Hanergy Holding Group Ltd launches full-solar power vehicles at the company's new product release event in Beijing on July 2, 2016. (Photo provided to China Daily)
Thin-film power giant Hanergy Holding Group Ltd introduced four full-solar power vehicles in Beijing on Saturday, in a bid to expand its business scope and enter the country's promising new-energy vehicle industry.
The move took place around a year after its listed subsidiary was suspended from trading in the Hong Kong bourse.
Hanergy Thin Film Power Group Ltd, the subsidiary of Hanergy Holding, has been suspended from trading by the Hong Kong Securities Regulatory Commission since July 2015.
On May 20, Hanergy Thin Film Power experienced a 47 percent plunge in one day.
"Thanks to short sellers, Hanergy has overcome the most difficult times", said Li Hejun, board chairman and CEO of Hanergy.
"The full-solar power vehicles making their debut showcase the latest achievements of Hanergy's mobile energy strategy, which will be a new beginning for Hanergy," he said.
The Beijing-based company said the four vehicles are the first full thin-film solar power vehicles that can be commercialized.
Hanergy also signed a framework agreement on Saturday with Beiqi Foton Motor Co Ltd for cooperation in developing clean-energy buses.
Gao Weimin, vice-president of Hanergy Holding and CEO of its solar vehicle business division, said with five to six hours of sunlight, the thin-film solar cells on the four models, which cover 3.5 to 7.5 square meters, are able to generate eight to 10 kilowatt-hours of power per day, allowing them to travel around 80 kilometers, which satisfies the need to drive in a city under normal circumstances.
The models are expected to reach the market in two or three years, Gao said.
"It (Hanergy) is a very good storyteller. This leaves a great deal to the imagination," said Zhang Yu, managing director of Automotive Foresight Co.
According to Zhang, it takes automakers at least four to five years to bring a concept car to launch. As for the new technologies involved in such solar powered cars, it would take much more than five years.
The effective roof area of passenger cars is less than two square meters, which would fail to generate enough power to meet the 40-kilometer daily range of Hanergy's solar-powered cars, said Zhang, who was negative about the prospects for partnership between Hanergy and passenger carmakers.
