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ECOtality to form manufacturing and sales joint ventures with Shenzhen Goch Investment

Posted on: Thu, 17 Sep 2009 15:09:00 EDT

Symbols: ETLY

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Sep 17, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
ETLY | Quote | Chart | News | PowerRating -- ECOtality, Inc., a US-based provider of clean electric transportation and storage technologies, has entered into agreements with Shenzhen Goch Investment, Ltd. (SGI), a China-based investment holding company focused on technology, financial services, and commercial property development and operation, to establish two joint venture companies in China.

SGI will invest $10 million in the first joint venture to manufacture and assemble electric vehicle charging equipment and $5 million in the second joint venture to market and sell these charging systems in China.

Deal Value (US$ Million) 15
Deal Type                Partnership
Sub-Category             Joint Venture
Deal Status              Announced: 2009-09-16

Deal Participants

Partner 1 (Company) ECOtality, Inc.
Partner 2 (Company) Shenzhen Goch Investment, Ltd.

Deal Rationale

The joint ventures with SGI would strengthen ECOtality's position in electric transportation and provide the required assets for its penetration into the Chinese market.

For full details on (ETLY) ETLY. (ETLY) has Short Term PowerRatings at TradingMarkets. Details on (ETLY) Short Term PowerRatings is available at This Link.

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