Efacec Power Solutions, China Media Capital form partnership

Efacec Power Solutions of Portugal and China Media Capital (CMC) have formed a partnership to give the Portuguese company access to markets in the Asia-Pacific region, Notícias ao Minuto reports.

The Portuguese news website, citing a written statement issued by Efacec Power Solutions, says the partnership entails the Portuguese company sponsoring the CMC Techeetah Formula E motor racing team, which races electric vehicles, for the next three seasons.

The statement quotes Efacec Power Solutions Chief Executive Ângelo Ramalho as expressing confidence that the partnership will be a success, Notícias ao Minuto says.

In a separate report on the same topic, Portuguese financial news website Economia Online quotes Mr Ramalho as saying the partnership is a unique opportunity for his company to strengthen its position and burnish its reputation.

The company will concentrate in the next decade on developing fast ways to charge electric vehicles, Economia Online says.