Everlight Electronics Co., Ltd. of Taiwan and Tianmu Solid State Lighting of Jiangsu concluded an agreement on establishing a joint venture in mainland China for Jiangsu Province’s RMB 6 billion procurement of LED streetlights.
 
According to Tianmu SSL, 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.