Enters Europe to explore opportunities in the electric truck market
Hong Kong–China Dynamics (Holdings) Co., Ltd. (the “Company”; stock code: 476, together with its subsidiaries, collectively referred to as “China Dynamics” or The “Group”) entered into an investment agreement with Quantron AG (“Quantron”), a company headquartered in Germany and engaged in electric passenger and freight transportation in cities and regions.
According to the agreement, the group has conditionally agreed to subscribe for 2,698 subscription shares of Quantron, which is equivalent to approximately 4.98% of its enlarged share capital.
Quantron will purchase electric vehicle components and refurbished kits from China Dynamics to meet the needs of its customers, and will jointly develop opportunities for light and medium-sized electric freight vehicles with the group.
Mr. Miguel Valldecabres Polop, Chief Executive Officer of China Dynamics, said: “Quantron’s expertise in the electric commercial vehicle field has always been well-known in the industry. Together with its extensive coverage in the European market, Quantron is the best partner for the group to focus on the development of its electric vehicle business. An important gateway to Europe. China Dynamics and Quantron will jointly explore market opportunities for light and medium electric trucks, a business segment where
Quantron has achieved great success through the electrification of large light commercial trucks, IVECO Daily.” Mr. Andreas Haller, Chairman of Quantron AG said: “China Dynamics will play an important role in our global growth strategy by providing refurbished parts and engineering support and hydrogen-powered commercial vehicles. At the same time, Quantron will cooperate with China in accordance with the new regulations and subsidies to be issued by the German government in the second quarter of 2021. Dynamics explores the procurement and supply chain opportunities of electric vehicle parts and refurbished kits together.”
In addition, China Dynamics and Quantron have confirmed the appointment of Mr. Michael Perschke as a member of the Quantron Supervisory Board. Mr. Michael Perschke is a member of the China Dynamics International Consulting Team and supports the group’s global market growth strategy.
Under the agreement, the Group has conditionally agreed to subscribe to 2,698 Quantron subscription shares, representing approximately 4.98% of the latter’s enlarged share capital.
Quantron is expected to source e-vehicles components and retrofitment kits from China Dynamics to meet demand from its customers and to explore opportunity with the Group for joint development of light and medium e-delivery trucks.
Mr. Miguel Valldecabres Polop, CEO of China Dynamics, said, “With its long-standing electric vehicle (“EV”) expertise in commercial vehicles and its great market access in Europe, Quantron is an ideal fit into our group of EV-focused companies and it will become the Group’s key gateway to Europe. China Dynamics and Quantron will explore opportunities in EV light and medium delivery trucks – a segment in which Quantron is already hugely successful with its electrification of the large light commercial van IVECO Daily.”
Mr. Andreas Haller, Chairman of the Board of Quantron AG, said: “China Dynamics will play an important part of our global growth strategy with its supply of retrofitment components as well as provision of engineering support and hydrogen-powered commercial vehicles. Meanwhile, Quantron will explore sourcing and supply chain opportunities with China Dynamics for EV components and retrofitment kits, based on the new regulation and subsidies to be released by the German Government in Q2/2021.”
China Dynamics and Quantron have also confirmed the appointment of Mr. Michael Perschke as a member of Quantron’s supervisory board. Mr. Perschke is part of China Dynamics’ Team of International Advisors who support the Group’s growth strategy in the global market.
About China Dynamics (Holdings) Limited (Stock Code: 476)
China Dynamics (Holdings) Limited is a pioneer and a prominent player in China’s new energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider with a solid technological foundation in diverse areas including new energy platform power system and its key components. The Group has production base in Chongqing and it has developed its sales network in Mainland China, Hong Kong, Asia Pacific and South America. To better reflect the Group’s business and its development direction to globalise its electric vehicles to world markets, the Company has proposed to change its name to “EV Dynamics (Holdings) Limited”.
About Quantron AG
Quantron AG is a system provider of clean battery and hydrogen-powered e-mobility for commercial vehicles such as trucks, buses and vans. In addition to new electric vehicles, the wide range of services offered by the innovation forge includes the electrification of used and existing vehicles, the creation of individual overall concepts including the appropriate charging infrastructure as well as rental, financing and leasing offers and driver training. Quantron AG also sells batteries and integrated customised electrification concepts to manufacturers of commercial vehicles, machinery and intralogistics vehicles. The German company from Augsburg in Bavaria is a pioneer and innovation driver for e-mobility in passenger, transport and freight traffic.