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, has announced that the Company, through its subsidiary Japan Dynamics Co., Ltd. (“Japan Dynamics”), entered into a memorandum of understanding (MOU) with EX JOINTS Co., Ltd. ( “EX JOINTS”) to jointly promote an electric vehicle business in Japan.
Persuant to the MOU, Japan Dynamics and EX JOINTS will establish a business alliance on the promotion of electric vehicle in Machida City, Tokyo Metropolis, Japan. The cooperation includes setting up a sales center and showroom, maintenance and charging facilities, automobile assemble plant in Machida city and opening a sales center in Haneda City.
Mr. Cheung Ngan, Chairman of China Dynamics, said, “As the Group continues to expand its presence in the global electric mobility market, we will be looking forward to a successful collaboration with EX JOINTS. Leveraging our technological advantages in new energy vehicles and EX JOINTS’ local market knowledge, we are confident that we can tap into the Japan market. This cooperation will enable us to share our expertise and know-how, with the aim of exploring future opportunities in the growing new energy vehicles industry.”
With the “Green Growth Strategy Through Carbon Neutrality” policy, Japan targets to achieve “carbon neutrality” by 2050, and this will include the banning of pure gasoline vehicle sales. As traditional fossil fuel vehicles are phased out, Japan is expected to see a surge in demand for electric vehicles and charging infrastructure.
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 EX JOINTS Co., Ltd.
EX JOINTS Co., Ltd. is an experienced supplier of electric vehicle and charging equipment solutions, operating an electric vehicle repair and assembly base and sales company in Machida City, Tokyo, Japan. With extensive network and expertise in the automotive industry, EX JOINTS is working with the Bahraini government for the planning of electric vehicle manufacture base and assembly base to jointly promote the development of the electric vehicle industry in Bahrain.
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Topic: Press release summary