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Auto-Vox Solar Series: The Eco-Friendly Backup Camera Delivering a Seamless Driving Experience
SHENZHEN, China, Sept. 12, 2024 /PRNewswire/ -- Auto-Vox is dedicated to enhancing driving safety, and the Solar Series embodies this commitment with its intelligent and convenient products. The flagship model, Solar 1 Pro, delivers a new driving experience for everyday car owners, offering "Save Time. Save Money. Drive Safely" features. Its innovative design and superior performance have made it a top choice for many users. Key Features of the Auto-Vox Solar Series: Seamless Installation is ready in just 3 minutes.Designed with the user in mind, the Solar Series eliminates the hassle of complicated wiring and drilling typically needed for traditional back up camera. Installation takes just 3 minutes and requires no technical know-how or the expense of hiring a professional. This quick and easy setup not only saves you hours but also puts hundreds of dollars back in your pocket. Eco-Friendly and Energy Saving, Solar-Powered.The Solar Series charges through its built-in high-efficiency solar panel, aligning with modern sustainability trends. This eco-conscious design not only reduces the need for traditional power sources but also provides a low-maintenance, long-lasting experience for drivers. Wireless Connection, Consistent Display.Featuring cutting-edge wireless transmission technology, the Solar Series delivers stable and reliable performance, allowing you to confidently navigate any parking or reversing situation with ease. Giveaway and Best DealAs the flagship product of the Solar Series, the Solar 1 Pro will be the centerpiece of a special giveaway event from September 12 to 30. Participants will have the chance to win this product and enjoy the latest Auto-Vox technology. For more details, follow Auto-Vox on Instagram. Additionally, a Best Deal will be held on Amazon starting September 16, where the Solar 1 Pro will be available at an unbeatable price as a special thank-you to our loyal customers. Following that, stay tuned for the launch of new Solar Series products in October, bringing even more exciting innovations to enhance your driving experience. Auto-Vox remains committed to delivering a safer and more eco-friendly driving experience through innovation and technology. To learn more about the Solar Series, visit official website or check us out on Amazon.
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Performance Motors brings the first BMW and MINI showroom and service centre to Ayutthaya and nearby provinces
BMW Group Thailand, in collaboration with authorised BMW dealer Performance Motors (Thailand), under Sime Darby Motors, expands its presence in central Thailand with the opening of a new full-fledged showroom in Ayutthaya. With the investment of THB 340 million, the Performance Motors Ayutthaya is embracing with the "Retail Next" concept, emphasising customer service excellence. The facility features a distinctive design incorporating red brick elements, paying homage to Ayutthaya's artistic heritage. Spanning over 5.5 rai, the showroom offers a comprehensive range of BMW and MINI models, alongside a certified body and paint centre, delivering an unparalleled level of service to BMW and MINI enthusiasts in Thailand. Mr. Rene Gerhard, President and CEO of BMW Group Thailand, said, "Performance Motors has been a key partner in our shared success in the Thai automotive market for many years. This expansion into central Thailand marks a significant milestone, allowing us to better serve MINI and BMW afficionados in Ayutthaya, Saraburi, Singburi, and Ang Thong provinces. Customers will enjoy greater access a wide range of vehicle selection and full-service offerings more conveniently. We are confident that Performance Motors Ayutthaya will deliver an excellent end-to-end experience to customers, from test drive experience and after-sales services to tailored vehicle options for both BMW and MINI that meet each customer needs." Performance Motors Ayutthaya is the fifth full-fledged showroom for BMW and MINI vehicles under Performance Motors (Thailand) after launching a full-fledged facility with its first BMW M Certified Showroom in Ratchapruek last year. Performance Motors currently operates 4 BMW showrooms, 1 MINI showroom, 2 BMW Premium Selection outlets and 3 BMW Certified Body and Paint Centres in Thailand. Designed with the "Retail Next" concept and incorporating Ayutthaya's world heritage through exposed red brick interiors, the facility spans over 5.5 Rai (8,800 square metres). The showroom and office area covers 1,800 square metres, accommodating up to 10 display vehicles. The BMW and MINI Certified Body and Paint Centre, spanning 2,200 square metres, can provide repair and refinishing services up to 4 vehicles simultaneously, with a daily capacity of 12 vehicles. Mr. Paul Chan Aing Sheng, Managing Director of Performance Motors (Thailand) Co., Ltd. said, "At Performance Motors, our customers have always been our top priority, as we have been consistently delivering products and services that exceed customers’ expectations. Today, we are delighted to launch Performance Motors Ayutthaya, expanding our reach beyond Bangkok for the first time and it is also the first time that we are bringing the MINI brand experience closer to customers across four provinces. This strategic move enhances our ability to offer comprehensive products and services to both BMW and MINI customers. Since 2021, we have invested a total investment of one billion baht, reflecting our confidence and commitment to the BMW Group in Thailand. With our long-standing experience as an authorised BMW dealer, superior standards, and a team of automotive experts, we are confident that Performance Motors will continue to drive strong growth for both our company and the BMW Group in Thailand." Performance Motors Ayutthaya is ready to welcome customers from today onwards, located at 9/99 Moo 7, Tambon Ban Krot, Bang Pa-in, Phra Nakhon Sri-Ayutthaya 13160. For more information, contact 0-3588-0999, email info@bmw-performancemotors.com or visit www.bmw-performancemotors.com
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MingZhu Logistics to Acquire HOLDCO 36 in Transformational Business Combination
SHENZHEN, China, Sept. 12, 2024 /PRNewswire/ -- MingZhu Logistics Holdings Limited ("MingZhu" or the "Company") (Nasdaq: YGMZ), an elite provider of logistics and transportation services to businesses, today announced the acquisition of HOLDCO 36 in a transformational business combination. The closing of the all-stock acquisition is subject to customary closing conditions, including regulatory approvals. Mr. Jinlong Yang, Chairman and Chief Executive Officer of MingZhu, commented, "As part of our active M&A process, we have evaluated a series of potential transactions, with regard to long-term potential, valuation, and alignment with building shareholder value. We are excited about the proposed acquisition of HOLDCO 36 because it would immediately transform our business into higher growth, burgeoning market segments with a favorable regulatory environment and underlying demand catalysts. Upon successful deal closure and integration, we would expect to see a meaningful creation of value for all shareholders." For assets and projects being injected, parties are with explicit understanding that the projects contributed by HOLDCO 36 and their conditions may change but new projects are always being secured and developed to either be added or be replacing non-active ones. Initial business assets and operations being acquired are expected to include: Green Fuel Smart Trading Platform: A comprehensive global distribution platform for biofuels, natural gas, hydrogen-based fuels, methanol, and related equipment. This platform aims to establish itself as the OPEC of green biofuels, facilitating the trade and distribution of sustainable fuel sources worldwide. EPC+O: Engineering, Procurement, Construction, and Operations for biomass energy, and new energy systems such as wind, solar, storage, hydrogen, and ammonia EPC engineering productions systems. Using the existing ECaaS to provide distributed biomass "carbon-electricity-biomass energy" co-generation solutions. The business provides wind, solar, storage, green hydrogen, and green ammonia and green fuel EPC consulting services to clients in Americas, Asia, Africa and Europe. Power Leasing and Energy: Developed an intelligent financial service platform for sales and lease financing for green and lightweight vessels, maritime equipment and lightweight materials for vessels. Digital Energy Services Segment for the Steel Industry: Innovating a smart virtual power plant for closed-loop virtual scenarios targeting steel mills worldwide, supporting local distributed energy operations and usage. Managing national zero-carbon industrial parks for the steel industry and voluntary carbon reduction, which provides carbon credit, supply chain carbon verification, green certificate trading and verification. About MingZhu Logistics Holdings Limited (Nasdaq: YGMZ) Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings Limited is a 4A-rated professional trucking service provider. Based on the Company's regional logistics terminals in Guangdong Province, MingZhu Logistics Holdings offers tailored solutions to our clients to deliver their goods through our network density and broad geographic coverage across the country by a combination of self-owned fleets tractors and trailers and subcontractors' fleets. For more information, please visit ir.szygmz.com. Forward-Looking Statements The statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, goals, objectives, strategies, future events, expected performance, assumptions and any other statements of fact that have not occurred. Any statements that contain the words "may", "will", "want", "should", "believe", "expect", "anticipate", "estimate", "calculate" or similar statements that are not factual in nature are to be considered forward-looking statements. Actual results may differ materially from historical results or from those expressed in these forward-looking statements as a result of a variety of factors. These factors include, but are not limited to, the Company's strategic objectives, the Company's future plans, market demand and user acceptance of the Company's products or services, technological advances, economic trends, the growth of the trucking services market in China, the Company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, fluctuations in China's macroeconomic conditions, and the risks and assumptions disclosed in the Company's reports provided to the CSRC (China Security Regulatory Commission). The potential acquisition involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements including but not limited to statements about the potential benefits of the potential acquisition; the anticipated timing of closing of the potential acquisition (including failure to obtain necessary regulatory approvals) and the possibility that the potential acquisition does not close; risks related to the ability to realize the anticipated benefits of the potential acquisition, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period; the risk that the businesses will not be integrated successfully; disruption from the potential acquisition making it more difficult to maintain business and operational relationships; negative effects of announcing the potential acquisition or the consummation of the potential acquisition on the market price of our common stock or operating results; costs associated with the potential acquisition; unknown liabilities; and the risk of litigation and/or regulatory actions related to the potential acquisition. For these and other related reasons, we advise investors not to place any reliance on these forward-looking statements, and we urge investors to review the Company's relevant SEC filings for additional factors that may affect the Company's future results of operations. The Company undertakes no obligation to publicly revise these forward-looking statements subsequent to the filing of these documents as a result of changes in particular events or circumstances.
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Cheche Group Announces Partnership with Great Wall Motor's Insurance Brokerage
BEIJING, Sept. 12, 2024 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche" or the "Company"), China's leading auto insurance technology platform, today announced that it has entered into a partnership with Laoyou Insurance Brokerage Co., Ltd. ("Laoyou Insurance"), as Cheche continues to increase its collaborations with auto manufacturers in China. Laoyou Insurance is a wholly controlled subsidiary of Great Wall Motor Company Limited ("GWM"), a top ten Chinese auto manufacturer that largely produces sport-utility vehicles and pick-up trucks with brands such as Haval, Wey, Tank, Poer, and Ora. Cheche's insurance solutions and mature transaction system have been gradually rolled out in conjunction with GWM's newly established direct-sales network, operated by Great Wall Smart Selection Information Technology (Baoding) Co., LTD ("Smart Selection"), in more than 20 cities nationwide. "Our new partnership with Laoyou Insurance, like our recently announced collaboration with BAIC Group's insurance provider, Beijing Anpeng, demonstrates Cheche's commitment to an evolving business model that readily engages major domestic automotive manufacturing groups," said Lei Zhang, Founder, CEO, and Chairman of Cheche. "This agreement highlights the success of our efforts to establish successful business partnerships with both new energy vehicle manufacturers and traditional automakers." As GWM's Smart Selection direct-sales network continues to expand, Cheche's comprehensive insurance service offerings, such as contracts management services, insurance operation services and insurance products design, are growing accordingly. Cheche plans to develop a comprehensive insurance solution tailored for traditional automakers within one to two years. Safe Harbor Statements This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding existing and new partnerships and customer relationships, projections, estimation, and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the Company's ability to scale and grow its business, the Company's advantages and expected growth, and its ability to source and retain talent, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company's management and are not predictions of actual performance. These statements involve risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance, or achievements to materially differ from those expressed or implied by these forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. The forward-looking statements in this press release represent the views of the Company as of the date of this press release. Subsequent events and developments may cause those views to change. Except as may be required by law, the Company does not undertake any duty to update these forward-looking statements. About Cheche Group Inc. Established in 2014 and headquartered in Beijing, China, Cheche is a leading auto insurance technology platform with a nationwide network of around 108 branches licensed to distribute insurance policies across 25 provinces, autonomous regions, and municipalities in China. Capitalizing on its leading position in auto insurance transaction services, Cheche has evolved into a comprehensive, data-driven technology platform that offers a full suite of services and products for digital insurance transactions and insurance SaaS solutions in China. Learn more at https://www.chechegroup.com/en. Cheche Group Inc.:IR@chechegroup.com Crocker Coulsoncrocker.coulson@aummedia.org(646) 652-7185
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Hyundai and GM Sign Memorandum of Understanding to Explore Collaboration on Vehicles, Supply Chain and Clean-Energy Technologies
Hyundai Motor and GM to investigate joint product development, manufacturing and future clean energy technologies Both companies to target improved efficiencies and increased competitiveness through collaboration NEW YORK, Sept. 12, 2024 /PRNewswire/ -- General Motors (NYSE: GM) and Hyundai Motor Company (KRX: 005380 KS) have signed an agreement to explore future collaboration across key strategic areas. (From left) Mary Barra, GM Chair and Chief Executive Officer; Euisun Chung, Executive Chair of Hyundai Motor Group GM and Hyundai will look for ways to leverage their complementary scale and strengths to reduce costs and bring a wider range of vehicles and technologies to customers faster. Potential collaboration projects center on co-development and production of passenger and commercial vehicles, internal combustion engines and clean-energy, electric and hydrogen technologies. The two leading global OEMs also will review opportunities for combined sourcing in areas such as battery raw materials, steel and other areas. The framework agreement was signed by Hyundai Motor Group Executive Chair Euisun Chung and GM Chair and CEO Mary Barra. Barra said a partnership between the two companies has the potential to make vehicle development more efficient by driving greater scale and supporting disciplined capital allocation. "GM and Hyundai have complementary strengths and talented teams. Our goal is to unlock the scale and creativity of both companies to deliver even more competitive vehicles to customers faster and more efficiently," said Barra. Hyundai and GM's flexibility and agility will allow both companies to explore the development of their shared capabilities. "This partnership will enable Hyundai Motor and GM to evaluate opportunities to enhance competitiveness in key markets and vehicle segments, as well as drive cost efficiencies and provide stronger customer value through our combined expertise and innovative technologies," said Chung. Following the signing of the non-binding Memorandum of Understanding, assessment of opportunities and progression towards binding agreements will begin immediately. Cautionary Note on Forward-Looking Statements: This press release and related comments by management may include "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent our current judgment about possible future events and are often identified by words such as "anticipate," "appears," "approximately," "believe," "continue," "could," "designed," "effect," "estimate," "evaluate," "expect," "forecast," "goal," "initiative," "intend," "may," "objective," "outlook," "plan," "potential," "priorities," "project," "pursue," "seek," "should," "target," "when," "will," "would," or the negative of any of those words or similar expressions. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is GM's battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com. Hyundai Motor CompanyEstablished in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision 'Progress for Humanity,' Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider. The company invests in advanced technologies such as robotics and Advanced Air Mobility (AAM) to bring about revolutionary mobility solutions while pursuing open innovation to introduce future mobility services. In pursuit of a sustainable future for the world, Hyundai will continue its efforts to introduce zero-emission vehicles equipped with industry-leading hydrogen fuel cell and EV technologies.More information about Hyundai Motor and its products can be found at:http://worldwide.hyundai.com or http://globalpr.hyundai.com (From left) Shilpan Amin, GM Senior Vice President and President GM International; Mark Reuss, President, General Motors; Mary Barra, GM Chair and Chief Executive Officer; Euisun Chung, Executive Chair of Hyundai Motor Group; Jaehoon Chang, President and CEO of Hyundai Motor Company; José Muñoz, Global President and COO of Hyundai Motor Company
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Smart Charging Revolution: Elecq Unveils Full Lineup at RE+ 2024
- The advanced technology company is set to shake the market ANAHEIM, Calif., Sept. 12, 2024 /PRNewswire/ -- Elecq, a technological innovation company focusing on smart charging, impressed attendees at RE+ 2024 with its innovative solutions. The company showcased a comprehensive range of AC charging products, such as Elecq Home, Elecq Biz, as well as the DC Series including Station 60, Dispenser 200/400, Dispenser 600 (liquid-cooling dispenser), and Power Center 300, capturing significant attention at North America's largest clean energy event. ELECQ Debuts Its Full Product Lineup at RE+ 2024 "With a vision of becoming the world's leading smart charging solution provider, Elecq develops its charging products entirely in-house, ensuring complete control over our core technologies. The products and solutions we are showcasing at the RE+ demonstrate our dedication to combining digital and power electronics technologies to create intelligent, efficient, and reliable smart charging networks," said Simon Wan, CEO of Elecq. "By adhering to 'Charge More with Less', we are committed to delivering high-efficiency, cost-effective solutions. " Elecq Home: Impressively Smart, Impossibly Easy Elecq Home is specifically designed for residential scenarios. It features smart charging to reduce infrastructure and electricity costs, and its installer-friendly design minimizes installation time and expenses. The "Bill-saving smart" feature can save up to 30% on charging costs by identifying the cheapest local electricity rates and optimizing charging speed through the Elecq APP. Elecq Biz: Massive Connectivity, Stunning Economy Elecq Biz offers the fastest AC charging speed in the industry at 19.2kW, making it an efficient choice. When paired with Elecq Power Master, Elecq Biz delivers exceptional connectivity for networks of up to 500 chargers, ensuring stable, self-organizing systems that seamlessly integrate together. Its installer-friendly design allows for rapid setup, with each unit taking only 10 minutes to install and NFC preloaded configuration possible without powering on the chargers, saving both time and cost. Furthermore, Elecq Biz is bill-saving smart thanks to the evolving Elecq Cloud. It enables businesses to save up to 30% on charging expenses by identifying the cheapest local electricity rates and balancing power usage. It is V2G-ready, complying with ISO 15118-20 to optimize energy costs and reduce peak grid loads. DC Series: Beyond Fast, Stepless Flexibility The Station 60, part of the DC Series, is a groundbreaking charger that has garnered significant praise from industry experts for its innovative features that offer unparalleled flexibility, efficiency, and uptime. As the first wall-mountable 60kW fast charger and the first DC charger groupable up to 200kW, it features a unique design that allows for seamless power sharing across multiple outlets, maximizing power efficiency and preventing power waste during distribution. Elecq's self-developed AC/DC and DC/DC modules enhance product configuration flexibility. In addition to Station 60, various combinations of these modules also create the Dispenser 200/400/600 and the Power Center 300. The DC series excels in dynamic load management, distributing power efficiently across single or multiple outlets, enhancing its flexibility. With a best-in-class efficiency of 97.2% from grid to vehicle and up to 98% efficiency with solar, ESS, and vehicle-to-vehicle charging, it sets a new standard in energy efficiency. All these innovations can be attributed to Elecq's R&D team with a deep technical background and their adoption of one of the most advanced software technology architectures. It utilizes cutting-edge software architecture to guarantee system security and reliability, enabling rapid ecosystem integration and efficient delivery with continuous iteration. In addition, Elecq boasts impressive laboratory capabilities, utilizing hardware equipment from well-known manufacturers to ensure top-of-the-line quality. For more details, visit Elecq's booth (booth N83029, North Hall 100) at RE+ 2024, or visit its website at https://www.elecq.com/.
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Generating the Electric Era: The Premium Lynk & Co Z10 Launches to Market
HANGZHOU, China, Sept. 11, 2024 /PRNewswire/ -- On September 5th, Lynk & Co officially announced the launch of the brand's first all-electric model, Lynk & Co Z10. Built on the world-class intelligent electric architecture, the SEA (Sustainable Experience Architecture), Lynk & Co Z10 is the brand's first all-electric premium E-Class sedan, elevating the brand towards a new phase of electric era. The brand new Lynk & Co Z10 model follows Lynk & Co's design philosophy of "Mega-City Contrast", utilizing and upgrading its exterior with the second-generation design language, "The Next Day", to bring a unique, futuristic and identifiable design. The model also incorporates prospective technological elements to give the vehicle an atmospheric and dynamic visual impact, as well as a modern and timeless stance. Based on different time phases of the metropolitan sunrise, the model introduces multiple car colors and corresponding interior colors, which are highly harmonious and unified, echoing the changing light and shadow of the environment. It embodies the concept of aerodynamics and combines a number of wind resistance optimization designs, achieving a drag coefficient of 0.198Cd for the entire vehicle, which effectively improves the driving range of this model. Lynk & Co Z10 also provides powerful and exceptional performances on road, achieving 0-100km/h acceleration in just 3.5 seconds. Structured based on the SEA, this model guarantees outstanding power and control, offering users with premium and comfortable driving experience. Lynk & Co Z10 also inherits the racing DNA of Lynk & Co, for different driving modes, it has undergone more than 800 hours of professional race track tuning, and more than 500 hours of mountain road tuning, to further enhance the unique driving pleasure of users. While upgrading the driving experience, Lynk & Co Z10 also ensures a high level of user travel safety. Based on comprehensive safety, it optimizes the body and battery of the product, far exceeding industry safety standards. The battery in this product has passed a number of extreme industry tests, ensuring battery safety in all aspects. With premium quality and leading technology, Lynk & Co Z10 has led the brand to achieve the parallel operation of three power modes: fuel, plug-in hybrid and all-electric, and has significantly started a new era for the brand. In the future, Lynk & Co will bring more products to the international market, providing various power options, and continue to further change mobility for better experiences. About Lynk & Co: Launched in 2016, Lynk & Co is created for the new generation of open urbanites. Lynk & Co is not just a new car brand but a new brand in the car industry. Born global, open, and connected, the brand aims to build an open platform connecting people, cars, and the world. Contact: lynkco.media@lynkco.com
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Asia's First Reveal of the De Tomaso P72 at the "Wynn Signature - 2024 Hypercar Exhibition"
MACAU, Sept. 11, 2024 /PRNewswire/ -- In a momentous occasion for automotive enthusiasts and luxury connoisseurs alike, Wynn is pleased to reveal the De Tomaso P72 for the first time in Asia at the "Wynn Signature – 2024 Hypercar Exhibition". This extraordinary vehicle is now on display at Wynn Palace from now through October 13, offering visitors a rare glimpse into the future of automotive artistry. Asia’s first reveal of the De Tomaso P72 at the “Wynn Signature – 2024 Hypercar Exhibition” The De Tomaso P72 made its debut at Wynn Palace, and stands proudly in the South Atrium, inviting guests and visitors to marvel at its beauty and engineering prowess. Beneath its sculpted hood lies a formidable 5.0L Supercharged V8 engine, delivering an impressive 750 horsepower and 900Nm of torque. This powerplant strikes the perfect balance between raw power and usable performance, ensuring the P72 is equally at home on scenic drives or challenging racetracks. Whilst having a cutting-edge, bespoke all carbon-fibre chassis the P72 features a design with perpetual beauty and a proper manual transmission – a car for all generations. The "Wynn Signature – 2024 Hypercar Exhibition" at Wynn Macau and Wynn Palace showcases 30 of the world's rarest, ultra-luxury hypercars valued at HK$1.5 billion, including De Tomaso as well as Apollo, Aston Martin, Bugatti, Ferrari, Gunther Werks (renowned for remastering the Porsche), Koenigsegg, Lamborghini, McLaren, Pagani, and more masterpieces. Many of these stunning hypercars are on display in Macao for the first time at this unprecedented Wynn Signature collection, making the exhibit a true testament to the "Only at Wynn" experience. The goal of this exhibition is to give visitors an opportunity to experience Wynn's exclusive signature lifestyle offerings and highlight the unique diversity of Macao as a "World Center for Tourism and Leisure" through the 'Tourism +' model. Throughout the "Wynn Signature – 2024 Hypercar Exhibition", Wynn Macau and Wynn Palace are presenting a series of activities and exciting events to complement the exhibit including innovative racing-themed culinary surprises at signature restaurants, special promotional offers from designated retail stores at Wynn Palace, and a "Fast & Furious" pop-up store is set up at the "Hypercar Shop", where racing enthusiasts may purchase a variety of limited-time only racing-themed products and immerse themselves in multi-sensory experiences. In celebration of the 18th anniversary of Wynn Macau and the 8th anniversary of Wynn Palace, visitors will not want to miss out on "Wynn's Anniversary Extravaganza: High-Speed Thrills Grand Lucky Draw"! For the grand lucky draw prize, Wynn is giving away a racing track / paddock experience worth MOP388,888. From now through October 13, visitors who spend MOP18,000 or more at The Shops at Wynn Macau and Wynn Palace will also have a chance to receive shopping vouchers worth up to MOP30,000. Wynn's exclusive lifestyle brand, "Wynn Signature" delivers a culmination of premium experiences including exceptional gastronomy, top-tier resort diversions, up-close encounters with leading luxury brands from around the world and exciting lifestyle events, for an unforgettable #OnlyAtWynn experience.
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Kia EV3: Sustainable mobility, simplified - EV accessibility, amplified
Kia EV3 offers accessible, sustainable electric mobility as part of elevated SUV experience World-first cutting-edge technologies enable customers to unlock new dimensions from EV3, enhancing driving and ownership experience Kia plans to introduce an AWD variant as well as a GT model, expanding the range of choice beyond the current 2WD models. SEOUL, South Korea, Sept. 11, 2024 /PRNewswire/ -- When Kia unveiled the EV3 in May this year, the brand showcased a vehicle that would make effortless, sustainable mobility more accessible. To deliver on that commitment, Kia's new compact all-electric SUV features industry-leading technology, a WLTP driving range of up to 600km and fast-charging capability. Kia EV3 offers accessible, sustainable electric mobility as part of elevated SUV experience Kia EV3 offers accessible, sustainable electric mobility as part of elevated SUV experience Kia was determined to create an all-electric SUV that would raise the bar for what's expected of a compact electric model. Achieving this meant drawing up an entirely new set of parameters, enabling customers to enjoy a range of lifestyle and driving features previously unavailable in this sector. Pioneering world-first technology sits at the heart of the EV3, with Kia's engineers ensuring these innovations bring genuine benefits to the EV3's occupants. i-Pedal innovations Kia has evolved its regenerative braking technology for the EV3 with its upgraded i-Pedal 3.0, which takes the concept of one-pedal driving to the next level to deliver greater enjoyment and efficiency. It offers the driver much more flexibility and control by separating the level of regenerative braking from the full stopping control function. Smart tech for stress-free driving The Kia EV3 is the first car to feature Hyundai Motor Group's Smart Regenerative System 3.0 technology. While Kia's previous system relied solely on GPS information, this latest version incorporates a wider variety of navigation-based data, unlocking an array of advantages for the driver. Reassuring range and advanced aerodynamics The EV3 is equipped with the largest battery in its class. The 81.4 kWh fourth-generation unit boasts approximately 22 percent higher energy density compared with the Niro EV. Combined with variety of aerodynamic features, the EV3 glides smoothly through the air with a drag coefficient of 0.26Cd. Efficient driving in all conditions The EV3 is the first vehicle in the world to deploy a simultaneous heat absorption system, enabling it to recycle waste heat not just from the vehicle, but also outside air to optimize efficiency. The advanced heat pump technology significantly improves its ability to protect battery performance and charge quickly in cold weather. For more information, please visit www.kianewscenter.com
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Bridging the Gap: How Numocity's Roaming Hub is accelerating EV Adoption
BENGALURU, India, Sept. 9, 2024 /PRNewswire/ -- As the electric vehicle (EV) market grows, many people are still hesitant to switch because of "range anxiety"—the fear of not finding a charger when needed. This has slowed down EV sales for auto manufacturers, even though demand for sustainable mobility is rising. On the other hand, Charge Point Operators (CPOs), who have invested in charging infrastructure, are facing low usage rates. This makes it hard for them to get a return on their investment, slowing down the growth of the entire EV ecosystem. Roaming & Interconnect Hub by Numocity Numocity's EV Roaming hub (NumoHub) addresses this very problem by creating an interconnected EV charging network. Founded by Ravikiran Annaswamy & Siddharth Sreenivasan in 2018, Numocity is a global leader in Digital EV charging platforms. The Roaming Hub launched in India a year back now supports over 10,000 fast and slow chargers spanning over 20 CPOs in India. NumoHub allows EV drivers to easily discover, charge, and pay for charging across multiple networks—using a single mobile-app or a common RFI card. This unified solution embeds the charging experiences into existing super apps, vehicle OEM mobile apps, fleet applications and many more. One of the market successes has been the K-Charge option on KIA EV Driver mobile application, powered by NumoHub, drivers can discover several fast chargers in India and experience the whole charging from the driver app. This solution directly addresses range anxiety by giving drivers the freedom to travel without worrying about where they will charge next. It's also a boon for auto manufacturers, as the ability to roam between charging networks removes one of the biggest barriers to EV adoption, helping to boost sales. Beyond individual drivers, NumoHub is also empowering fleet operators. The platform's smart charging and energy management features allow fleets to schedule charging balance loads and optimize energy consumption—all while reducing costs. These capabilities help large fleets operate more efficiently while ensuring the power grid remains stable. On the supply side, CPOs benefit from increased charger utilization, thanks to NumoHub's integration with several interfaces. This expanded customer base and enhanced efficiency are helping CPOs attract more customers and build loyalty. NumoHub plans to be the largest roaming and interconnect platform in India, connecting the growing charging network and expects a network of over 100,000 chargers by 2030. Additionally NumoHub is now being launched in several countries in a phased manner and with initial market success there seems to be a major potential to influence EV adoption globally. Numocity's platforms are designed for localization in each region, offering multiple payment options, multi-language support, and seamless integration with local charging providers— making it the ideal solution for the growing EV ecosystem. Numocity's Roaming Hub is paving the way for a more connected and efficient future for electric mobility, to charge on the go! Contacts: Phone: +91 8047094151Email: contact@numocity.com
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SunCar Technology Group Inc. Schedules Earnings Conference Call for the First Half of Fiscal Year 2024 on Monday, September 16th at 8 a.m. ET
NEW YORK, Sept. 9, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, will announce its financial results for the first half of fiscal year 2024 on Monday, September 16th before the market opens. SunCar will host a conference call on Monday, September 16th at 8:00 AM ET (5:00 AM PT) with the investment community to discuss the Company's financial results and provide a business update. Investors may submit written questions by September 12th via e-mail to: IR@suncartech.com. CONFERENCE CALL & AUDIO WEBCAST To access the call by phone, please dial 1-877-407-0752 (international callers please dial 1-201-389-0912) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available online at https://viavid.webcasts.com/starthere.jsp?ei=1688435&tp_key=b4a21ff1d5. A webcast replay will also be available for a limited time at the following link: https://viavid.webcasts.com/starthere.jsp?ei=1688435&tp_key=b4a21ff1d5. About SunCar Technology Group Inc. Originally founded in 2007, SunCar is transforming the customer journey for auto services and auto insurance in China, the largest passenger vehicle market in the world. SunCar develops and operates cloud-based platforms that seamlessly connect drivers with a wide range of auto services and insurance coverage options through a nationwide network of sales partners. As a result, SunCar has established itself as the leader in China in the B2B auto services market and the auto eInsurance market for electric vehicles. The Company's multi-tenant, cloud-based platform empowers its enterprise clients to access and manage their customer database and offerings optimally, and drivers gain access to hundreds of services from tens of thousands of independent providers in a single application. For more information, please visit: https://suncartech.com. Forward Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Contact Information: SunCar:Investor Relations: Ms. Hui JiangEmail: IR@suncartech.com Legal: Ms. Li ChenEmail: chenli@suncartech.com U.S. Investor RelationsMatthew Abenante, IRCPresidentStrategic Investor Relations, LLCTel: 347-947-2093Email: matthew@strategic-ir.com
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The First in the Global Lidar Industry: Hesai Obtained ISO 21448 Intended Functional Safety Process Certification
PALO ALTO, Calif., Sept. 9, 2024 /PRNewswire/ -- Hesai Technology, a global leader in the lidar industry, has successfully passed a rigorous audit by TÜV SÜD and obtained the ISO 21448 Safety of the Intended Functionality (SOTIF) certification based on ISO 26262 functional safety and a QMS framework. This makes Hesai the first in the global lidar industry to receive this certification. It highlights Hesai's advanced process system for safety and its integration of best practices into research and development. Since 2021, Hesai has focused on creating a "3-in-1" safety system that combines functional safety, SOTIF, and cybersecurity within its lidar product design. As the first company in the industry to achieve certifications in ISO 26262, ISO/SAE 21434, and ISO 21448, Hesai's "safety triangle" guarantees precise and reliable data input for intelligent driving. Safety is the foundation of intelligent driving, and as autonomous driving technology advances, perception hardware like lidar faces increasingly stringent safety requirements. Lidar's role as a key sensor makes it vital to overall vehicle safety. SOTIF for lidar includes analyzing functional limitations, particularly under conditions like bad weather, vibrations, and electromagnetic interference. Hesai continuously optimizes lidar design to mitigate these factors, ensuring safety in complex environments. ISO 21448:2022, "Road vehicles - Safety of the Intended Functionality," is the first SOTIF standard established by the International Organization for Standardization (ISO). The standard ensures that various operational scenarios are considered during design and operation, mitigating potential safety risks from system performance limitations or human error. By studying relevant standards, regulations, and best practices, Hesai has built a scenario library dimension table for testing perception features driven by lidar data. This table comprehensively covers seven core categories, including vehicle operating scenarios, environmental conditions, and sensor states, subdivided into hundreds of specific scenarios, evaluating lidar performance from all angles and reducing the likelihood of unknown hazardous states. This enables the system to remain safe in a broader range of scenarios. For instance, Hesai's proprietary active interference rejection technology independently encodes each laser pulse, effectively isolating interference from external lidar signals. Additionally, Hesai's dirt diagnosis feature identifies and reports dirt on the lidar's window, converting dirt into actionable data for intelligent driving systems, which enhances lidar safety and stability in practical applications. Another breakthrough from Hesai is the world's first Intelligent Point Cloud Engine (IPE), which marks and filters out more than 99.9% of environmental noise, such as rain, fog, vehicle exhaust, and dust, in real-time. This technology significantly reduces misidentifications and false triggers, making lidar more stable in adverse conditions. Hesai's SOTIF certification, based on ISO 26262 functional safety and a QMS framework, enhances intelligent driving by clarifying system limitations caused by interference. This approach enhances the safety of the intelligent driving system, significantly expands the operational design domain, reduces the need for takeovers, and improves both user safety and driving experience.
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Yadea Showcases Advanced Electric Two-Wheelers at IFA Berlin 2024, Leading the Way in Sustainable Mobility
BERLIN, Sept. 9, 2024 /PRNewswire/ -- The Internationale Funkausstellung Berlin (IFA), the top-tier international tech fair, opened in Berlin, Germany from September 6th to 10th. Coinciding with the 100th anniversary of IFA, Yadea, the world's largest electric two-wheeler brand, makes another appearance with its flagship electric bikes, electric scooters, and cutting-edge green riding technology, impressing the visitors and industry with its strong brand presence and product innovation. At the show, Yadea delivered its high-quality kick scooters in Booth 2.2-310, including the ElitePrime, EliteMax, Artist, and KS6 Pro models, all ideal for city commuting and embodying a sustainable, eco-friendly lifestyle. It's worth mentioning that ElitePrime is equipped with advanced shock absorption and a maximum power output of 1500W, which can deliver a swift and smooth ride. Besides, its self-healing tubeless tires can be quickly filled with self-healing technology for seamless repairs when it comes to nail damage. Another standout electric bike model, the Trooper01, is equally impressive. Equipped with a 250W motor, the Trooper01 features dual suspension and wide tires for enhanced road handling, and its retro motorcycle design has gained significant popularity among young international users. And it has been tested and certified by the esteemed TUV SUD laboratory, meeting the EN15194 safety standard, which makes it a highly reliable electric bike for the European market. This year, Yadea's participation at IFA goes beyond just showcasing its latest products. The brand is leveraging the event as a strategic platform to explore new opportunities for business collaboration. By fostering relationships with international distributors and retailers, Yadea aims to further establish itself as a leading player in the sustainable mobility sector. Yadea continues to lead the electric two-wheeler market, maintaining the top sales spot for seven consecutive years. All products on display meet strict European certification standards, and the company has earned recognition for its innovation in green mobility, holding over 1,900 patents, two national CNAS laboratories, and six R&D centers. Yadea's strategic global expansion is further supported by its eight production bases, including key facilities in Indonesia and Vietnam, catering to its growing international footprint. As the global demand for sustainable transportation grows, Yadea's commitment to green mobility remains at the forefront of its mission. With its pioneering technology and dedication to reducing carbon emissions, the company continues to make significant strides toward a cleaner, more environmentally friendly future.
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MCB Ventures and EV Dynamics Form Strategic Alliance to Launch Purpose-Driven Operations Subsidiary
HONG KONG, Sept. 5, 2024 /PRNewswire/ -- EV Dynamics (EVD) and MCB Ventures are excited to announce the launch of their new fully-owned subsidiary, EVD.MCB, focused on revolutionizing eco-capital operations across Asia and Africa. This powerful collaboration unites the expertise and innovation of both companies to drive the rapid adoption of commercial electric vehicles (EVs) and advanced power generation and storage solutions in hyper-growth regions, paving the way for a more equitable and sustainable future. Leading with EV Dynamics EV Dynamics, a Hong Kong-based public company since 1996, is at the forefront of cutting-edge technologies, specializing in electric vehicles, battery technology, and mining. Known for its advanced lithium-ion polymer solid battery technology, EVD is already making waves with its electric bus project in partnership with the Hong Kong Productivity Council. With strategic alliances across Europe and the Americas, EVD is set to lead the charge in global EV markets, ensuring its products meet the highest international standards. MCB Ventures: Future-Proofing Finance MCB Ventures is a venture capital platform that seamlessly integrates traditional finance (TradeFi) with decentralized finance (DeFi) within the blockchain ecosystem. Focused on sectors such as regenerative energy, biofuel production, and next-gen AI, MCB Ventures is committed to driving impactful projects through government-backed initiatives and solid business models. Their distinctive approach of combining Government-to-Government (G2G) projects through public-private partnerships (PPP) with Real World Assets (RWA) and Decentralized Physical Infrastructure Networks (DePIN) positions them as pioneers in integrating physical and digital innovation. A Vision for the Future The formation of EVD.MCB is a strategic move to harness the immense growth potential in Asia and Africa. By capitalizing on local opportunities and fostering strong government partnerships, the new subsidiary aims to: Expand Operations: Target high-growth regions with tailored low-carbon solutions, including but not limited to cutting-edge renewable energy initiatives and transformative biofuel projects, driving robust economic growth and environmental resilience. Lead in Green Innovation: Establish EVD.MCB as a leader in the commercial EV and power sectors, setting new benchmarks for responsibility. Enhance Corporate Value: The successful rollout of regenerative initiatives is expected to significantly boost the valuation of both parent companies, reflecting their commitment to an Environmental, Social, and Governance future. A Joint Commitment to a Carbon-Neutral World This partnership between MCB Ventures and EV Dynamics is more than just a business venture; it's a commitment to creating an eco-conscious, carbon-neutral world. EVD.MCB will leverage the strengths of both companies to deliver innovative solutions that meet the unique challenges of the regions they serve. Together, they are poised to make a lasting impact on the future of sustainable development in high-potential markets. A Proven Leadership Executive Driving the Success of Our New Venture The success of our newly established subsidiary, a fully integrated entity within our corporate structure, is grounded in the expertise and leadership of a highly skilled team. Leading this effort as Executive Director and CEO is Mr. Chris Lu, an experienced entrepreneur and leader with over 25 years of industry experience. As the founder, chairman, and CEO of MCB Ventures, Mr. Lu brings a deep well of knowledge in Strategy Policy Management, technology, and innovation. Originally from Southeast Asia and raised in the U.S., Mr. Lu's academic journey began with a degree in Management Information Systems, complemented by a minor in Visual Communications. He then earned an Executive MBA from Pepperdine University and further pursued a doctorate in Computational Sciences, supported by a stipend. Over the course of his career, Mr. Lu has made contributions to both the private sector and public international organizations. As a member of LA5 Rotary International, he has collaborated with leading business figures in the United States and shared his expertise with the United Nations across the APAC and Africa regions. His knowledge in Blockchain and Public-Private Partnerships (PPP) has been presented at numerous platforms around the globe. Mr. Lu's dedication to ESG principles and his strategic emphasis on underdeveloped and emerging economies are pivotal to the success of this subsidiary. His leadership is set to drive outstanding results, positioning this venture as a key opportunity for hyper-growth and "green" value creation. About EV Dynamics: EV Dynamics is a leading technology company specializing in electric vehicles, battery technology, and mining. Since 1996, EVD has been driving innovation and sustainability across the globe, with a focus on integrating cutting-edge technologies into everyday life. About MCB Ventures: MCB Ventures is a pioneering venture capital platform that merges traditional and decentralized finance to fuel high-impact carbon projects in net-zero energy, biofuels, AgTech, and AI. With a focus on strategic investments and cutting-edge solutions, MCB Ventures is dedicated to driving profitable growth while shaping a resilient and prosperous future.
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Volvo Cars adjusts core business ambitions for 2026 and beyond
GOTHENBURG, Sweden, Sept. 5, 2024 /PRNewswire/ -- Volvo Cars has adjusted its core business ambitions for the coming years, reflecting the company's relentless focus on value creation while remaining pragmatic amidst fluid market conditions. The adjusted business ambitions are revealed ahead of Volvo Cars' Capital Markets Day which takes place in Gothenburg, Sweden today. During the day, Volvo Cars will reveal details of its value creation approach, technology roadmap and product plan for the coming years. Rather than aiming for an absolute revenue target, Volvo Cars' ambition is now to continue outgrowing the premium car market until 2026, as it has done in recent years. Given the increased complexity especially in relation to global trade and tariffs, the company also aims to achieve an EBIT* margin of 7-8 per cent for the full year in 2026. In terms of free cash flow generation, Volvo Cars continues to aim for cash flow neutrality in 2024 and 2025, followed by a strong free cash flow from 2026 onwards. From 2026 onwards, Volvo Cars expects to benefit further from its current investment phase through higher profitability and stronger free cash flow. The adjusted revenue and EBIT margin ambitions follow on yesterday's announcement around Volvo Cars' revised electrification ambitions. The company now aims for 50-60 per cent of its global sales by 2025 to consist of electrified cars, so both plug-in hybrid and fully electric models. By 2030, it expects electrified cars to represent between 90-100 per cent of global sales volumes. The remaining 10 per cent will allow for a limited number of mild hybrid models to be sold, if needed. These adjusted electrification ambitions also lead to new CO2 reduction ambitions, which remain leading for the automotive industry. Volvo Cars now aims to reduce its CO2 footprint per car by 30-35 per cent by 2025 versus a 2018 baseline, which is an important step towards a CO2 reduction per car of 65-75 per cent by 2030. The company will continue to work together with its suppliers to bring down emissions from materials and from its operations, including its supply chain and logistics networks. For more information on the company's adjusted electrification ambitions, read here. The company continues to retain the potential for shareholder distribution once its current investment phase is concluded. More details will follow closer to that point in time. "Volvo Cars stands at a pivotal and exciting crossroads in our journey. We have been laying the foundations for the last few years that put us in the strong position we are in today," says Jim Rowan, chief executive of Volvo Cars. "The sharpened business ambitions we announce today further reinforce our commitment to drive value as a business, while remaining true to our purpose. As I have said before: business is not a game of perfection, it's about continuous progress and adaptation." The small print Volvo Cars' EBIT target applies to core EBIT, i.e. *EBIT excl. JVs and associates This disclosure contains information that Volvo Car AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 05-09-2024 07:52 CET. For further information please contact: Volvo Cars Media Relations+46 31-59 65 25media@volvocars.com Volvo Cars Investor Relations John Hernander+46 31-793 94 00investors@volvocars.com This information was brought to you by Cision http://news.cision.com https://news.cision.com/volvo-car-ab--publ-/r/volvo-cars-adjusts-core-business-ambitions-for-2026-and-beyond,c4033537
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ROHM's 4th-Generation SiC MOSFET Bare Chips Adopted in 3 EV Models of ZEEKR from Geely
- Integration in Traction Inverters Extends Cruising Range, Improving Performance - KYOTO, Japan, Sept. 5, 2024 /PRNewswire/ -- ROHM Co., Ltd. has announced the adoption of power modules equipped with 4th-generation SiC MOSFET bare chips for traction inverters in three models of the ZEEKR EV brand from Zhejiang Geely Holding Group, one of the top 10 global automakers. Since 2023, these power modules have been mass-produced and shipped from HAIMOSIC (SHANGHAI) Co., Ltd. -- a joint venture between ROHM and Zhenghai Group Co., Ltd. -- to Viridi E-Mobility Technology (Ningbo) Co., Ltd. a Tier 1 manufacturer under Geely. Geely and ROHM have been collaborating since 2018, beginning with technical exchanges, then later forming a strategic partnership focused on SiC power devices in 2021. This led to the integration of ROHM's SiC MOSFETs into the traction inverters of three models: the ZEEKR X, 009, and 001. In each of these EVs, ROHM's power solutions centered on SiC MOSFETs play a key role in extending the cruising range and enhancing overall performance. ROHM is committed to advancing SiC technology, with plans to launch 5th-generation SiC MOSFETs in 2025 while accelerating market introduction of 6th- and 7th-generation devices. Moreover, by offering SiC in various forms, including bare chips, discrete components, and modules, ROHM is able to promote the widespread adoption of SiC technology, contributing to the creation of a sustainable society. Image: https://cdn.kyodonewsprwire.jp/prwfile/release/M106254/202408275466/_prw_PI1fl_X6yAZ1a1.jpg ZEEKR Models Equipped with ROHM's EcoSiC (TM) The ZEEKR X, which features a maximum output exceeding 300kW and a cruising range of over 400km despite being a compact SUV, is attracting attention even outside China due to its exceptional cost performance. The 009 minivan features an intelligent cockpit and large 140kWh battery, achieving an outstanding maximum cruising range of 822km. And for those looking for superior performance, the flagship model, 001, offers a maximum output of over 400kW from dual motors with a range of over 580km along with a four-wheel independent control system. Release: https://www.rohm.com/news-detail?news-title=2024-08-29_news_geely&defaultGroupId=false About ZEEKR: https://kyodonewsprwire.jp/attach/202408275466-O1-7J42jJ8u.pdf About ROHM: https://kyodonewsprwire.jp/attach/202408275466-O2-dfjDjY16.pdf Market background and EcoSiC (TM): https://kyodonewsprwire.jp/attach/202408275466-O3-3Kf8Xrms.pdf Supporting information: https://kyodonewsprwire.jp/attach/202408275466-O4-ovCJAWs9.pdf Logo: https://cdn.kyodonewsprwire.jp/prwfile/release/M106254/202408275466/_prw_PI2fl_ftufK59s.jpg EcoSiC is a trademark or registered trademark of ROHM Co., Ltd. Official website: https://www.rohm.com/
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Thunder Power Reports Unaudited Second Quarter 2024 Financial Results
WILMINGTON, Del., Sept. 5, 2024 /PRNewswire/ -- Thunder Power Holdings, Inc. (Nasdaq: AIEV) ("Thunder Power" or the "Company"), a technology innovator and a developer of premium passenger EVs, today announced its unaudited financial results for the three months ended June 30, 2024 ("Second Quarter 2024"). Second Quarter 2024 Financial Highlights Revenues were nil, consistent with the same period in 2023. Operating expenses were approximately $1.3 million, compared to $0.7 million in the prior year. This increase was mainly due to a one-time share-based compensation expense of about $1.0 million from issuing shares to three independent directors of Feutune Light Acquisition Corporation ("FLFV") as part of the Company's recent business combination. This rise was partially offset by a decrease of around $0.5 million in share-based settlement expenses compared to the same quarter last year, when shares were issued to its controlling shareholder to settle liabilities. As a result, net loss was approximately $1.3 million, compared to $0.7 million for the same period in 2023. Wellen Sham, Founder of Thunder Power, commented, "Our mission is to power the future of sustainable transportation by creating stylish, innovative and cost-efficient premium EVs centered around differentiated designs and solutions tailored for every lifestyle. With our recent business combination and a forward stock purchase facility set up in August as summarized below and reported in a current report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on August 21, 2024, we endeavor to leverage our proprietary technologies and modular designs. This may enable us to be able to produce eco-friendly EVs that prioritize quality, comfort, and performance, allowing us to capture meaningful market share in the growing EV sector in the foreseeable future." Recent Developments On June 21, 2024, the Company successfully completed its business combination with FLFV, marking a significant milestone in its growth strategy. Following the merger, its common stock began trading on the Nasdaq Global Market under the symbol "AIEV." On August 20, 2024, the Company entered into certain Common Stock Purchase Agreement with Westwood Capital Group LLC, allowing the Company to issue and sell up to $100 million in newly issued shares of common stock over a 36-month period, subject to specific conditions, including the filing and effectiveness of a resale registration statement with the SEC. About Thunder Power Holdings, Inc. Thunder Power is a technology innovator and a developer of premium electric vehicles ("EVs"). The Company has developed several proprietary technologies, which are the building blocks of the Thunder Power family of EVs. The Company is focused on design and development of high-performance EVs, targeting the EV markets in the U.S., Europe and Asia. Safe Harbor Statement This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminologies such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's final proxy statement/prospectus pursuant to rule 424(b)(3) filed with the SEC on May 17, 2024 and the subsequent periodic reports that are filed with the SEC and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements, except as required by the applicable law, regulations or rules. THUNDER POWER HOLDINGS, INC. (f/k/a Feutune Light Acquisition Corporation) UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS As of June 30, 2024 and December 31, 2023 (Expressed in U.S. dollar, except for the number of shares) June 30,2024 December 31, 2023 (Audited) ASSETS Current Assets Cash $ 921,349 $ 196,907 Deferred offering costs — 429,750 Prepaid expenses for forward purchase contract 13,264,964 — Other current assets 359,175 623,221 Total Current Assets 14,545,488 1,249,878 Non-current Assets Property and equipment, net 860 1,974 Right of use assets 18,109 5,740 Total Non-current Assets 18,969 7,714 Total Assets $ 14,564,457 $ 1,257,592 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Advance of subscription fees from shareholders $ — $ 590,000 Amount due to related parties 978,021 68,992 Other payable and accrued expenses 2,644,518 97,297 Lease liabilities 16,956 — Deferred underwriter's discount 3,421,250 — Total Current Liabilities 7,060,745 756,289 Total Liabilities 7,060,745 756,289 Commitments and Contingencies (Note 11) Shareholders' Equity Common stock ($0.0001 par value, 1,000,000,000 shares authorized; 46,859,633 and37,488,807 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively)* 4,686 3,749 Additional paid-in capital* 43,490,860 34,927,449 Accumulated loss (35,991,834) (34,429,895) Total Shareholders' Equity 7,503,712 501,303 Total Liabilities and Shareholders' Equity $ 14,564,457 $ 1,257,592 * The share information and additional paid-in capital are presented on a retroactive basis to reflect the reverse recapitalization on June 21, 2024 (see the discussion under the heading "Reverse Recapitalization" in "Note 1 – Organization and Business Description" of the filed 10-Q). The accompanying notes in the filed 10-Q are an integral part of the unaudited consolidated financial statements. THUNDER POWER HOLDINGS, INC. (f/k/a Feutune Light Acquisition Corporation) UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS For the Three and Six Months Ended June 30, 2024 and 2023 (Expressed in U.S. dollar, except for the number of shares and loss per share) For the ThreeMonths Ended June 30, For the Six Months EndedJune 30, 2024 2023 2024 2023 Revenues $ — $ — $ — $ — Operating expenses General and administrative expenses (1,347,897) (738,442) (1,561,729) (948,577) Total operating expenses (1,347,897) (738,442) (1,561,729) (948,577) Other income (expenses), net Foreign currency exchange gain (loss) 1 (1) (210) (1) Total other income (expenses), net 1 (1) (210) (1) Loss before income taxes (1,347,896) (738,443) (1,561,939) (948,578) Income tax expenses — — — — Net loss and comprehensive loss $ (1,347,896) $ (738,443) $ (1,561,939) $ (948,578) Loss per share – basic and diluted* $ (0.03) $ (0.02) $ (0.04) (0.03) Weighted average shares – basic and diluted* 39,628,798 33,182,622 $ 38,774,859 $
