On August 31, 2012, ALTePowertrain Technologies , an American hybrid system startup, announced that it is raising 200 million U.S. dollars to establish a joint venture in China to gain a place in the world's largest auto market. This move puts the Michigan-based company in an increasingly large group of American companies that are venture capital-backed and involved in the Chinese market in alternative fuel vehicles. The US government encourages the development of related industries and purchases Consumers of electric cars and hybrid cars provide subsidies. Lithium-ion battery manufacturers such as A123 Systems and Boston-Power have already taken action. In early 2012, nickel-zinc battery maker PowerGenix also announced that it will establish a joint venture with China City Construction Development Co., Ltd. However, John Thomas, Chief Executive Officer of ALTe, said that looking for opportunities in China meant that the company delayed its product launch plan in the US market by one year. The revised plan is that Alte will launch a full electric power system before the second quarter of 2013 and introduce a hybrid electric power system before the fourth quarter of the same year. An important reason for delaying product launches is that unless ALTe already has the capability to mass produce power systems, potential customers are not willing to place orders. On the other hand, Alte wants to get a purchase order so that the company can raise funds and start production. “The current development is that the Chinese realize that the market is ready.†Thomas said, “When you are producing as an automobile company, achieving good profit margins is challenging because the profit rate depends on the scale of production. ." The company name ALTe is a combination of "alternative" and "energy". The company signed an agreement with MESA CenturyNewEnergyTechnology to create a joint venture. Thomas said that they plan to establish four factories that produce hybrid electric power systems, and if necessary, they may also produce full-power power systems. On August 26, Thomas flew to Beijing to prepare for the signing ceremony on the 31st. Mesa Century Corporation is a newly established investment group that is made up of Chinese institutions and individual investors. The joint venture will be named Mesa Industrial Technology Corp. and its powertrain products will be used for buses, special trucks and trucks that carry 40-50 passengers, such as garbage collection vehicles, which ALTe will hold. One-third of the company’s equity. The joint venture will set up factories in phases and will soon start construction. According to the plan, the first factory will be completed and put into operation within 12 months. Thomas said that there will be a new factory built every 3 months until the completion of the planned plant construction. Together, the four factories will produce 240,000 power systems each year. China will become its preferred market, but this joint venture will also look for customers elsewhere, such as the United States. By refitting Ford F150 trucks and Ford E350 RVs for potential fleet customers, the startup company ALTe has demonstrated its powertrain technology. In terms of the Chinese market, Alte's joint venture plans to target the powertrain modification and new car market. GB/T China AC Single Gun EV Charger GB/T China Standard:AC EV Charger:Single Gun:Wall mounted/Pole mounted Gb/T Ev Charging Pile,Gb/T Car Charging Pile,Gb/T Home Charging Pile,Gb/T Charging Pile Guangdong Qingyuan Electric Co., Ltd. , https://www.qycharge.com