(Yicai Global) July 6 -- A Hong Kong-based space technology firm Kuangchi Science will partner with a Shenzhen-based new energy vehicle firm to make ultralight components for such cars. 

Kuangchi Science penned a cooperation agreement with Xihu New Energy Transportation Development today, its Shenzhen-based parent Kuangchi Group said in a statement. Famous tech entrepreneur Liu Ruopeng owns a 50-percent stake in the space tech unit. 

The two firms will produce metamaterials that defy conventions of car manufacturing, such as extremely light internal frameworks and passenger compartments, as well as low-radiation material. They will also make hydrogen vehicle fuel tanks to promote local expertise in this field. Some of the products will be made with carpooling use in mind.

Editor: Emmi Laine