Torvec, Inc. Signs Development Agreement with Chinese Automaker
January 28, 2013
BAIC Motor Co., Ltd. operates as a subsidiary of Beijing Automotive Industry Holding Co., Ltd, the fifth-largest carmaker in China in terms of sales. BAIC Motor Co., Ltd manufactures passenger cars and off-road vehicles for the Chinese market. Its parent company, Beijing Automotive Industry Holding Co., Ltd. has made successful joint venture partnerships with Hyundai Motor and Daimler AG.
Under the agreement, BAIC will furnish Torvec with specifications, drawings, differential housings and will pay Torvec to manufacture prototype IsoTorques for a specific vehicle application.
Keith Gleasman, Vice President of Marketing, stated: “This is a great opportunity for Torvec to work with an established auto manufacture in the world’s largest automotive market. It is also a great opportunity for BAIC to adopt this outstanding technology.”
