and American markets. .

The two companies on Tuesday unveiled their first jointly developed vehicle, the Pelkan, which will begin deliveries to customers in Europe in mid-2024.

The Pelkan will offer a payload of up to 1,350 kilograms (1.49 tons) and will be available in two battery versions of 43 and 54 kilowatt hours offering a range of 226 kilometers (140 miles) or 279 kilometers.

Chery is an investor in B-ON and will provide working capital to help finance the venture.

“Innovative and agile companies like B-ON are in a unique position to supply the young and growing commercial vehicle market in their local geographies, but lack the production base needed to meet the needs of the mass market,” said Yin Tongyue, chairman of Chery’s board of directors. , it said in a statement. “Our partnership constitutes a complete union.”