Hua Yu Automobile Holding Company established Power Technology Development Company.

According to the QiChaCha app, recently, Qingtao Power Technology Development Co., Ltd. was established, with Chen Kai as the legal representative and a registered capital of 100 million yuan. Its business scope includes research and development of emerging energy technology, automotive components, new materials technology, battery manufacturing, and battery sales. Shareholding structure investigation on QiChaCha shows that the company is wholly owned by Qingtao Power Technology Co., Ltd., which is jointly owned by Qingtao Energy Development Group Co., Ltd. and Huayu Automotive.