Miraco Motor, a commercial-vehicle unit of China's state-owned Guangzhou Automobile Group (HKG:2238, SHA:601238), plans to launch its first electric van in Europe next year and is targeting a 10% market share, the South China Morning Post reported Saturday.
The company sees a strong competitive advantage for electric commercial vehicles due to lower electricity costs compared to petrol, the report said, citing Miraco CEO Xiao Ning.
Miraco's vans can travel up to 350 kilometres on a single charge, and the company plans to equip them with autonomous driving systems for potential entry into the global robotaxi sector, the report added.
Miraco has partnered with Flynt, a European electric van developer, to co-design vehicles that Miraco will manufacture while Flynt handles sales and after-sales service, the SCMP said.
The company's first production model, a minibus, is expected to launch in Hong Kong later this year, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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