On 7 March 2018, CRRC Times Electric has signed a Memorandum of Understanding with Techrules in Geneva, Switzerland, to start a cooperation in the field of new energy vehicles, leveraging the respective advantages of both parties. The agreement was completed at a signing ceremony held during the Geneva Motor Show. Given to our industry-leading independent research capacity and with critical core technologies of traction electric driving and network control, we are now applying electric-drive technology that is originally pioneered for rail transit into the area of new energy vehicles and other forms of mass transport. A focus will be on synergies between TEC's Autonomous Rail Rapid Transit (ART) transportation system and Techrules' proprietary Turbine-Recharging Electric Vehicle (TREV) technology, aiming for fuel efficiency and an effective environmental impact.