The Chongqing Hong Kong and Taiwan Electric Auto alliance was launched on Oct 29 in Chongqing, the Chongqing Daily reported.

The alliance was initiated by industry companies and research institutes in the three areas with the aim of increasing innovation and manufacturing capacity of electric automobiles.

So far, more than 40 companies involved in the design, research and manufacturing of the new energy automobiles have joined the alliance.

For example, the Chongqing Productivity Center, Chongqing Changan New Energy Automobile Co., Ltd, Chongqing Sokon group and the Hong Kong Productivity Council have all joined in the alliance.

The alliance will also work on electric auto policies and technology exchanges. “We will focus on the areas of energy conservation, environmental protection, and security, and will integrate resources from government, companies and higher educational institutes,” said a representative of the alliance.

Thanks to this alliance, companies and research institutions will be able to increase mutual understanding, share resources and cooperate in product development. The alliance is also expected to reduce manufacturing costs and accelerate integration of the car and parts industries.