HONG KONG, November 16, 2017 – FDG Electric Vehicles Limited (“FDG”, stock code: 0729.HK) gladly announces our latest plan in constructing a whole new electric vehicle factory and a battery factory in the province of Sichuan, China. FDG’s mission is to gradually electrify the world’s mobility needs in transportation through increasingly affordable electric vehicles and energy products would naturally require more batteries to power on this electric revolution. This blueprint of the all-new electric vehicle factory and the battery factory will support the future ramp-up of the imminent electric vehicle demand. Through this project, FDG has also been named as the preferred supplier for Sichuan province’s electric buses need in this partnership with the local government.
In this ambitious plan, FDG will add a future production capacity of 400,000 units of electric vehicles. The first phase of the project will includea production capacity of 100,000 units. FDG’s battery factory would be built in phases so that FDG can begin production immediately inside the completed phase and expand the factory thereafter. The planned battery factory will have a planned annual battery production capacity of 4 gigawatt-hours (GWh). Phase 1 of the battery factory will be a modest factory of 1 gigawatt-hour, with phase 2 progresses up to a total of 4 gigawatt-hours. The new electric vehicle factory and the battery factory is the result of a partnership FDG, the Jianyang government and a fund.
When the production of the Group’s planned gigafactories is fully ramped, FDG Group would have achieved a total production capacity of 6.3 gigawatt-hours, which is almost 25% of the world’s total battery capacity produced for electric vehicles last year. This further emphasize FDG’s aspiration to climb up the vertical integration ladder, creating greater economies of scale and own a greater control on cost. In addition, FDG is proud to be selected by the Sichuan Jianyang government as the preferred supplier for the Province’s need for electric buses. The local government has been showing a lot of support on this project.
Such strong partnership and support from the local government proves that the quality of FDG’s electric vehicles is self-explanatory. Instead of working with other branded partners, FDG has been proudly selected to work hand-in-hand with the Sichuan government. This is also an approval of FDG’s vertically-integrated strategy of dominating the value-chain - from electric vehicles to the battery, and from the battery to cathode materials. FDG’s proprietary desgined, built-from-the-ground-up electric vehicles have been well-recognized by the market, as seen from feedback received from our initial roadshow in the United States.
About FDG Electric Vehicles Limited
FDG Electric Vehicles Limited (“FDG”, stock code: 0729.HK) is a vertically-integrated pure electric vehicle manufacturer. FDG aims to become a globally recognized producer of more economical, greener and more energy-efficient pure electric vehicles. The Group’s core businesses include researching, designing and developing pure electric vehicles from the ground up, producing lithium-ion batteries and manufacturing cathode materials for lithium-ion batteries.
For further information about FDG Electric Vehicles, please visit FDG’s website at http://www.fdgev.com.
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