(EQS-News / 05/03/2015 / 10:04 UTC+8)
Press Release
FDG is Presented with the New Development Opportunities by
Signing a Cooperation Framework Agreement with
Kunming General Bus Company
(3 March 2015 Hong Kong), FDG Electric Vehicles Limited (the "FDG Electric
Vehicles", "FDG" or "Group", Stock Code: 00729.HK) is pleased to announce
that in order to carry out the Kunming government's "Implementation plan
for the promotion and application of new energy vehicles and the industrial
development" published at the end of 2014, Yunnan FDG
Automobile Co., Ltd. (the "Yunnan FDG"), a subsidiary of FDG Group, signed
a cooperation framework agreement with Kunming General Bus Company (the
"Kunming General Bus").
Kunming published the "Implementation plan for the promotion and
application of new energy vehicles and the industrial development" at the
end of 2014. The plan shows, at the end of 2015, Kunming will implement
demonstration and extension of 3,400 new energy electric vehicles,
including 1,000 new energy public buses, and construct 3,700 charging
piles. With near 5,000 operating vehicles, Kunming General Bus is one of
the biggest state-owned companies in public passenger transport service
industry in Yunnan Province. To implement the new energy vehicle promotion
plan launched by the Kunming Government, Kunming General Bus is gradually
replacing its buses in batches and has signed an agreement with Yunnan FDG
to purchase Yunnan FDG's pure electric bus. Yunnan FDG will provide
after-sales service and acquire the subsidies for purchasing new energy
vehicles from the national government. Besides, Kunming General Bus will be
responsible for planning parking areas, stops and routes.
Mr. Cao Zhong, Chairman and Chief Executive Officer of FDG Electric
Vehicles Limited said, "With the tendency to improve the urban environment
and save energy in society, electric vehicle has become the development
direction and future mainstream of automotive industry all around the
world. The collaboration with Kunming General Bus will enable the Group to
make sales breakthrough in its electric vehicle business. The Group's
Hangzhou Production Base is expected to be put into operation in the middle
of 2015; FDG will offer more eclectic vehicle models to the robust domestic
vehicle market at that time, while rapidly expand the sales scale of
electric vehicles."
- THE END -
FDG Electric Vehicles Limited
Listed on the Main Board of HKEx (stock code: 00729), FDG Electric Vehicles
Limited ("FDG") is a vertically integrated electric vehicle manufacturer
engaged in electric vehicle, lithium-ion battery and electric vehicle
leasing business. The Group engages in independent R&D, design and
production of electric vehicles such as coaches, medium and minibuses,
commercial vehicles, SUVs and other models, and in the R&D, production,
distribution and sale of Lithium-ion batteries as well as the provision of
leasing service of electric vehicles.
For further information about products and business of FDG, please visit
the Group's website at http://www.fdgev.com
Investor and media enquiries:
Jocelyn Yiu Kevin Mao / Jamie Lu
FDG Electric Vehicles Limited Wonderful Sky Financial Group
Tel: 852-3970-2157 / 852- 3970-2176
Tel: 852-3104-2803 Email: kevinmao@wsfg.hk
Email: ir@fdgev.com jamielu@wsfg.hk
End of Press Release
+++++
Document: http://n.equitystory.com/c/fncls.ssp?u=ABUKHMHSDD
Document title: FDG is Presented with the New Development
Opportunities by Signing a Cooperation Framework Agreement with
Kunming General Bus Company
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330049 05/03/2015 UTC+8
(END) Dow Jones Newswires
March 04, 2015 21:04 ET (02:04 GMT)
