Everlight has teamed up with Tianmu Solid State Lighting Technology Co., Ltd. to build a joint venture in mainland China for Jiangsu Province’s RMB6 billion procurement of LED streetlights.
According to Tianmu Solid State Lighting of Jiangsu, an LED-lighting startup founded two years ago, the joint venture calls for total investment of US$200 million, with US$30 million already put into construction of first-phase production lines, which will start volume production in June.
The joint venture plans to install 20,000 LED streetlights in the province, where the joint venture vows to shoot for a 50% market share by the end of 2012. The two companies also plan to co-found an LED lighting application center in the mainland.
