China and the U.K. are teaming up to work towards producing zero-emission automobiles. The deals were a key part of the 40 billion pounds ($61.6 billion ) in deals that Chinese President Xi Jinping is signing on his state visit to the U.K.
Aston Martin, which is known for making the DB5 sports car driven by James Bond, signed a 50-million-pound ($76.9 billion) deal with China Equity, which makes venture capital and private equity investments, to develop its electric Rapide S sports car.
Meanwhile, Chinese automaker Geely, which owns the London Taxi Company, is investing 50 million pounds ($76.9 billion) to enhance its research capabilities and launch a new fleet of zero-emission-capable black cabs. The announcements came on the second day of President Xi Jinping’s official visit to Britain on Wednesday. Sajid Javid, U.K. Secretary of State for Business, Innovation and Skills praised the developments.
“This is a perfect example of how U.K.-China collaboration not only promotes investment but also makes a difference to the lives of ordinary people,” he said. “It is another reason why China remains one of our most important international partners.”
Earlier on Wednesday, the Duke and Duchess of Cambridge accompanied President Xi and his wife Peng Liyuan to visit the Lancaster House to meet a range of Chinese and U.K. companies working together in the creative industry. A black cab, a London red bus and an Ashton Martin sports car were all on display at the Lancaster House.
Story from CCTV News