Ningbo in East China's Zhejiang province and BYD sign strategic cooperation agreement on Aug 2. [Photo by Wang Peng]

Ningbo signed a strategic cooperation agreement with BYD, the world's largest manufacturer of electric vehicles on Aug 2, to collaborate in building the city into a new energy equipment base in China.

The two sides agreed to jointly develop the existing production base of new energy vehicles in Fenghua district while seeking new paths to further expand cooperation. The strategic cooperation will be conducted based on Ningbo's and BYD's advantages in different fields, according to the signing ceremony on Thursday.

Furthermore, agreements on a group of projects involving new energy buses, forklifts, and a driverless straddle-type monorail system were inked on the same day. BYD plans to build a headquarters base for its new energy forklifts business in Ningbo.

Wang Chuanfu, chairman of BYD introduced the company's latest research findings and development plans, pledging they will endeavor to build the new energy equipment base as quickly as possible.

Zheng Zhajie, Party secretary of Ningbo, extended his hope that the two sides will develop more industries with potential together and achieve more win-win results from their friendly relations.

Ningbo officials talk with representatives from BYD on future cooperation on Aug 2. [Photo by Wang Peng]