FDG Group and CVMC Entered Into a Cooperation Framework Agreement
The partnership will facilitate the procurement process and delivery of electric vehicles for FedEx and Ryder
Hong Kong, June 1, 2020 – FDG Electric Vehicles Limited (“FDG”, stock code: 729) announces that FDG together with its subsidiaries (the “FDG Group”) and China Highway Vehicle & Machinery Co. Ltd. (“CVMC”), after entering into the cooperation agreement in January 2020, have subsequently entered into various agreements, pursuant to which both parties laid down the details in facilitating the automobile components procurement process and delivery of Chanje V8100 electric vehicles for Federal Express Corporation (“FedEx”) and Ryder Vehicle Purchasing, LLC (“Ryder”).
The FDG Group will kick-start the production of electric vehicles soon. A working committee between FDG, CVMC and Chanje Energy, Inc. would be set up to start engaging the supply chain in order to prepare for the relaunch of the FDG Group’s electric vehicle factory in Hangzhou.
Chanje V8100 is a ground-up designed zero emission medium duty electric commercial vehicle purposely built for the last mile delivery. It can carry up to 6,000 pounds payload and has 675 cubic feet of cargo volume. It is powered by a 100 kWh battery and provides 150 miles on a single charge. Chanje V8100 has a lower operational cost and lower total cost of ownership compared to the internal combustion engine alternatives. Under the recent global trend of imposing the congestion zones in cities, the FDG Group believes that the Chanje V8100 will be well suited for various fleet operators.
- End -
About FDG Electric Vehicles Limited
FDG Electric Vehicles Limited (“FDG”, stock code: 729.HK) is a pure electric vehicle manufacturer, and FDG Kinetic Limited (“FKL”, stock code: 378) is an indirect non-wholly-owned subsidiary of FDG. FDG aims to become a globally recognised producer of more economical, greener and more energy efficient pure electric vehicles. The Group’s core businesses include ground-up research, design and development, manufacturing and sales of pure electric vehicles, and manufacturing and sales of lithium-ion batteries and cathode materials for lithium-ion batteries. For further information about FDG Electric Vehicles, please visit FDG’s website at fdgev.com.
About Chanje Energy Inc.
Chanje Energy, Inc. (“Chanje”) is a California-based, privately held innovation company delivering ground-up electric trucks and energy infrastructure solutions for the commercial last mile industry. Chanje is made up of a diverse group of automotive experts and clean energy entrepreneurs. Chanje introduced its first vehicle and energy services in 2017. The company will subsequently offer a full range of medium-duty EVs, including trucks, vans, and shuttle buses in a variety of lengths and capacities. For more information, please visit: chanje.com.
For Investor and Media Enquiries:
FDG Electric Vehicles Limited
Mr. Wallace Leung - Investor Relations Officer
Tel: (852) 3101 6106