FDG is Presented with the New Development Opportunities by Signing a Cooperation Framework Agreement with Kunming General Bus Company

Mar 04, 2015 11:00 JST

HONG KONG, Mar 04, 2015 - (ACN Newswire) - FDG Electric Vehicles Limited (the "FDG Electric Vehicles", "FDG" or "Group", Stock Code: 00729.HK) is pleased to announce that in order to implement 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 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."

Sectors: Daily Finance, Daily News