China Dynamics Enters into MOU to Create Exclusive Distribution Network in the Americas
Promotes Electromobility Towards the Goal of a Greener Environment
HONG KONG, Apr 13, 2021 - (ACN Newswire) - China Dynamics (Holdings) Limited (the "Company"; Stock Code: 476, together with its subsidiaries, collectively "China Dynamics" or the "Group"), a provider of new energy vehicles and technology integrated solutions, and Citizens Resources LLC ("Citizens") have signed a Memorandum of Understanding ("MOU") for strategic business cooperation in Canada, the USA, Brazil, the Caribbean and Latin America (hereinafter the "Exclusive Territory") to set the basis for an exclusive master distributorship and licensing agreement.
Under the MOU, both parties will enter into a series of agreements allowing China Dynamics to create a sales pipeline and a distribution network for electromobility products in the Exclusive Territory on an exclusive basis and to support the distribution network with training, marketing, after sales and charging infrastructure.
Meanwhile, Citizens is set to use China Dynamics' technology, intellectual property, know-how, technical support and supply chain to assemble or manufacture electric vehicles in Mexico for further export, distribution, sale and marketing in the Exclusive Territory under a licensing agreement. Citizens will enter into a purchase and sale agreement to buy vehicles or components from China Dynamics on a cost-plus basis, so that China Dynamics will become the provider of powertrains, battery packs, e-kits, and complete rolling platforms.
Mr. Miguel Valldecabres Polop, CEO of China Dynamics, said, "We are pleased to announce the signing of the MOU with Citizens, an energy investment and smart electromobility company in the US. Citizens has nearly 40 years of experience in developing businesses and partnerships internationally, with a particular focus on North America and the Caribbean. This MOU will help expand the Group's markets into the Americas and will add to the Group's growing number of partners working on electromobility products with the ultimate goal of a greener environment through zero-transmission transport."
Mr. Sergio de La Vega, Principal at Citizens, commented, "We have been working on energy transition and efficiency for a few years now. Electromobility represents everything we believe in: smart cities, big data, energy efficiency, lifestyle, respect for our planet and technological evolution. The vehicles of the future will trend towards autonomy, charging and storing energy in better ways to better serve society. We have no doubt this partnership will bring growth and value for China Dynamics and for Citizens."
About China Dynamics (Holdings) Limited (Stock Code: 476)
China Dynamics (Holdings) Limited is a pioneer and a prominent player in new-energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider with a solid technological foundation in diverse areas including new energy platform power system and its key components. The Group has two production bases in Chongqing and it has developed its sales network in Mainland China, Hong Kong, Asia Pacific and South America.
About Citizens Resources LLC
Citizens' predecessor started as a Boston-based non-profit in 1979, importing and providing heating oil for low-income families in Massachusetts. Over the next 40 years, Citizens evolved into an international player in the energy sector. In 2017 Citizens began a transition towards launching a platform for renewable, stranded, and smart energy investments, as well as non-emission mobility projects. Citizens' distribution subsidiaries provide additional expertise and knowledge to develop transportation businesses in LATAM. This network in the energy, automotive, and industrial sectors in the US and Mexico enables Citizens to act as innovators in smart urban mobility solutions, automotive innovation and vehicle distribution.
Strategic Financial Relations Limited
Vicky Lee +852 2864 4834 [email protected]
Phoebe Leung +852 2114 4172 [email protected]
Carrie Leung +852 2114 4912 [email protected]
Citizens Resources LLC
160 Federal St 18th Floor
Boston, MA 02110
Enrico Della Casa (617) 912-1444 [email protected]
Source: China Dynamics (Holdings) Limited
Sectors: Daily Finance, Automotive, Daily News
Copyright ©2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
More Latest Release >>
Eisai and Merck & Co., Inc., Kenilworth, N.J., U.S.A. Receive Priority Review From FDA for LENVIMA (lenvatinib) Plus KEYTRUDA (pembrolizumab) Applications
May 07, 2021 11:08 JST
Showa Denko and Infineon Technologies Conclude Supply Contract and Development Agreement
May 06, 2021 17:00 JST
NEC Develops Neuroscience-inspired AI Technology for Time Series Analysis
May 06, 2021 14:13 JST
NEC Contributes to Development of Artificial DNA Aptamer that Binds to the Novel Coronavirus (SARS-CoV-2)
May 06, 2021 11:27 JST
Synopsis 2021: Hot Trends - Join the Summit 1-5 June
May 04, 2021 09:00 JST
Hard-Fought Hypercar Win for Toyota Gazoo Racing
May 03, 2021 04:25 JST
Komatsu, NTT DOCOMO, Sony Semiconductor Solutions and Nomura Research Institute to Launch "EARTHBRAIN"
Apr 30, 2021 16:35 JST
Toyota Developing Hydrogen Engine Technologies Through Motorsports
Apr 30, 2021 14:20 JST
Toyota Global Sales and Production Secures 90 Percent Level Year-on-Year in FY2021
Apr 28, 2021 16:46 JST
RESONA and Eisai Enter Into Business Alliance Aiming to Support People Living with Dementia and to Prevent Dementia in Saitama Prefecture, Japan
Apr 28, 2021 12:33 JST
NEC recognized in Gartner Magic Quadrant for 5G Network Infrastructure for Communications Service Providers as a Visionary
Apr 28, 2021 11:05 JST
LEXUS DESIGN AWARD 2021 Grand Prix Winner Announced
Apr 27, 2021 17:38 JST
AEON GLOBAL SCM and Toyota Starts to Consider Collaboration on Logistics Improvement and Carbon Neutrality Initiatives
Apr 27, 2021 16:15 JST
Suzuki, Subaru, Daihatsu, Toyota and Mazda Reach Agreement on Joint Development of Technical Specifications for Next-generation Vehicle Communications Devices
Apr 27, 2021 14:35 JST
MHIEC Supplies Incinerators for First Waste-to-Energy Plant in Xiaogan, Hubei Province, China
Apr 27, 2021 11:22 JST
Woven Planet Holdings, a Subsidiary of Toyota, Announces Acquisition of Lyft's Level 5 Division to Accelerate Software Innovation for Automated Driving Mobility
Apr 27, 2021 09:00 JST
Mitsubishi Heavy Industries Partner in Newly Established Hamburg Hydrogen Network to 'Make Hamburg Greener'
Apr 26, 2021 17:27 JST
NTT and Fujitsu Embark on Strategic Alliance to Drive "Realization of Sustainable Digital Society"
Apr 26, 2021 14:05 JST
AD ECU and OTA Unit Adopted in New Model Legend Capable of Over-the-Air (OTA) Vehicle Control Software Updating
Apr 26, 2021 11:35 JST
Honda to be Title Sponsor of the 2021 FIA Formula One Japanese Grand Prix
Apr 26, 2021 10:16 JST