Chinese billionaire Li Hejun, chairman of solar-equipment manufacturer Hanergy Holding, is expanding his business into the auto sector.
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Hanergy will launch five models of solar-powered cars in October, according to a post on the company’s website. The models can run up to 100 km after four hours of charging, according to the statement.
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“Hanergy is working with three foreign partners and two domestic firms to develop solar-powered vehicles,” the firm says in the statement. “The market potential is huge.”
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The company is also partnering with Tesla Motors in building a “supercharger network.” Hanergy in April delivered two photovoltaic charging stations for the Palo Alto, California-based electric car firm, as Elon Musk continues to invest in charging stations in China.