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AUTOMOTIVE & TRANSPORTATION | Automobile Manufacturing
yuanchina.com

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Stage

IPO | IPO

Total Raised

$34.63M

Date of IPO

6/15/2016

About Sokon Industry Group

Manufacturer and distributor of automotive and parts. The company produces mini trucks, mini-buses, multi-purpose vehicles, engines, and other components. It has production bases in Hubei and Chongqing provinces in China.

Sokon Industry Group Headquarter Location

Block A, Jingkou Industrial Park Shapingba District

Chongqing, Chongqing, 400033,

China

86 23 89095530

Latest Sokon Industry Group News

Sokon’s NEV Unit to Buy 50 GWh of Batteries From CATL Over Next Five Years

Sep 13, 2021

(Yicai Global) Sept. 13 -- The new energy vehicle arm of Sokon Industry Group has agreed to purchase 10-gigawatt hours of electric car batteries a year from battery making giant Contemporary Amperex Technology over the next five years to ensure stable supply, the Chinese auto manufacturer said on Sept. 11. Chongqing Jinkang New Energy Automobile can adjust the order at least six months in advance, otherwise the default amount is 10 GWh a year, according to the deal signed between the two parties on Sept. 9. Penalties will be paid by either side if they fail to meet the agreement. No details were given about pricing. The size of the purchase order indicates that Chongqing-based Jinkang might be planning a significant hike in production, an industry analyst said. Ten GWh is enough to supply 200,000 electric cars with batteries, yet so far this year Jinkang has only sold 21,736 units. The firm’s latest model the Seres SF5, that debuted at the Shanghai Auto Show in April, has only shifted 2,087 units since then, well below the sales of other EV startups. Sokon Industry’s share price [SHA:601127] closed up 0.99 percent at CNY75.71 (USD11.73). The stock has more than quadrupled in value since the start of the year due to a sales partnership with tech giant Huawei Technologies and stronger NEV demand. Editor: Kim Taylor

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