China’s e-bike powerhouse Bafang Electric has just invested in a new subsidiary in its hometown of Suzhou to ensure timely delivery and compatibility of battery packs with Bafang’s products. As a result, the company’s board of directors has decided to establish its third wholly-owned subsidiary, Bafang New Energy (Suzhou) Co. (the company name is subject to approval by the relevant industrial and commercial registration authorities), in the Suzhou Industrial Park Suxiang Cooperation Zone (a.k.a. Suxiang Cooperation Zone), in the northern part of Suzhou. According to the company, the investment amounts to RMB 200 million (approx. €25.6m-$30.9m).
Bafang New Energy will serve as the R&D and production base for Bafang’s lithium-ion battery packs. These products, along with motors, controllers and instruments, make up the complete e-bike drive system package offered by the company. According to Bafang, bicycle customers will then be able to experience an even more effective “one-stop” buying experience. “The new subsidiary will optimize Bafang’s organizational and business structure, clarify business areas, and improve Bafang’s operational efficiency and comprehensive strengths,” Bafang headquarters said.
