Ev Dynamics Strengthens Presence in EV Market with Proposed Nasdaq Listing
Solidifying Industry Leadership with Global Expansion Drive
(Hong Kong, 23 December 2021) – Ev Dynamics (Holdings) Limited (the “Company”, Stock Code: 476, together with its subsidiaries, collectively “Ev Dynamics” or the “Group”), a provider of new energy vehicles and integrated technology solutions, continues to expand its international development strategy following the submission of a draft registration statement on Form F-1 with the United States Securities and Exchange Commission (“SEC”) for confidential review in relation to its proposed offering of American depositary shares in the United States.
Mr. Miguel Valldecabres Polop, CEO of Ev Dynamics, said, “We are delighted with the proposed Nasdaq listing as it represents another step forward in the expansion of our global business and will help to solidify our status as a strong player in the global electric vehicle (“EV”) market. We not only have an expert international management team and solid international investors, but also an increasingly widespread global market reach. We expect the proposed listing will be an attractive opportunity to drive greater market participation and liquidity for our shareholders, increase the size of our U.S. retail and institutional investor base, and ultimately enrich shareholder value over the near to long term.”
Ev Dynamics has an established global distribution network and has secured orders from markets in Asia, Europe, and the Americas. It has recently entered the growing North American market with an innovative solution for manufacturers of EV buses, coaches, trucks and vans. The B2B solution offers Ev Dynamics’ proprietary e-platform chassis which has been specifically designed to cater to the rapid development of electric and hydrogen vehicles. The platform is a complete rolling chassis that houses the drivetrain, battery or hydrogen fuel cell, and vehicle control unit.
“Our turn-key solutions limit the development costs and regulatory approvals required to establish new vehicle designs and a specialized NEV manufacturing facility,” added Mr. Valldecabres Polop. “We are finding this approach to be especially valuable to manufacturers of small buses and delivery vans operating in emerging markets. With our lower cost and faster-to-market approach, we expect to establish Ev Dynamics as a world leader in this high-growth market segment.”
During the years, Ev Dynamics completed part of the orders to the Philippines of the 500 COMET electric minibuses under a long-term supply agreement with GET Worldwide.
Ev Dynamics’ 12-meter E-Bus recently passed two key certifications that have paved the way for entry into the European market. An initial shipment of these E-Buses have arrived Munich, Germany, where they will serve as demonstration units for potential European customers. The Group has also established a pipeline of partnerships and manufacturing agreements worldwide, including a major investment in Quantron AG (Germany).
The Ev Dynamics management team, meanwhile, has accumulated years of experience and prowess in corporate management and investments in the PRC and abroad. The Group also has a team of international advisors comprising automobile marketing, investment and funding experts to support its growth strategy in the global market. Among more recent developments, Colombian entrepreneur Mr. Frank Kanayet Yepes has increased his shareholding in the Company’s shares to 3%, adding to his first investment made earlier this year. Other prominent investors include Malaysian entrepreneur Dato Sri Johann Young and Aboitiz Equity Ventures CEO Mr. Endika Aboitiz.
The terms of the proposed offering, including offering size and price range, have not yet been finalized. The timing of the proposed Nasdaq listing is also subject to market and other conditions and the SEC’s review process. The Company will continue to maintain the listing of its shares on the Stock Exchange of Hong Kong.
About Ev Dynamics (Holdings) Limited (Stock Code: 476)
Ev Dynamics is a pioneer and prominent player in China’s new energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty 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 systems and their key components. It has a production base in Chongqing and has developed its sales network in China, Hong Kong, Asia Pacific and South America.