Strengthens Foothold in Southeast Asia Market
HONG KONG SAR – 25 March 2021 – China Dynamics (Holdings) Limited (the “Company”; Stock Code: 476, together with its subsidiaries, collectively “China Dynamics” or the “Group”), a provider of new-energy vehicles and technology integrated solutions, and GET Worldwide, Inc. (“GET Worldwide”), have signed a long-term supply agreement, following the delivery of electric buses in Davao and Metro Manila in the Philippines last December.
Under the long-term supply agreement, China Dynamics will provide GET Worldwide, a California based E-mobility solutions company, with no less than 100 units of the 6.5 meter COMET electric minibus within 6 months and not less than 500 units of the vehicles within 24 months from the effective date of the agreement. The electric vehicles will be mainly used in the Philippines and in Malaysia. In addition, GET Worldwide is already looking to expand to Africa and Latin America within the year.
Mr. Freddie Tinga, President of GET Worldwide said: “China Dynamics ends our long search in finding a reliable electric vehicle manufacturer. The COMET is GET Worldwide’s flagship electric public transport vehicle designed for emerging markets. The vehicle is paired with a mobile application to make transportation more efficient, address the dangers of climate change, and transform urban environments. We are seeing the large potential of the COMET ecosystem given the high demand in the Philippines and the numerous parties contacting us from around the world who are interested in the same solution.”
Mr. Miguel Valldecabres Polop, CEO of China Dynamics, added, “The signing of the agreement is another strategic step in our global expansion starting with Southeast Asia. This agreement solidifies our partnership with GET Worldwide in deploying the ideal transport solution to dense urban centers globally. It is a win-win solution for all. We benefit from the revenues generated from these new markets, as we do our part to make these cities more sustainable and more livable for their citizens.”
China Dynamics delivered in December 2020 the initial batch of COMET electric minibuses for Metro Manila and Davao to Global Electric Transport (“GET Philippines”), a licensee of GET Worldwide and the first electric bus operator in the Philippines.
About China Dynamics (Holdings) Limited (Stock Code: 476)
China Dynamics (Holdings) Limited is a pioneer and a prominent player in 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 two production bases in Chongqing and it has developed its sales network in Mainland China, Hong Kong, Asia Pacific and South America.