In August 2014, CORUN PEVE Automotive Battery Co., Ltd. was approved for establishment. It was jointly invested by Hunan CORUN New Energy Co., Ltd., Primearth EV Energy Co., Ltd. (Japan), Changshu New Zhongyuan Venture Investment Co., Ltd., Toyota Motor (China) Investment Co., Ltd., and Toyota Tsusho Corporation with a total investment amount of 32.62 billion yen and a registered capital of 21.54 billion yen, in which CORUN holds a 40% stake. The main products of the company are automotive nickel-metal hydride battery modules and module groups, which are widely supplied to automobile manufacturers and system suppliers, contributing to the promotion of environmentally friendly vehicles and energy conservation in China.