On the evening of February 18, Changan Automobile (stock code:000625) and Keliyuan (stock code: 600478) issued an announcement on the signing of the “Capital Increase and Share Expansion Framework Agreement” for the investment of Keliyuan Hybrid Power Technology Co., Ltd. The announcement shows that Chongqing Changan Automobile intends to sign the Capital Increase and Share Framework Agreement with Zhejiang Geely Group, Hunan Keliyuan and Kunming Yunnei Power to invest in Keliyuan Hybrid Power Technology Co., Ltd. (hereinafter referred to as “CHS Company”). 》.

Although the move is only an ordinary cooperative capital increase, the industry believes that after more and more Chinese companies participate, China may break the monopoly of foreign-funded enterprises on hybrid technology. This will lead to a more pragmatic path for China's energy-saving and new energy vehicles and environmental protection.
CHS Company is a joint venture company of Keliyuan and Geely Group, which was incorporated on November 25, 2014. Geely Group transferred its shares to Shanghai Maple Automobile Co., Ltd. (hereinafter referred to as “Huapu”, Geely Group is CHS The controlling shareholder of the company's existing shareholder, Huapu).
At present, CHS has a set of fully independent intellectual property rights, including: hybrid electromechanical coupling drive system technology and hybrid powertrain systems such as power batteries, modules, and BMS technology.
In fact, as we all know, Toyota Motors has started to develop hybrid technology in the world in the 1990s, and it has an absolute patent monopoly and leading position in the core technology of this field.
Because the global car companies are not willing to pay expensive royalties to Toyota, it is also "working" for Toyota. Therefore, on the road of energy conservation and new energy, it can be said that “the Eight Immortals Cross the Sea”. European and American auto powers deepen the research and development of diesel engines, pure electric vehicles, small displacement turbochargers, plug-in hybrids, fuel cells and other technologies, all want to bypass the barriers set up by Toyota. Except for Japan, countries around the world have not included hybrid power in new energy vehicles or major subsidies.
However, the actual effects of other technology paths do not seem to be good. According to the normal car technology development path, it should be traditional fuel, hybrid, and plug-in hybrid, pure electric and fuel cells. In fact, earlier, the “863 Program”, a major Chinese science and technology project led by the Chinese government, and enterprises and universities, planned to let Chinese auto companies develop hybrid technology, but eventually they were “strongly mixed” with Toyota. It’s a long way off.
However, in November last year, Keliyuan issued a notice on the identification of the "CHS Automotive Hybrid System" through scientific and technological achievements. The announcement shows that the Geely MR7184HEV hybrid electric vehicle equipped with the hybrid system has a fuel consumption of 4.9L per 100 kilometers. Meet the national V standard.
On the other hand, CHS has built the production line of this product, formed a corresponding parts supply system, established a quality control system, and formed a batch production capacity.
Although this data is still far from the next-generation hybrid vehicles promoted by Toyota in China, such as Corolla and Ralink, it has been greatly reduced. It is worth noting that Keli is also a component supplier for hybrid vehicles manufactured by Toyota's two joint ventures in China.
Zhang Wei, deputy general manager and chief technology officer of Keliyuan Hybrid Technology Co., Ltd., said that the hybrid power and battery technology developed by the company has been recognized by the state;
But he also hopes that this technology platform is open, and that Chinese car companies and consumers can enjoy the real benefits of this technology. "We can talk about what kind of cooperation."
In 2015, Keliyuan announced that its subsidiary CHS obtained “industry support funds totaling 100 million yuan.” It can only cooperate with Geely. Even if the subsidy is 100 million yuan, it may be difficult for CHS to recover the cost. Zhang Wei’s self-confidence comes from the country’s increasingly stringent average fuel consumption limit. By 2020, this standard will drop to 5L per 100 kilometers. By then, the CHS hybrid system may reach about 4L.
According to the wishes of Changan and Geely, it is now necessary to build a national-level hybrid powertrain system technology platform to support the technological breakthrough and progress of the Chinese automotive industry and play a synergistic role.
Not only that, CHS has reduced its unit production cost and R&D cost through modularization, standardization and mass procurement after this capital increase, which can improve product competitiveness.
Two flowers are blossomed, one for each table. Although China is currently pushing pure electric vehicles, it may be recognized by hundreds of millions of Chinese consumers, just as Chinese companies will promote hybrid technology and R&D commercialization.

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