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Industry Milestone! State Power Investment Corporation (SPIC) Officially Invests in JGM
2026-09-22
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Recently, SPIC Industrial Capital officially signed an equity investment agreement with Fujian JGM Technology Co., Ltd. ("JGM"), acquiring a 30% stake to become the company's second-largest shareholder. This marks JGM as a crucial component in SPIC's comprehensive new energy industry chain layout. State Power Investment Corporation Limited ("SPIC"), formed through the restructuring of the former China Power Investment Corporation and State Nuclear Power Technology Corporation, is a large state-owned key backbone enterprise directly managed by the central government. As one of China's top five power generation groups, it ranks first globally in installed capacity of new energy sources such as photovoltaics and wind power.
As of January 2023, SPIC boasted total assets of RMB 1.6 trillion, an installed power capacity of 212 million kilowatts, with total clean energy installed capacity reaching 140 million kilowatts, accounting for 66%. As the first central power enterprise to announce its carbon peak timeline (2023), SPIC maintains a leading position in the proportion of clean energy on the power generation side while building a green electricity transportation ecosystem on the consumption side.
Construction machinery, being a significant energy consumer, holds considerable market potential and promising development trends through electrification. Although this sector started relatively late, it has garnered substantial capital attention and recognition since the large-scale development of the new energy construction machinery industry began in 2021. SPIC's investment in JGM will help SPIC further its industrial planning on the equipment consumption side, particularly within the new energy construction machinery energy usage sector, and further perfect its integrated "power generation-transmission-storage-consumption" industrial chain.
JGM’s Research Institute brings together some of the earliest outstanding talents in the electrification of construction machinery and commercial vehicles, both domestically and internationally. It possesses the technical and professional capabilities necessary for industrializing new energy construction machinery, including complete machine design, three-electric system integration (battery, motor, electronic control), software control, advanced electric drive architectures, electric drive hydraulics, high-end chassis, integrated charging/swapping technology, and intelligent connectivity. This drives the company's continuous progress. Through in-depth research into core technologies in the fields of electric drive travel and electric drive operations for construction machinery, it has designed series of traveling powertrains and electric drive hydraulic assemblies covering power ranges from 15kW to 500kW, and has applied for over forty patents, providing robust support for new product development and maintaining technological leadership. It also conducts deep industry-university-research cooperation with institutions like the Haixi Institutes of the Chinese Academy of Sciences, Jilin University, Xiamen University, Central South University, and other renowned universities with relevant academic disciplines, establishing new research application and talent cultivation platforms to provide strong intellectual support for the company's development.
Our products leverage core technologies such as application-specific software algorithms and vehicle control strategies, matched with the industry's first proprietary new energy construction machinery-dedicated vehicle control unit, which holds independent intellectual property rights. Equipped with the patented "high-speed motor + dedicated gearbox" high-speed direct-drive powertrain, the products significantly reduce size and weight while improving overall vehicle efficiency. This achieves excellent vehicle performance, including extended range and abundant power, widely recognized in the market and by clients. Currently, JGM products are being delivered in batches to the market through domestic and international sales and service networks, creating substantial economic and environmental benefits for customers.
JGM has already established deep cooperation with partner enterprises within SPIC's Green Power Transportation Ecosystem. Together, they have co-developed products such as the CTB (Cell to Chassis) battery-chassis separated, vehicle-integrated storage pure electric wheel loaders, ushering in the 2.0 era of construction machinery electrification and accelerating the industry's green transformation. Through deep industrial synergy with ecosystem partners, they provide customers with comprehensive "green power - energy storage - charging/swapping - complete vehicle/construction machinery" scenario-based new energy equipment solutions, which have been delivered in batches to domestic and international markets and have gained market recognition.
In the future, leveraging the support of its shareholders, JGM will continue to pursue coordinated development with partner enterprises in SPIC's Green Power Transportation Ecosystem. It will further integrate upstream and downstream industry resources, strengthen technological breakthroughs and innovation, deeply cultivate the new energy construction machinery industry, lead the green electricity wave, and pioneer a zero-carbon future.
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