SinoHytec Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange, Offer Price Between HK$60 and HK$76 per H Share, Raise up to HK$1,540.7 million ACN Newswire

SinoHytec Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange, Offer Price Between HK$60 and HK$76 per H Share, Raise up to HK$1,540.7 million

December 29, 2022
HONG KONG, Dec 29, 2022 - (ACN Newswire via SEAPRWire.com) - The leading provider of fuel cell systems in China - Beijing SinoHytec Co., Ltd. ("SinoHytec" or the "Company", Stock Code: 2402), today announced the proposed listing of its shares on the Main Board of the Stock Exchange of Hong Kong Limited ( the "Hong Kong Stock Exchange"). SinoHytec plans to offer an aggregate of 17,628,000 H shares under the Global Offering (subject to the Over-allotment Option), comprising an International Offering of 15,865,200 H shares (subject to Reallocation and the Over-allotment Option), representing 90% of the initial offer shares; and Hong Kong Public Offering of 1,762,800 H shares (subject to Reallocation), representing 10% of the initial offer shares), at a price range between HK$60 and HK$76 per Offer Share. The Hong Kong Public Offering will commence at 9 a.m., December 29, 2022 (Thursday), and close at 12:00 noon on January 5, 2023 (Thursday). Dealings in the shares of SinoHytec on the Main Board of the Hong Kong Stock Exchange is expected to commence on January 12, 2023 (Thursday), with the stock code 2402 and in board lots of 50 Offer Shares each.Guotai Junan Capital Limited and Giraffe Capital Limited are the Joint Sponsors.SinoHytec is a leading provider of fuel cell systems in China, focusing on the design, development and manufacture of fuel cell systems and stacks (a key component of the system) mainly for commercial vehicles, such as buses and trucks. According to the China Insights Industry Consultancy Limited Report ("CIC Report"), the company ranked first in the PRC fuel cell system market in terms of the total power output of fuel cell systems sold* in 2021, with a market share of 27.8%; and in 2021, fuel cell systems accounted for approximately 0.8% of the total sales volume of new energy systems for commercial vehicles, while lithium battery systems accounted for the rest of the total sales volume. As of June 30, 2022, the company's fuel cell systems were installed on 80 models of fuel cell vehicles that are featured in the MIIT New Energy Vehicle Catalogs, ranking us first in the industry.Leader in China's fast growing fuel cell system marketEstablished in 2012, the company is a pioneer in the R&D and commercialization of fuel cell systems in China and started batch production in 2016. The company also participated in the fuel cell vehicle development and commercialization scheme of the United Nations Development Programme in China and witnessed the progress of the PRC fuel cell industry from the R&D phase to pilot testing and to commercialization. The company's fuel cell systems are installed on commercial vehicles operating across various PRC cities, including Beijing, Zhangjiakou, Shanghai, Chengdu, Zhengzhou and Zibo. As of December 20, 2022, the company's fuel cell systems have powered over 2,800 fuel cell vehicles on the road in China. These vehicles had an average mileage of around 40,000 kilometers per vehicle, accumulating over 108.6 million kilometers and 2.3 million hours of operations, which built an industry leading record.Strong research and development capabilitiesThe Company adheres to a R&D principle of "Advance Research", "Continuous Development" and "In-depth Promotion". The key objectives of the Company R&D and product testing activities are to optimize and upgrade the company products' adverse weather capabilities, durability, reliability, efficiency, safety and economy. As of June 30, 2022, the Company has establised an outstanding R&D team of 270 members. The Company also cooperated with leading research universities in China, such as Tsinghua University, to facilitate the development and commercialization of innovative fuel cell technologies so that the Company can respond to the fast-changing market demands.The Company's R&D team has progressively developed the 30kW, 40kW, 50kW, 60kW, 80kW, 100kW, 120kW and 150kW models of fuel cell systems over the years. In particular, the Company launched the 240kW high power output model in December 2021, which is the first automotive fuel cell system in China that can reach a rated power of 240kW.In addition, the Company participated in and achieved significant results in various R&D projects sponsored by the PRC government. As of June 30, 2022, the Company had over 590 patents, including over 210 invention patents, over 360 utility model patents, and 20 design patents. In addition, the Company has more than 590 patent applications that have been accepted by the State Intellectual Property Office of China.* Sales volume of fuel cell systems comprises only direct sales to fuel cell vehicle manufacturers.Solid partnerships with major PRC commercial vehicle manufacturersThe Company has built solid long-term partnerships with major commercial vehicle manufacturers in China, such as Beiqi Foton, Yutong Bus and Geely Commercial Buses, through jointly undertaking national-level R&D projects and codeveloping, demonstrating and testing fuel cell vehicles. In particular, Beiqi Foton and Yutong Bus purchased the Company's fuel cell systems on order basis since 2016 and 2018, respectively, for the production of their fuel cell vehicles. The Company codeveloped with Toyota and Beiqi Foton transit buses using the Company's fuel cell systems which are designated as the official transport vehicles at the Beijing 2022 Olympic Winter Games. As of June 30, 2022, the Company has sold fuel cell systems to over 20 commercial vehicle manufacturers whose total fuel cell vehicles sold in 2021 represented nearly 60% of the market share in China. In addition, Beiqi Group and Yutong Bus have become the company Shareholders and strategic partners, representing the recognition of us by the downstream players of the fuel cell vehicle industry.Integrated components supply system and close cooperation with suppliersAfter years of dedication, the Company built a comprehensive procurement system with local suppliers. During the Track Record Period, the Company has established a relatively stable long-term relationship with over 300 suppliers in China, providing parts such as MEA and air compressors. During the Track Record Period, the company had localized the supply of MEA and procured more raw materials from local suppliers each year.Mr. Zhang Guoqiang, Chairman, Executive Director and General Manager of SinoHytec said, "Our mission is to leverage advanced hydrogen fuel cell technologies to contribute to China's carbon emission peak and carbon neutralitygoal and empower global energy transition. We are committed to becoming a global leader in hydrogen fuel cell technologies for promoting a sustainable and low-carbon future. New energy vehicle development is strategically significant to China's energy security and environmental protections. We intend to achieve this goal by implementing the following strategies: further advance the R&D of fuel cell systems and core components; expand the production capacity of fuel cell stacks to meet the growing market demand and achieve economies of scale; strategically expand our customer base and geographical coverage; expand and strengthen our supply chains; and improve our brand awareness and promote the application of fuel cell systems. We will grasp the opportunities arising in future trend and development of the industry, leverage on our competitive advantages to further consolidate SinoHytec's market position, and create the greatest value for shareholders and investors."Beijing SinoHytec Co., Ltd.Fact SheetInformation on the Global Offering:Number of Offer Shares under the Global Offering: 17,628,000 H Shares (subject to the Over-allotment Option)Number of Hong Kong Offer Shares: 1,762,800 H Shares (subject to reallocation)Number of International Offer Shares: 15,865,200 H Shares (subject to reallocation and the Over-allotment Option)Maximum Offer Price: HK$76.00 per H Share, plus brokerage fee of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565% (payable in full on application in Hong Kong dollars and to refund)Board Lot: 50 H SharesStart of the Hong Kong Public Offering: 9:00 a.m., December 29, 2022 (Thursday)End of the Hong Kong Public Offering: 12:00 noon, January 5, 2023 (Thursday)Announcement of Allotment Results: January 11, 2023 (Wedsnesday)Expected Listing Date: January 12, 2023 (Thursday)Stock Code: 2402Use of Proceeds:The Company estimates that it will receive net proceeds of approximately HK$1121.8 million from the Global Offering, after deducting the underwriting commissions, fees and estimated expenses payable by the Company in connection with the Global Offering, assuming that the Over-allotment Option is not exercised and assuming an Offer Price of HK$68 per Share (being the mid-point of the indicative Offer Price range). The Company intends to use the net proceeds for the following purposes: 1) Approximately 75.0% (approximately HK$841.2 million) will be used to fund the research and development in the next three years;2) Approximately 15.0% (approximately HK$168.4 million) will be used for improving the brand recognition through product promotion and multi-channel marketing in the next three years; 3) Approximately 10.0% (approximately HK$112.2 million) will be used for working capital and other general corporate purposes. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Fukuoka Prefecture and CJPT Enter Partnership to Implement FC Mobility Expansion Initiatives JCN Newswire

Fukuoka Prefecture and CJPT Enter Partnership to Implement FC Mobility Expansion Initiatives

December 26, 2022
TOKYO, Dec 26, 2022 - (JCN Newswire via SEAPRWire.com) - Fukuoka Prefecture and Commercial Japan Partnership Technologies Corporation (CJPT) have entered a partnership agreement that includes jointly implementing initiatives to expand the adoption of fuel cell electric vehicles (FC mobility) for vehicles that underpin our daily lives in the logistics industry, public transportation, and official government use. The aim is to advance the development of a hydrogen society to achieve carbon neutrality.Hydrogen is being positioned as a key technology for carbon neutrality in the national government's Green Growth Strategy. Fukuoka Prefecture also announced a new hydrogen strategy, the Fukuoka Prefecture Hydrogen Green Growth Strategy, in August of this year. As part of this, the prefectural government will conduct targeted initiatives toward "innovations in hydrogen generation," including expanding the use of green hydrogen, which does not emit CO2 during generation, "expansion of hydrogen use" in factories and mobility, and "concentration of hydrogen-related industries" through these activities. The prefecture is particularly focusing on the early adoption of trucks and other commercial FC mobility options with stable, large-volume hydrogen requirements. The aim is to make hydrogen fuel more accessible to residents of the prefecture while expanding its use and promoting industrial and regional development.CJPT is working on electrification and logistics efficiency as initiatives to accelerate the implementation and expansion of CASE technologies in society, help address social issues, and contribute to carbon neutrality. In terms of electrification, in addition to hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs), CJPT is also working to implement a commercial and public FC mobility plan that make electrified vehicles part of daily life to expand the use of hydrogen in light of Japan's energy situation. Hopes are that these cross-industry partnerships will spread cooperation between as many people as possible to create a hydrogen society.To help achieve Japan's goal of carbon neutrality by 2050, there is a growing need for concrete initiatives aimed at building sustainable societies that can be passed on to future generations. With this in mind, Fukuoka Prefecture and CJPT have been discussing their shared ambition of creating a hydrogen society and have entered into this partnership agreement today to jointly implement the following initiatives for expanding the use of FC mobility,Joint initiative framework1. Planning and implementing the adoption of FC mobility for commercial and official government vehicles using FC electric trucks and passenger vehicles2. Planning and implementing the adoption of FC mobility for regional transportation, etc.3. Promotion of infrastructure development toward the use of heavy-duty FC mobility options on main arterial routesSpecific initiatives under this partnership include working to further expand the use of FC mobility, starting with the adoption of light-duty FC electric trucks by logistics operators this financial year. In addition to increasing the adoption of light-duty FC electric trucks for distributing food, daily necessities, and other goods, the partnership will consider and plan a staged expansion of FC mobility over the medium to long term. This will include use of fuel cell electric vehicles for official public duties such as garbage compactor trucks (trash collection) and ambulances. It will also include the adoption of large FC electric buses for regional transportation and small FC electric buses in regions with smaller populations. Finally, it will include development of infrastructure, etc. designed for heavy-duty FC mobility options, including using long-haul trucks on main arterial routes.Starting in Fukuoka Prefecture, which has among the largest number of trucks in western Japan and where hydrogen is already in use, and looking to expand across Kyushu, Fukuoka Prefecture and CJPT will work together to develop a practical and sustainable hydrogen society. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Fully Charged Wuling Motors Sets Sail On Completion of the Restructuring of New Energy Business

December 1, 2022
HONG KONG, Dec 1, 2022 - (ACN Newswire via SEAPRWire.com) - It was recently known to us that Wuling Motors (00305. HK) had completed the capital increase into Wuling New Energy. Wuling Motors, capitalized from the restructuring as an important participant, will expedite its in-depth deployment in the field of new energy vehicles in promoting a robust and comprehensive development in the new energy business.After the restructuring, Wuling New Energy would integrate the resources from the group companies of Wuling Motors and focuses on R&D, manufacturing, and sales of new energy vehicles. According to public information, Wuling New Energy has a respectable performance in the domestic market. At present, it has the second-largest market share in the market segment of new energy logistics vehicles. The plug-in hybrid new model G200, for the commercial and multi-purpose segment market, is expected to be launched in early 2023. As regards the international market, Wuling New Energy also performs well. On 2 September 2022, Wuling New Energy delivered a pure electric logistics vehicle prototype to Japanese clients and successfully entered into agreement for mass production. The pure electric logistics vehicle is expected to commence mass production by the end of April 2023 with a target sale volume of 100,000 vehicles in five years.Not long after Wuling New Energy appears in the public eye, good news continues to come out. It can be seen that the integration of prime assets and resources has given Wuling New Energy a solid operating foundation. Relevant resources revealed that Wuling New Energy products have already developed a product pipeline with a batch of products being launched or ready to be launched to the market, a batch of products under research and development, and a batch of products under the design and planning process. In essence, a spectrum plan of products has been initially constructed, which could allow Wuling New Energy to capture the tremendous future market potential under this promising environment for the new energy vehicle industry. It is worth mentioning that, according to the Letter of Intent relating to the capital injection project to Wuling New Energy released in December 2021, Wuling Motors has intention to become the controlling shareholder of Wuling New Energy by further capital increaser based on its development. Given that Wuling Motors and Wuling New Energy are both subsidiaries of the Guangxi Automobile Group, the development would be sensible if further capital increase can bring long-term benefits to both parties. Overall, with the ample business opportunities provided by the new energy vehicle business, the close cooperation between Wuling Motors and Wuling New Energy in promoting business bestowed upon their own strengths and capabilities will be beneficial to the business operation and development of both. It can be expected that the better Wuling New Energy develops, the more opportunities and sustainable benefits Wuling Motors can enjoy.Indeed, since Wuling Motors announced its restructuring plan in December 2021, it has attracted great attention from the market. According to the relevant news, a smooth kick start of the operation of Wuling New Energy would bring about favourable market responses, which in turn would benefit Wuling Motors from realizing its business strategic layout with promising growth potential. Furthermore, completion of the restructuring would also allow Wuling Motors Industrial Company Limited to transfer the related R&D expenditure on new energy vehicles to Wuling New Energy, from which the R&D costs would be substantially reduced and resources and energy could be more effectively deployed in developing more competitive core component products. At the same time, Wuling Motors Industrial, being a strategic key supplier to Wuling New Energy, together with its keeping of the export business will continue to serve as a solid and steady growth driver in contributing to the business performance of Wuling Motors.Essentially, Wuling Motors has already actively expanded the new energy parts industry, including various types of new energy electric rear axles, motors, electronic controls, hybrid power systems, and other products. Sales volume of electric motors and electronic controls has just exceeded the volume of 10,000 units. Recently, Wuling Motors Industrial has also celebrated the milestone of the production of the one-millionth car-axle component for new-energy vehicle, impressively making it the first enterprise in China in reaching the 1,000,000 units of the miniature integral electric rear axle in less than three years period. In terms of hybrid-power systems, Wuling Motors has successfully developed its hybrid power system products for new energy vehicles, achieving a reduction in fuel consumption of more than or equal to 30% as compared with the same type of traditional fuel power vehicles. The high thermal efficiency Atkinson engine was first mass-produced in April this year, and shortly after the high-efficiency and cost-effective HEV hybrid powertrain was also mass-produced in June, which signified an important step in the transformation and upgrades from traditional fuel vehicle power to new energy vehicle hybrid power. It can be seen the profound R&D and innovation capabilities and strong production and manufacturing capabilities of Wuling Motors would undoubtedly enable it to become a key and well-deserved strategic supplier to Wuling New Energy.The participation of Wuling Motors in the restructuring of Wuling New Energy has not only accelerated the strategic layout of the new energy vehicle field, but also allows Wuling Motors to be more focus on the research and development of automotive components for the new energy vehicles, which represents virtually a full coverage of the entire industry chain of new energy vehicles.Wuling New Energy is now integrated with the prime assets and resources of the group companies of Wuling Motors for enhancing its strengths in the field of new energy vehicles, while the re-positioned Wuling Motors in the new energy business segment is also fully charged with power. The road ahead could be a new era of growth and development. On the back of the favourable government policies with huge market opportunities for grasping, we would wait and see whether Wuling Motors can be succeeded in beating the targets when turning this corner of the race track. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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NEC and Virginia Tech Transportation Institute demonstrate intersection safety using AI-based video analytics JCN Newswire

NEC and Virginia Tech Transportation Institute demonstrate intersection safety using AI-based video analytics

November 10, 2022
Tokyo & Blacksburg, Nov 10, 2022 - (JCN Newswire via SEAPRWire.com) - NEC Corporation (TSE: 6701) and Virginia Tech Transportation Institute (VTTI) have successfully carried out a proof of concept (PoC) to provide safety information and warnings to drivers, pedestrians and other road users near intersections using Artificial Intelligence (AI)-based video analysis technologies.In the PoC conducted from June to September of this year, conditions inside and outside an intersection at the Virginia Smart Roads test track were analyzed using information gathered from cameras and video analysis equipment installed on traffic signal poles. NEC provided AI-based video analytics technology that can detect, categorize, and track road users such as vehicles, pedestrians, and bicycles around intersections. In addition, by integrating this technology with a C-V2X(1) system that notifies vehicles and pedestrians of safety information and warnings, the feasibility of an infrastructure-cooperative mobility service in which infrastructure and vehicles exchange information via wireless communication was evaluated.NEC and VTTI also worked on traffic safety use cases such as predicting collisions between vehicle and pedestrian, pedestrian crossing detection, and right/left turn vehicle detection. In these cases, vehicles were successfully notified within 0.5 seconds after the video analysis AI detected the possibility of a collision between a vehicle and a pedestrian. This is expected to be useful in reducing traffic accidents by quickly communicating the risk of collisions at intersections with poor visibility, etc."This PoC combines state-of-the-art AI-based video analytical solutions with C-V2X technology to create social value that contributes to safety and security for vehicles and pedestrians in the vicinity of intersections. These technologies are capable of identifying hazardous situations in areas that can be blind spots for drivers and pedestrians and notifying them of such situations. NEC believes that this solution can contribute to a reduction in crashes and fatalities, as well as to supporting automated driving from roadside infrastructure," said Koji Kikuchi, Senior Director, Smart City Business Development Division, NEC."The concept of infrastructure-cooperative mobility that NEC is aiming for requires highly reliable, low-latency communications via a dedicated network to predict or detect incidents near intersections. VTTI believes this PoC will complement C-V2X technology and improve road safety by informing vehicles and pedestrians of possible traffic hazards when passing through an intersection. VTTI intends to work together with NEC to apply the results of this PoC to intersections on live public roads," said Mike Mollenhauer, Director of the Division of Technology Implementation at VTTI.(1) Cellular Vehicle-to-Everything (C-V2X): A 3GPP standard for V2X applications such as self-driving cars.About NEC CorporationNEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.About new windowVirginia Tech Transportation InstituteAs one of seven premier research institutes created by Virginia Tech to answer national challenges, VTTI is continually advancing transportation through innovation and has affected public policy on national and international levels.VTTI has grown from 15 faculty, staff, and students to become the second largest university-level transportation institute in the U.S. with approximately 300 employees. VTTI has effected significant changes in public policies for driver, passenger, and pedestrian safety and is advancing the design of vehicles and infrastructure to increase safety and reduce environmental impacts.In all endeavors, the VTTI community is charged with finding solutions to the greatest transportation challenges facing our world. The faculty, staff, and students of VTTI are truly dedicating their lives to saving lives. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Ev Dynamics Signs Largest Ever Supply Agreement with Bimbo for Electric Delivery Vehicles ACN Newswire

Ev Dynamics Signs Largest Ever Supply Agreement with Bimbo for Electric Delivery Vehicles

November 7, 2022
HONG KONG, Nov 7, 2022 - (ACN Newswire via SEAPRWire.com) - Ev Dynamics (Holdings) Limited (the "Company", Stock Code: 476, together with its subsidiaries, collectively "Ev Dynamics" or the "Group"), a leading developer and manufacturer of new energy vehicles (NEVs), has signed a definitive agreement to supply electric last-mile delivery vehicles to the world's largest bakery company Grupo Bimbo, S.A.B. de C.V. ("Bimbo"). The first 10 testing units delivered in the first quarter this year match all requirements of Bimbo in meeting daily last mile delivery needs.With Ev Dynamics chassis fitted with its rear body, the delivery vehicle of Bimbo, the world's largest bakery company, has the private label "VEKSTAR Electric Vehicles" boldly displayed on the exterior. The contract has been signed for a period of five years, with the first batch of 200 vehicles expected to be shipped to Bimbo's Mexico City distribution center in the first quarter of 2023, and subsequent quantities to be determined by separate purchase orders. In total, no fewer than 1,000 vehicles are expected to be delivered under this master contract, making it the largest order in the Group's history. The vehicles will have an e-platform chassis that houses the drivetrain, battery and vehicle control unit, and the cab to be fitted with Bimbo's existing delivery vehicle rear body. They will serve Bimbo's distribution channels in the Mexico City metropolitan area as well as the central and southern regions of Mexico.Miguel Valldecabres Polop, CEO of Ev Dynamics, said: "We are proud to support Bimbo's strong and long-standing commitment to environmentally friendly solutions. This new major global supply agreement from a leading multinational corporation is solid proof of the endorsement our B2B new energy vehicle solutions enjoy. With them, our customers can significantly reduce development costs and hasten regulatory approvals typically required for new vehicle designs, hence be able to quickly deploy electric vehicles." With the first 10 testing units delivered in the first quarter this year found meeting Bimbo's daily last mile delivery needs, the Group is now focusing on mass production to warrant the status as one of the main electric van platform suppliers of Bimbo.The new Ev Dynamics electric vehicles give a welcomed brace to Bimbo, which recently announced its commitment to achieving net zero carbon emissions by 2050, and its plan to add 4,000 NEVs to its fleet next year. Bimbo currently operates the largest fleet of electric distribution vehicles in Mexico and one of the largest distribution networks in the world. It has more than 3.3 million points of sale in 33 countries, and over 138,000 associates servicing more than 55,000 delivery routes. Miguel Valldecabres Polop continued: "There is a huge demand for electric vehicle customization solutions in Latin America, Asia, and Europe. Proven capable of offering high-tech, sustainable and innovative electric vehicle solutions, we are optimistic about achieving fruitful results as we speed up promoting business and sales, capitalizing on our distinctive presence in the international electric vehicle segment."About Ev Dynamics (Holdings) Limited (Stock Code: 476)Ev Dynamics (Holdings) Limited is a pioneer and an emerging prominent player in the world's new energy commercial vehicles market. It is a component and whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It provides integrated driving and logistics solutions backed by its solid technological foundation in areas including new energy platform power systems and key components. Its NEV R&D center is in Shenzhen and manufacturing base is in Wulong, Chongqing, China, and has a sales network covering Mainland China, Hong Kong, Asia Pacific and South America. To learn more, go to evdynamics.com.About Grupo Bimbo, S.A.B. de C.V.Grupo Bimbo, S.A.B. de C.V. is the leader and largest baking company in the world and a relevant participant in snacks. It has 203 bakeries and other plants and more than 1,600 sales centers strategically located in 33 countries in the Americas, Europe, Asia and Africa. Its main product lines include sliced bread, buns & rolls, pastries, cakes, cookies, toast bread, English muffins, bagels, tortillas & flat breads, salty snacks and confectionery products, among others. Bimbo produces over 10,000 products and has one of the largest direct distribution networks in the world, with more than 3.3 million points of sale, more than 55,000 routes and over 138,000 associates servicing those routes. Its shares are traded on the Mexican Stock Exchange (BMV) under the ticker symbol BIMBO, and in the United States over-the-counter market with a Level 1 ADR under the ticker symbol BMBOY. To learn more, visit grupobimbo.com. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Turning towards Clean Energy, PLN Accelerates the Electric Vehicle Ecosystem from Upstream to Downstream ACN Newswire

Turning towards Clean Energy, PLN Accelerates the Electric Vehicle Ecosystem from Upstream to Downstream

November 7, 2022
JAKARTA, Nov 7, 2022 - (ACN Newswire via SEAPRWire.com) - PT PLN (Persero) today outlined its focus on providing infrastructure to accelerate Indonesia's electric vehicle ecosystem, aimed to reduce the carbon emission on transportation.Minister of State-Owned Enterprises (BUMN) Erick Thohir said the government is fully committed to develop the electric vehicle ecosystem, mainly after President Joko Widodo released Presidential Regulation Number 55 of 2019 on the Acceleration of the Battery Electric Vehicle Program for Road Transportation.For this reason, the Ministry of State-Owned Enterprises (BUMN) is in full support by assigning a number of SOEs, including PLN, to accelerate the electric vehicle ecosystem in Indonesia. "We all should keep national energy security in appropriate condition, which at this time we import 1.5 million barrels per day for fuel-oil based (BBM) or the equivalent of Rp 200 trillion per year. Electric vehicles are the solution to reduce the foreign exchange abroad," he said.Minister Thohir explained that the transition of electric vehicles has many benefits, both for the economy and the environment. This is in line with the national goal to continue to encourage sustainable economic development. "Electric vehicles are more eco-friendly transportation. The emissions produced are lower than fuel-oil based vehicles, so it will reduce air pollution as well as noise pollution," said Minister Thohir.Moving quickly, the Ministry of SOEs has also assigned a number of SOEs, including PLN, to collaborate on accelerating the electric vehicle ecosystem in Indonesia. President Director of PLN Darmawan Prasodjo stated that PLN is ready to support the acceleration of the electric vehicle ecosystem from upstream to downstream. Besides securing power supply for charging electric vehicles, PLN has also prepared supporting infrastructure and services to facilitate users towards switching to electric vehicles.Currently, PLN has developed 150 units of Public Electric Vehicle Charging Stations (SPKLU) spread over 120 locations. PLN plans to expand 110 units more of SPKLU in 2022. Darmawan said that PLN is pleased to welcome business entities to collaborate in partnerships to provide SPKLU. A new scheme for the provision of SPKLU is the Partnership Investor Own Investor Operate (IO2) in which the Partner prepares investment funds according to the type of SPKLU service, land provision and operation and maintenance. "PLN also cooperates with state-owned banks or Himbara for EV banking service products, car installments and the SPKLU franchise," he said.In addition, for electric motor vehicles, PLN has also provided a General Electric Vehicle Battery Exchange Station (SPBKLU). Currently there are 16 units installed in Jakarta, and 2 units in Surabaya. In 2022, it is planned that 70 SPBKLU units will be expanded with a total of about 300 batteries and locations spread across Java and Bali."Considering the experience of electric vehicle users, charging is mostly done at home when the vehicle is not in use. Usually at night. For this reason, PLN has also collaborated with ATPM or electric vehicle distributors," he said.Through this collaboration, PLN customers who purchase electric vehicles will immediately be assisted with the installation of home charging and discounts fee on new installation for electric vehicles, namely the 'Super EVeryday' promo. "PLN also provides a 30 percent discount fee for use from home charging electricity from 22.00 WIB to 05.00 WIB," he said.Electric vehicle users are also facilitated, Darmawan said, by Electric Vehicle Digital Services (EVDS). The EVDS is a platform for complete electric vehicle services. "EVDS will improve customer experience by digitizing and integrating all customer service systems for users or potential users of electric vehicles," he explained.PLN is also actively collaborating with other SOEs institutions to scale up an end-to-end EV Battery supply chain through the Indonesia Battery Corporation (IBC). Darmawan explained, the potential for nickel in Indonesia will be able to support the acceleration of EV in Indonesia, because the battery component is the most expensive component in an electric vehicle.Therefore, PLN has joined the IBC, a consortium of 4 SOEs, which consists of PLN, Antam, Pertamina and Mind ID, that will engage the mining and energy sectors. "In 2022, PLN will increase the fund up to IDR 513 billion to IBC to develop the battery industry," said Darmawan.Source: PT. Perusahaan Listrik Negara (Persero) Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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NTT Com and DENSO to Collaborate to Provide Security Operation Center for Vehicles JCN Newswire

NTT Com and DENSO to Collaborate to Provide Security Operation Center for Vehicles

October 18, 2022
KARIYA, JAPAN, Oct 18, 2022 - (JCN Newswire via SEAPRWire.com) - NTT Communications Corporation (NTT Com), the ICT solutions and international communications business within the NTT group, and DENSO CORPORATION (DENSO), the global manufacturer of mobility components offering advanced mobility technologies, systems and products, announced today that it will collaboratively develop the Security Operation Center for Vehicles (VSOC1) to respond to the threat of increasingly sophisticated cyber-attacks against vehicles. Culminating from past efforts2, this collaboration combines the strengths of NTT Com and DENSO to establish and develop the technologies that comprise the VSOC(vehicle SOC) service and its operation systems. NTT Com provides its technological capabilities related to managed IT security, including networking, cloud computing, and ICT SOC, while DENSO leverages its unique technologies related to information security, communications, and data analysis, which it has cultivated in the areas of in-vehicle systems, vehicle cybersecurity, and connected car development. The two companies, both of which have extensive expertise in the IT and mobility fields, will work together to provide robust VSOC services that can accurately respond to evolving vehicle-related cyber-attacks. The collaboration aims to provide key services that enable prompt incident response at car manufacturers and mobility providers. Services to be provided include:- Vehicle monitoring and cyber-attack detection by automating the acquisition of log output from communications, connected servers, and security devices installed within vehicles- Detection of cyber-attack trends along with the details of actual attacks against vehicles on an individual or fleet-wide basis- Analysis of cyber-attacks and threats by expert security analysts, reporting of results and forensic information that facilitates recovery and response efforts, and real-time visualization and alerting for customers through a client portal site- Reliable and highly-available vehicle security monitoring on a global scale, built atop of NTT Com's proven infrastructure and operational experienceAs the number of vehicles facing threats from sophisticated cyber-attacks continues to grow, it is necessary to monitor connected cars, detect and analyze attacks at an early stage, and take appropriate measures. Through this collaboration, the two companies aim to provide VSOC services and accelerate their development to contribute to the realization of a safe and secure mobility society. NTT Com and DENSO began developing technology to detect and analyze vehicle cyber-attacks in 2017. Since 2020, the technology was further refined by simulating attack scenarios against vehicles and measuring responses to various events, including the detection of attacks and the analysis of the scope of impact using an experimental VSOC.(1) VSOC is an abbreviation for Security Operation Center for Vehicles. It refers to an organization that specializes in detecting and analyzing cyber-attacks on vehicles and developing countermeasures against them. (2) DENSO and NTT Communications Starts Validating Jointly Developed Vehicle Security Operation Center Technology to Realize Resilient Security Solutions for Connected Cars (published in December 2019)About NTT CommunicationsNTT Communications solves global technology challenges by helping enterprises utilize managed IT-infrastructure solutions to overcome complexity and risk in their ICT environments. These solutions are backed by our worldwide infrastructure, including industry-leading, global tier-1 public and private networks reaching over 190 countries/regions, and more than 500,000m2 of the world's most advanced data center facilities. Now as the core provider of the DOCOMO group's enterprise-business services and solutions, we create value through global-scale support for structural changes in industry and society, new workstyles, and digital transformation in communities. Together with NTT Ltd., NTT Data, and NTT DOCOMO, we are the NTT Group. www.ntt.com; Twitter@NTT Com; Facebook@NTT Com About DENSO DENSO is a $45.1 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 198 facilities to produce electrification system, powertrain system, thermal system, mobility electronics, & advanced devices, to create jobs that directly change how the world moves. The company's 167,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2022. For more information about global DENSO, visit www.denso.com/global/en/. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Wuling Motors (00305.HK) Announces 2022 Interim Results

August 26, 2022
HONG KONG, Aug 26, 2022 - (ACN Newswire via SEAPRWire.com) - On August 24, Wuling Motors (00305.HK), a Hong Kong-listed company, released its 2022 semi-annual performance report.In the first half of 2022, Wuling Motors achieved an operating income of 6.275 billion yuan, a year-on-year decrease of 12.4%; a net loss of 139 million yuan, a substantial increase over the same period 2021. During the period, affected by the international situation and the frequent outbreak of the epidemic, the Chinese auto market was still in an adjusted recovery period. The revenue of each segment of the company declined to various degrees, because of the continued high price of raw materials and shortage of auto chips.In terms of revenue structure, Wuling Motors' revenue comes from four departments: the automotive power system, auto parts & other industrial services, commercial vehicles (including new energy vehicles), and others. The auto parts department is still the company's largest source of income. In the first half of the year, apart from SAIC-GM-Wuling, the auto parts department promoted products to other customers, such as Great Wall Motor, Foton Motor, Chery Automobile, Dongfeng Xiaokang, etc. During the period, sales increased slightly compared with the same period of 2021, and sales to these customers accounted for approximately 32.6% of the total revenue of the department. Wuling Motors continuously improved the single structure of customers and realized business diversification.During the period, the automotive power system department sold approximately 109,000 engines in the first half of 2022, a slight increase of approximately 3.9% over the same period of 2021; sales to the core customer SAIC-GM-Wuling increased by 25% over the same period in 2021. However, due to the tough business environment, the selling price of the engine was low and the sales revenue decreased.In terms of commercial vehicle business, in addition to new energy vehicles, Wuling Motors continued to deepen the market segment of modified vehicles and non-road vehicles. In 2022 H1, the sales volume of conventional modified vehicles was 28,519 units, which made Wulin Motors continue to be one of the leading suppliers in the micro-cargo modified market segment; the sales volume of non-road vehicle business reached 1,974 units. It is worth mentioning that the pure electric logistics vehicle independently developed by Wuling Motors has been rapidly increasing since its launch in 2020. In the first year, the sales volume was about 4,700 units. In 2021, the annual the sales volume has exceeded 10,000 units. In the first half of 2022, domestic sales of new energy vehicles reached 7,896 units, a year-on-year increase of 57%. The pure electric logistics vehicle has been recognized by the market, which also verifies that Wuling Motors can manufacture complete vehicles. In addition, Wuling Motors has the manufacturing experience of auto parts, the ability to control the supply chain, and the ability of lean production. In the future, Wuling Motors may make overall arrangement on the entire industry chain of new energy.According to the announcement, the Hubei Jingmen production base built by Wuling Motors for in-depth cooperation with Great Wall Motors will be put into production in the second half of 2022. Meanwhile, Wuling Motors' auto parts division department has successfully manufactured new products such as front & rear axles of Chery Automobile and SAIC Maxus, and actively approached new business opportunities with other target customers, providing new growth drivers for the company.What is more worth mentioning is that Wuling Motors strategically participates in the restructuring of Wuling New Energy to accelerate the expansion of the new energy vehicle industry and meets the powerful opportunities in the new energy vehicle market segment. Wuling Industry will sell the original patented technology of new energy vehicles to Wuling New Energy, and the relevant R&D expenses will be transferred to Wuling New Energy after the completion of the reorganization, which can effectively reduce subsequent R&D expenses and increase profits. Meanwhile, Wuling Industry, as a strategic supplier of Wuling New Energy, will continuously bring stable growth points for the company's performance as Wuling New Energy develops.According to public information, since August, Liuzhou and Wuling Industry, Shandong Branch have linked multiple production lines to keep producing, seize the time to ensure production, and support several new energy vehicle models from many car companies. The monthly output continues to rise and is expected to exceed 70,000 units. It is expected that the company's profitability will grow in the second half of the year. In addition, Wuling Motors stated that the increase in R&D expenses of new business projects related to new energy vehicles and components also adversely affected the company's earnings performance. In 2022 H1, the company's R&D investment is 191 million yuan, a significant increase of 61.9% year on year. The company will continue to increase investment in research and development, enrich product lines, and enhance brand influence to increase sales of new energy power systems, auto parts, and commercial vehicles.Overall, although the operating performance of Wuling Auto's semi-annual report has declined, the logic is very clear. Wuling Motors invested a large number of funds in the product research and development of new energy components and new energy vehicles, and actively deployed the new energy vehicle field to seize the opportunities for rapid development of the industry. Wuling Motors is moving forward with energy. After Wuling Motors having gone through a painful period of transformation, the company's future can be expected. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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CJPT to Begin Construction and Social Implementation of an Energy Management System in Fukushima and Tokyo to Promote Electrified Vehicles JCN Newswire

CJPT to Begin Construction and Social Implementation of an Energy Management System in Fukushima and Tokyo to Promote Electrified Vehicles

July 19, 2022
TOKYO, Jul 19, 2022 - (JCN Newswire via SEAPRWire.com) - Commercial Japan Partnership Technologies Corporation has announced today that, in collaboration with its partners, it will begin the construction and social implementation of an energy management system in Fukushima Prefecture and Tokyo in January 2023, to promote the widespread use of electrified vehicles.Since it was founded in April 2021, CJPT has been been considering initiatives at logistics sites to contribute to achieving a carbon neutral society and reduce the burden on drivers and workers by accelerating the spread of CASE. In order to promote the widespread use of electrified vehicles, consignors, logistics businesses, infrastructure providers, automakers, and other related partners must come together to address sustainability by taking a practical approach. As a result of repeated discussions with many people in various industries, it was decided to begin social implementation projects in Fukushima and Tokyo.The introduction of commercial electric vehicles imposes an increasing burden on society as a whole, not only in terms of vehicle purchase, but also in terms of downtime for cargo and vehicles due to recharging and hydrogen filling and an increase in peak electricity demand at business sites due to uneven recharging timing. Commercial electrified vehicles will be introduced in this social implementation project, including heavy-duty fuel cell electric trucks (heavy-duty FC electric trucks) for main line transportation and mini-commercial van electric vehicles (mini-commercial van BEVs) for last mile deliveries. In addition, energy management integrated with commercial vehicle operation management will lead to reductions in overall burden on society and CO2 emissions.Through this initiative, CJPT will increase the movement toward carbon neutrality of the whole society and, together with its partners, take on the challenges it is facing as opportunities for industrial development and the strengthening of international competitiveness.*This social implementation, which aims to commercialize an energy management system and operate it in the real world, is partly executed as the "Green Innovation Fund/ Building Smart Mobility Society", a project subsidized by the New Energy and Industrial Technology Development Organization (NEDO), a national research and development agency.For more information, visit https://global.toyota/en/newsroom/corporate/37544407.html. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Suzuki, Daihatsu, Toyota, and CJPT to Introduce Mini-Commercial Van Electric Vehicles in FY2023 JCN Newswire

Suzuki, Daihatsu, Toyota, and CJPT to Introduce Mini-Commercial Van Electric Vehicles in FY2023

July 19, 2022
Toyota City, Japan, Jul 19, 2022 - (JCN Newswire via SEAPRWire.com) - Suzuki Motor Corporation (Suzuki), Daihatsu Motor Co., Ltd. (Daihatsu), Toyota Motor Corporation (Toyota), and Commercial Japan Partnership Technologies Corporation (CJPT) announced that they have agreed to work towards the market introduction of mini-commercial van electric vehicles (BEVs) in FY2023 to achieve carbon neutrality.Mini-commercial vehicles cover areas accessible only to them because of their small size and are important in supporting last-mile logistics. They have become widespread accounting for about 60% of the total commercial vehicle fleet, making them a type of vehicle capable of contributing significantly to the achievement of carbon neutrality if electrification advances.However, a major issue in promoting the electrification of mini-commercial vehicles is the increasing burden on society as a whole, including the higher vehicle costs associated with electrification, the costs related to charging infrastructure, and the charging time (downtime: a period when vehicles and cargo are stopped).It is under these circumstances, to realize an affordable mini-commercial van BEV that meets the usage needs of commercial customers, CJPT will participate in the planning, and Suzuki, Daihatsu, and Toyota will jointly develop a BEV system suitable for mini-commercial vehicles by combining Suzuki and Daihatsu's know-how in manufacturing mini vehicles with Toyota's electrification technology.The mini-commercial van BEV developed by these four companies will be used by partners in social implementation projects in Fukushima Prefecture and Tokyo.Suzuki, Daihatsu, Toyota, and CJPT will continue to promote efforts to practically achieve carbon neutrality through the provision of sustainable means of transportation. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Legend Capital Increases Carbon Neutrality Investments: Portfolio Company Talent New Energy Completes A++ Financing Round with Several Hundred Million RMB ACN Newswire

Legend Capital Increases Carbon Neutrality Investments: Portfolio Company Talent New Energy Completes A++ Financing Round with Several Hundred Million RMB

June 16, 2022
HONG KONG, Jun 16, 2022 - (ACN Newswire via SEAPRWire.com) - Legend Capital's portfolio company Talent New Energy, a new Chinese powerhouse in the solid-state battery industry, recently announced the completion of its Series A++ financing round with several hundred million RMB. Legend Capital initially invested in Talent New Energy by joining the Pre-A financing round and continued to support the company's development by following up this Series A++ financing round.With the improved battery technology and continuous high oil prices, the penetration rate of new energy vehicles is rising. The penetration rate of new energy vehicles in China reached 25.3% in April, and according to the industry forecasts, it will increase to 35% by the end of the year. Under the global background of carbon peaking and carbon neutrality, the wind power, photovoltaic and energy storage industry are also ushering in a golden era, gradually replacing the traditional fossil energy. With the technical advantages of high safety and high specific energy, it is widely believed in the industry that solid-state batteries will become the next trillion-level super track and the ultimate solution for battery technology.Technology innovation is the core path to support the realization of carbon neutrality. With the acceleration of vehicle electrification, applications such as energy storage have opened up a new trillion-level market. Legend Capital actively explores suitable investment opportunities in more advanced lithium battery technologies. As a brand-new technology solution, new energy solid-state batteries have been deeply explored by many giants and startups in China and around the world. With nearly 20 years of international and domestic solid-state battery R&D technology accumulation, the Talent New Energy team has determined the oxide technology route and the gradual development path from mixed solid-liquid to all-solid-state lithium battery since the establishment of the company in 2018.Legend Capital stated: "under the leadership of the founder Dr. GAO Xiang, the Talent New Energy team has been conducting R&D with the goal of industrialization, not only achieving a comprehensive breakthrough in product performance but also making Talent New Energy the leading semi-solid-state battery company in the market in terms of mass production capability. After the completion of the first investment in Talent New Energy last year, Legend Capital has continued to support the company's development by investing in each subsequent round of Talent New Energy's financing, helping the company become a leader in the solid-state battery industry in various aspects such as capital and industrial resources." It is reported that Talent New Energy's first semi-solid-state power battery production line in Chongqing will be put into production in October this year. Talent New Energy said that after this round of financing, the company would accelerate the integration of technological resources to set up an advanced energy materials research institute and a new energy technology industrialization joint R&D center in Beijing. The company is accelerating the mass production and commercialization of semi-solid-state lithium batteries and striving to launch the all-solid-state lithium-ion battery at the end of this year, providing advanced and reliable energy solutions to the new energy vehicle industry and electrochemical energy storage industry and providing "energy blocks" for the construction of new infrastructure for high-efficiency cross-space-time energy storage in the future human society. Under the goals of carbon peaking and carbon neutrality, Legend Capital's investments focus on energy system decarbonization, vehicle electrification/intelligence and synthetic biology. Energy decarbonization includes photovoltaics, wind power, smart grids; vehicle electrification/intelligence includes lithium battery vehicles, hydrogen fuel cell vehicles, battery recycling and others.Legend Capital has long been optimistic about the electrification, intelligence, and automation of new energy vehicles. It has invested in numerous enterprises in automation equipment, lithium batteries and material in the past 10 years, many of which were went public successfully, such as Wuxi Lead Intelligent (300450.SZ), CNGR Advanced Material (300919.SZ), Putailai New Energy (603659.SH), Hymson Laser (688559.SH), Colibri Technologies (002957.SZ). Legend Capital is also one of the early investors of CATL (300750.SZ). Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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