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Wednesday, 11 April 2018, 17:26 HKT/SGT

Source: FDG Electric Vehicles Ltd
FDG Received an Additional Order of 4,500 units of Electric Vehicles; Harvesting from the Well-Planned "Replacement Strategy"

HONG KONG, Apr 11, 2018 - (ACN Newswire) - FDG Electric Vehicles Limited ("FDG", stock code: 0729.HK) is pleased to announce that FDG has signed a purchasing agreement with Shanghai Yidong Vehicles Service Limited ("Shanghai Yidong"). Shanghai Yidong will acquire 4,500 units of premium commercial vehicles from FDG. Of these vehicles ordered, 1,000 units would be delivered to Shanghai Yidong by the end of 2018. FDG has gradually been recognized in the industry amongst top clients after years of well-planned preparation. This is a celebratory moment, a harvesting season for FDG as FDG is now reaping the fruits from our pioneering "Replacement Strategy".

Shanghai Yidong becomes one of the best mobile travel service operators in Eastern China with abundant resources made available by owners of the Shanghai International Automobile City. Since 2017, Shanghai Yidong has been collaborating intensively with FDG in the O2O travel segment. FDG impressed Shanghai Yidong with our advantages in technology, product and customer experience for our premium electric commercial vehicles. This three-year purchase agreement was endorsed by the upcoming requirements of Shanghai Yidong. Likewise, this is also grounded on the recognition for FDG's products and services from our previous cooperation. The e-GLORY electric vehicles Shanghai Yidong ordered will serve in the O2O travel segment for premium commercial use. FDG will offer tailor-made solutions for clients no matter what their needs are.

FDG's spokesperson described the recent continuous orders from clients as a "Tremendous Success" due to a solid, well-planned strategy. FDG was compared with the famous quote that "Rome was not built in a day." The recent successful consecutive orders and the appreciation clients offered were owed to FDG's careful adoption of the "Replacement Strategy". As market conditions constantly evolves, new energy vehicles only take up less than 5% of the total number of vehicles on the road. The fact that FDG has chosen to go down the "Replacement Strategy" and be different from our competitors' mere penetrative ways to gain market share shows that FDG continues to learn modestly from traditional OEMs but is also adaptable to change. FDG continues to optimise our products, improve our services and grow the market, such that ultimately, we could "Replace" the traditional internal-combustion-engine vehicles in various niche segments, thereby increasing FDG's overall NEV market share.

FDG's product strategy in "Simultaneously promoting passenger and commercial vehicles with commercial vehicles as a Priority"is a practical method in the current market environment. FDG continues to place emphasis on the premium electric commercial vehicles market while utlises our pioneering "Replacement Strategy" in niche segments. With increasingly demanding consumers for better quality travel arrangements, inevitably, consumers will ask for better products. For FDG, large consecutive orders such as this one is the best reward to our persisted efforts.

About FDG Electric Vehicles Limited

FDG Electric Vehicles Limited ("FDG", stock code: 0729.HK) is a vertically-integrated pure electric vehicle manufacturer. FDG aims to become a globally recognised producer of more economical, greener and more energy-efficient pure electric vehicles. The Group's core businesses include ground-up research, design and development, and manufacturing and sales of pure electric vehicles; manufacturing and sales of lithium-ion batteries and cathode materials for lithium-ion batteries. FDG Kinetic Limited ("FKL", stock code: 0378.HK) is an indirect non-wholly-owned subsidiary.

For further information about FDG Electric Vehicles, please visit FDG's website at http://www.fdgev.com.

About Shanghai Yidong Vehicles Serivce Limited

Established in December 2014, Shanghai Yidong Vehicles Service Limited ("Shanghai Yidong") is committed to exploring and implementing business models of bus-sharing and shuttle bus-sharing, and has been exploring various business opportunities in the new energy vehicle industry. Shanghai Yidong aims to boost the construction of the International Electric Vehicle Demonstration Zone. With Shanghai International Automobile City Group Limited as its controlling shareholder, Shanghai Yidong has provided travel services to over 600,000 people by the end of 2017. Shanghai Yidong plans to expand its service network to the entire country and to become a leading business travel service provider in the next three years.

Topic: Press release summary
Sectors: Automotive, Daily News
From the Asia Corporate News Network

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