(08 February 2018 – Hong Kong) - FDG Electric Vehicles Limited (“FDG”, “the Group” stock code: 0729.HK) is pleased to announce the entrance to the Pearl River Delta market by partnering with the Foshan municipal government in the Guangdong province in Southern China. Through the cooperation with the local government, FDG will establish a whole new Hydrogen Fuel Cell Research Centre and a New Energy Vehicle Production Base in Foshan. The project marked a crucial step for FDG to enter into the fuel cell industry and the Group’s business footprint has been further expanded into the Pearl River Delta region.
FDG will establish a Hydrogen Fuel Cell Research Centre and a New Energy Vehicle Production Base in the Nanhai District in Foshan to develop and manufacture pure electric vehicles and hydrogen fuel cell powered vehicles. When construction is completed, the annual production capacity for the base could reach 60,000 units. Our products would range from pure electric vehicles and hydrogen fuel cell trucks, passenger vehicles and logistic vehicles. In addition, FDG has always been dedicated to the planning, research and development of the hydrogen fuel cell technology. When the construction of the Hydrogen Fuel Research Centre is completed, it would become the world’s largest hydrogen fuel cell and fuel cell / electric hybrid vehicle production base. This offers one of the best technical solutions to the application of hydrogen fuel cell technology to the Chinese new energy vehicle industry. The project is expected to commence construction in March 2018 with an estimated completion date towards the end of 2019. The fact that the Foshan municipal government has chosen to work with FDG is definitely a recognition and an injection of confidence towards FDG’s in-house research and development of the use of pure electric vehicles.
In order to tap into our targeted niche using our replacement strategy, it is vital to solve the problem of charging and to be able to add mileages rapidly to our pure electric vehicles. The only method to achieve this is by breaking through the current technology and to combine the existing battery technology and various new sources of renewable energy. The city of Foshan is one of the key cities that has been keen to grow the hydrogen fuel cell industry. The corporation between FDG and Foshan should spark a new phase of development for new energy vehicles. With proprietary developments in the hybrid fuel cell and electric vehicle strategy, FDG possesses a secret sword amongst keen competition in the new energy vehicle industry globally.
The Foshan municipal government has been very supportive towards this project. They assist FDG in various ways including assistance in promoting electric vehicles within the city and purchasing FDG-made electric buses, which would enhance the Group’s future revenue streams. In addition, the Foshan municipal government will also assist the Group in promoting FDG-made new energy vehicles to other cities within the Pearl River Delta Economic Zone, such as using our vehicles in major conferences and exhibitions. This cooperation further leaves our footprint into the Pearl River Delta Region and helps us to maintain a solid foothold in Southern China.
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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 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, and manufacturing and sales of pure electric vehicles; manufacturing and sales of lithium-ion batteries and cathode materials for lithium-ion batteries. FDG Kinetic Limited (“FKL”, stock code: 0378.HK) is an indirect non-wholly-owned subsidiary.
For further information about FDG Electric Vehicles, please visit FDG’s website at http://www.fdgev.com.
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