Wonder-CT&T Venture Rolls Out First Electric Car

Shanghai, March 24, 2009:(Gasgoo.com) Jinzhou Wonder Motor Co. Ltd, one of the subsidiaries of Wonder Auto Technology Inc, rolled out its first electric car on Monday at its joint venture plant with Korea electric car maker CT&T in the northeast China city of Jinzhou, reports Gasgoo.com.

The company announced at a launching ceremony on Monday that the first electric car unit, jointly developed with Korean CT&T for road testing, has rolled out of the production line as scheduled, with batch deliveries expected to begin from June 2009.

The car is a mini two-seater which has a range of 110 kilometers at single charge. The car's top speed is limited to 70 km/h and it is expected to be sold at around 40,000 yuan ($5,857).

Jinzhou Wonder and Korean CT&T entered into JV agreement last October to build a US$ 10 million electric plant, with an annual output of 50,000 vehicles in the initial stage. Jinzhou Wonder holds 51 percent of the JV and CT&T holds the other 49 percent.

Wonder Auto Technology Inc (Wonder Auto) is a leading Chinese manufacturer of automotive electrics, suspension products and engine accessories listed in NASDAQ. Its business operations include alternators, starters, and rods and shafts, most of which are used in domestic OEM market

CT&T is a manufacturer of golf carts and small electric cars, established in 2002 in Dangjin, South Korea. The small giant has production facilities in South Korea, Canada and China, according to the company Web site. It aims to manufacture 71,000 electric vehicles by 2010, with total revenue of 700 billion Won.

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