Changchun Yatai Holding, the holding company for the Yatai brand, and Chinese state-owned Sichuan Electric Power Corporation (SCEC) have signed a joint venture agreement to jointly develop the Yatai brand in China.

The joint venture will involve Changchun Yatai Holding as the sole shareholder and SCEC as its managing director, while the Yatai brand will be sold under the new name. The agreement also includes plans to build a new factory in Chengdu, where the brand will be produced.

SCEC has been investing heavily in renewable energy in recent years, with a focus on developing solar power plants. In addition to the Yatai brand, the company is also exploring opportunities in the electric vehicle (EV) market, which has seen significant growth in recent years.

The new joint venture will bring together two major players in the Chinese market, with both companies committed to investing in sustainable and innovative technologies. This partnership is likely to help the Yatai brand gain traction in the Chinese market and expand its global reach.