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Thursday, 5 November 2015, 21:55 HKT/SGT
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Source: Powerwell Pacific Holdings Limited
Powerwell Pacific Actively Develops Electric Vehicle Business
Brighsun's Electric Vehicles Run a Long Distance with a Single Charge
Vehicles Enjoy a Strong Response at Australia's Showcase Event

HONG KONG, Nov 5, 2015 - (ACN Newswire) - Powerwell Pacific Holdings Limited ("Powerwell Pacific" or the "Group", stock code: 8265) is pleased to announce that Brighsun EV-tech Co., Limited ("Brighsun"), in which the Group is a shareholder, has recently concluded a highly successful international promotional event in Melbourne, Australia at the end of October. A highlight of the activity was demonstrating how its electric bus can travel from Melbourne to Sydney directly with only one single charge. Apart from gaining extensive attention from Australia's local as well as international media, Mr. Greg Hunt, Minister for the Environment of Australia also announced and confirmed that Brighsun's electric buses could run more than 810 km with a single charge while its coaches could travel more than 1,000 km after charging just once.

Brighsun, a joint venture by Powerwell Pacific and Brighsun New Energy Pty Ltd ("Brighsun Group"), has successfully secured the exclusive right to sell Brighsun Group's electric buses and coaches in the Greater China region, namely Mainland China, Hong Kong, Macau and Taiwan. Delivering a solid long-distance performance, the vehicles can reduce emissions and save energy. This represents the first significant breakthrough for this type of environmentally-friendly new energy technology in the industry and resolves many long-term technological problems, such as short battery life, a restricted driving range and long charging time. These advances mark a new milestone in the motive battery and electric vehicle industries.

The world-leading lithium ion motive battery developed by Brighsun Group can be used in pure electric buses and coaches. The battery's driving range is from 500 km to 800 km, at least 35% longer than the general batteries for environmental vehicles. The recycling rate of the battery reaches 70%, its production cost is 30% lower than the market average, and its battery can be charged up to 3,000 times. The battery has passed more than 30 safety inspection tests, demonstrating superior safety features compared to similar products produced locally and internationally. Also, it has attained certification from Enex Testlab, an authoritative testing organisation in Australia.

Mr. FEI Jie, Chairman and Executive Director of Powerwell Pacific, said, "Given the increasing consumer awareness of environmental protection and in view of recent development trends of the electric vehicle industry, Powerwell Pacific targets the huge potential of the global electric vehicle market. Following the recent investment in Brighsun, the Group intends to purchase the production facilities to produce and sell new electric vehicles and their lithium ion batteries. This represents an important strategy to realise the Group's goal to further expand into the electric vehicle market. Powerwell Pacific is leveraging Brighsun's advantages in leading-edge technology to actively develop the electric vehicle business in the Greater China."

About Powerwell Pacific Holdings Limited

Powerwell Pacific Holdings Limited (stock code: 8265) is principally engaged in the provision of sourcing and procurement solutions to customers for production of watches, costume jewelries, and display and packaging products, as well as the retail of luxury brand silverware and silver utensils in the PRC. The Group has entered the electric vehicles business via its investment in Brighsun EV-Tech Co., Limited.

Contact:
Strategic Financial Relations Limited
Ms. Veron NG    (852) 2864 4831  [email protected] 
Ms. Fanny YUEN  (852) 2864 4853  [email protected]
Ms. Betty DONG  (852) 2864 4861  [email protected]


Source: Powerwell Pacific Holdings Limited

Topic: Press release summary
Sectors: Automotive, Energy, Daily News
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