Argentine President Fernandez meets with Gotion High-tech chairman Li Zhen

HONG KONG, Jun 29, 2022 – (ACN Newswire) – On the afternoon of June 24, Argentine Time, Argentine President Alberto Fernandez met with Li Zhen, chairman of Gotion High-tech, and his delegation at the presidential residence in Olivos, he explicitly supported Chinese investment in Argentina, and praised Gotion High-tech's multiple industrial investments will promote the development of Argentina's new energy industry. The two sides also had friendly exchanges on the "Targets of Carbon Peak and Carbon Neutralization" strategy, the new energy vehicle industry, the Sustainable Transportation Act and the joint venture between Gotion High-tech and Corven, a well-known American auto parts manufacturer, to establish electric bus batteries and other topics.

Alberto Fernandez:
The friendship between China and Argentina goes back to ancient times. I attended the Beijing Winter Olympics this year and witnessed the unique Chinese winter Olympics moment. Not long ago, I also participated in the online communication of the BRICS Summit. China's "One Belt, One Road" strategy and "Targets of Carbon Peak and Carbon Neutralization" strategy have encouraged many Chinese enterprises to invest in Argentina, undertake photovoltaic power stations, hydropower DAMS and other new energy projects, and continue to promote them, it also brings opportunities for Argentina's development.

The world is already shifting to renewable energy. Argentina has made incentives for lithium, wind power, photovoltaic and other industries. The Development of Sustainable Transport Act, introduced last year, it aims to promote investment in electric vehicles, promote the electrification of transport and provide legal protection for investors in new energy.

We welcome Chinese investment in Argentina. Gotion High-tech's industrial investment activities in Argentina, cover the development, processing and battery products of lithium resources, which accelerates the development of local lithium resources and it will help the development and progress of Argentina's new energy industry.

Li Zhen:
Since the establishment of diplomatic ties between China and Argentina, leaders of the two countries have actively supported complementary advantages and economic cooperation between enterprises, especially the "Belt and Road" initiative. It provides strategic guidance, points out the direction and lays the foundation for inter-enterprise cooperation.

The third energy revolution with solar and wind power as the main body has come. To make full use of it, we must have energy storage technology. Gotion High-tech has been focusing on energy storage for 16 years. We plan to reach 300GWh battery production capacity in the world by 2025, which makes enterprises' demand for lithium resources more vigorous.

Argentina is the third-largest economy in Latin America, with a harmonious social system and orderly development of resources, it provides a good external environment for enterprises to invest in. We have partnered with Jujuy National Energy and Mining Company and we will work with Corven in Buenos Aires to develop downstream applications. In the next 100 years, new energy vehicles will certainly be a new engine for the world economy. Gotion is willing to work with visionary people in Argentina to jointly create a new era in the energy industry.

Daniel Scioli, Argentina's minister of Production and Development, Ariel Schale, The industry minister, and President Fernandez were accompanied by Cecilia Todesca, Minister of International Economic Relations, and Fernanda Avila, Minister of Mines, and communicated with the Gotion High-tech team on the development of the lithium industry.


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Gotion High-Tech intends to invest in a production base in Europe with an annual production capacity of 18GWh

HONG KONG, Jun 28, 2022 – (ACN Newswire) – On 27 June, Gotion High-Tech held the 5th New Energy Economic Forum and the Opening Ceremony of Gotion Germany at its Gottingen base. It is noted that the Gottingen base, as the first battery production and business operation base of Gotion in Europe, is expected to start the transformation by the end of this year. Chairman Li Zhen said that Gotion perfectly combined China's advanced battery technology with Germany's advanced process engineering, thereby enabling the production of Gotion's battery in Europe . At the ceremony, Gotion High-Tech also released GenDome, its first portable energy storage product for overseas markets and Gendock 3000, its first portable mobile energy storage product at the same time.

Wu Ken, the Ambassador Extraordinary and Plenipotentiary of China to Germany, Stephan Weil, Premier of lower Saxony, Germany, Liu Hui, Member of the Standing Committee of the Anhui Provincial Party Committee and Executive Vice-Governor of Anhui Province, Petra Broistedt, Mayor of Gottingen, Luo Yunfeng, Mayor of Hefei Municipal People's Government, and Li Zhen, Chairman of Gotion High-Tech, participated in and witnessed the ceremony.

Gottingen base with annual production capacity of 6GWh in the first phase is expected to start transformation by the end of this year

It is noted that the Gottingen base covers a site area of approximately 174,000 sq.m., and has an existing gross floor area of approximately 40,000 sq.m.. According to the plan, the project will be constructed in two phases, namely the brownfield plant and the greenfield plant, with an annual production target of 6GWh and 12GWh, respectively. The first phase of the brownfield plant transformation is expected to be officially launched by the end of 2022, and the first production line with an annual capacity of 3.5GWh will be officially put into operation in September 2023. It is expected that the annual production capacity target of 18GWh will be achieved after the brownfield and greenfield plants of the base are fully put into operation.

Dr. Ahmet Toptas, Head of Gottingen Factory of Gotion Germany, introduced that: the Gottingen base will be product-oriented with the ultimate goal of achieving carbon neutrality, as well as will build a local product research and development team in Europe.

Combined with the development and technology orientation of the new energy market in Europe, the base will research and develop new energy battery products that cater to the local European market, and carry out the production of bus batteries, automotive batteries, energy storage batteries, mobile charging and other series of products. In the future, it intends to cover customers in sectors of energy storage, commercial vehicles and passenger vehicles. "With the advanced lithium iron phosphate battery cell technology of Gotion High-Tech, together with experienced German employees, strict quality control and high quality requirements of Europe, we intend to cover customers in sectors of energy storage, commercial vehicles and passenger vehicles in the future, so as to meet the demand of the new energy market in Europe and help Gotion High-Tech accelerate the expansion of overseas markets."

The first portable energy storage product for overseas markets will be manufactured locally in Gottingen

After releasing the semi-solid battery and the first smart mobile energy storage charging pile in May, Gotion High-Tech continuously launched more new battery products. At the opening ceremony, the Gottingen base released GenDome, the first portable energy storage product for overseas markets, and Gendock 3000, the first large-capacity portable mobile energy storage product, which can convert solar energy and wind energy into electricity; it not only helps customers manage the use of household energy and meet the daily needs of household and outdoor users, but also meets 99% of customers' power needs, and effectively reduces energy bills. The household energy storage product includes three different models, which are developed and manufactured by the international business team of Gotion High-Tech. In the future, it will mainly target the European market. In the later stage, the product will be manufactured locally at the Gottingen base.

On the day of the opening ceremony, the 5th New Energy Economic Forum jointly organized by Gotion High-Tech, Committee of 100, Technical University of Braunschweig, Gottingen mbH ("GWG"), Die Chinesische Handelskammer in Deutschland ("CHKD") and the School of Automobile of Tongji University was successfully held at the Gottingen base. The forum focused on topics such as China-Europe economic relations, energy revolution, low-carbon transition and new energy market, and attracted senior executives of many famous enterprises in the new energy industry, university professors, scholars and relevant economic and political officers attended the forum.

Li Zhen, Chairman of Gotion High-Tech said: "With Chinese technology and German process engineering, we achieve the production of Gotion's battery in Europe"

Li Chen, President of International Business of Gotion High-Tech, introduced in the closing speech that Gotion High-Tech is a global company that provides energy solutions for suppliers, customers and other partners at home and abroad. "We not only focus on the development and promotion of new energy battery products, but also strive to develop ToC business at the same time."

According to Li Chen, since May 2022, Gotion high-tech has successively released its first self-developed E-Plus smart mobile energy storage charging pile for ordinary consumers and Gendome portable energy storage product for the overseas market. In 2025, Gotion High-Tech's global production capacity is planned to reach 300GWh, of which overseas production capacity is planned to be 100GWh.

Li Zhen, Chairman of Gotion High-Tech, said in his speech that today we have started the application research and development and product manufacturing of Gotion Battery in Germany and Europe. The Gottingen base of Gotion will gradually transform from the production of automotive parts in previous years to the manufacturing of battery application products, which is a difficult but promising process. In this process, we must protect the existing corporate culture, proactively participate in the development of Gottingen, and accelerate the pace of product transformation. "We will combine China's advanced battery technology with Germany's advanced process engineering to create more excellent products and contribute to society, so as to promote the progress and development of the new energy industry."



Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Sudarshan Venu Elevated as Managing Director of TVS Motor Company

Singapore, May 6, 2022 – (ACN Newswire) – TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, announced at its board meeting today the elevation of Sudarshan Venu as Managing Director of the Company, effective today.


Sudarshan Venu, Managing Director


Sudarshan has been charting the future of one of India's leading two-wheeler manufacturer and has made it the most awarded two-wheeler company. He has played a pivotal role in the company's growth in India and key international markets, including Asia, Africa, and more recently in Europe.

Prof. Sir Ralf Dieter Speth, Chairman, TVS Motor Company said, "Sudarshan has got a clear vision and brings with him both a tremendous passion for advanced technologies and sustainable growth, deep-seated in values. He thinks future-oriented, staying ahead of the emerging trends. Personal, smart mobility, including electrification, are two of his big areas of focus. He has also spearheaded the international growth of TVS Motor. He has the ability to lead high performing teams internationally with empathy. He takes care of people and society. I am sure that with his leadership, the company will grow stronger and further pivot to the future."

Mr. Venu Srinivasan, Chairman Emeritus, TVS Motor Company said, "Sudarshan's extraordinary efforts have witnessed key decisions to develop aspirational products and grow fast in India and overseas. He has also led some key acquisitions and the expansion of group companies. We are confident that under his leadership, TVS Motor will transform into a leading mobility player globally."

Mr. Sudarshan Venu, Managing Director, TVS Motor Company said, "I am very thankful for this special opportunity and very excited for the future. With the continued guidance of my father and Sir Ralf and the support of the Board and team, I look forward to further embracing the future of mobility. This is an interesting time for the industry globally, and I am passionate about being at the forefront of this."

About TVS Motor Company

TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Mobility with a focus on sustainability. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys for five years. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. Our group company, Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate. For more information, please visit www.tvsmotor.com.

For more information, please contact:
Varghese M Thomas: vm.thomas@tvsmotor.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

U-Boat Worx launches 9-person flagship lithium-ion battery submersible NEXUS

AMSTERDAM, Apr 21, 2022 – (ACN Newswire) – Dutch submersible manufacturer U-Boat Worx (www.uboatworx.com) breaks the mould with the launch of the NEXUS series. U-Boat Worx is the market leader in private and commercial submersibles. Since 2017, the company has sold more than 20 of its highly successful Cruise Subs to private operators, resorts, and cruise lines.


Nexus White Front View

Nexus White Side View

Nexus White Right Angle

Nexus White from Top Upside

Nexus Yellow Front Side


The NEXUS series (www.uboatworx.com/model/nexus-series) comprises two models featuring an ultra-large elliptical acrylic pressure hull with unrivalled passenger comfort. Seating up to eight passengers and one pilot, the NEXUS provides 25% more interior space than competing models. The NEXUS subs are depth-rated to 200 meters (650 feet).

Equipped with the latest lithium-ion battery technology, the subs can operate for up to 18 hours and dive up to ten times a day. 80 guests can participate in an unforgettable sub-sea adventure daily (www.uboatworx.com/model/nexus-series).

The unique revolving seating arrangement featured in the Cruise Subs has been replicated in the NEXUS. Passengers therefore always enjoy the best view, regardless of the direction the submarine is travelling. The NEXUS subs are designed as multi-directional, meaning they can manoeuvre in any direction without compromise. This is a distinguishing capability only achieved in U-Boat Worx submersibles. Ten silent thrusters provide the power required for top performance and unmatched speed.

The experience and knowledge gained from the development of the Cruise Subs has evolved the new features in the NEXUS series, including an XXL entrance hatch – the largest ever incorporated on a submersible of this size. For passengers of all ages, the entire boarding process has been streamlined, in keeping with U-Boat Worx's vision that everyone should be able to experience the oceans in a safe and comfortable manner.

A unique feature of U-Boat Worx' flagship submersibles is the optional passenger elevator, also integrated on the company's C-Researcher models.

Thanks to top-mounted diving tanks, the view abeam on both sides is unrestricted by floaters, with ample freeboard. This also leads to a stable boarding platform granting sufficient space for all occupants to stand on deck.

The NEXUS is optimised for ship-based launch and recovery, and can also be deployed from land and transported to dive sites.

In addition to the 9-person NEXUS, a marginally smaller and lighter 7-person version is available.

NEXUS – meaning a point of connection – bridges the gap between people and the ocean, providing a truly immersive aquatic encounter.

About U-Boat Worx
The 10 Submersible essentials (www.uboatworx.com/why-u-boat-worx-submarines)

For centuries, the Netherlands has been synonymous with world-class maritime innovation. U-Boat Worx is proudly continuing this tradition by leading the global submersible market. Since becoming an industry leader in submarine design, construction, and operations, we see our commitments to safety, quality and service as the major reasons for our ongoing success.

The desire to explore the deep has existed since the dawn of humanity. The popularization of scuba-diving brought the oceans within reach. Unlike scuba-diving, a manned submersible can take us deeper, in safety and comfort – without any risk of decompression.

The dream of creating a superior submersible, available to the general public, began in the 1980s. Bert Houtman, founder of U-Boat Worx, had the revolutionary idea to create submersibles that would not only be operated by the military or large oceanographic research institutes, but also for the private sector. He realized that to do that, he needed to build his own.

U-BOAT WORX PRESS OFFICE / SAND PEOPLE COMMUNICATION
sandpeoplecommunication.com
Alexander Razinkov
uboatworx@sandpeoplecommunication.com
M: +7 909 1672905
https://sandpeoplecommunication.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Quantum Solutions’ Capital Alliance Partner Applies for IPO in Hong Kong

HONG KONG, Aug 30, 2021 – (ACN Newswire) – According to the announcement dated in respect to "Notification for Change in Use of Fund by the Capital Partnership and the 2nd Series of Unsecured Convertible Bond with Stock Acquisition Rights", Quantum Solutions, through Asia TeleTech Investment Limited, an indirect wholly-owned subsidiary, invested in Limited Partnership ("LLP") which in turn has invested in SenseTime Group Inc. ("STG"). The Group noticed that STG had filed an initial public offering (IPO) application with The Stock Exchange of Hong Kong Limited on August 27, 2021.

Details of this IPO will be disclosed as soon as possible after confirmation.

Quantum Solutions Co.,Ltd. Company Summary
Company name: Quantum Solutions Co.,Ltd.
(Second section of the Tokyo Stock Exchange Stock code: 2338)
Address: 102-0073. Kudan VIGAS Bldg. 3F, 1-10-9 Kudan Kita, Chiyoda-ku, Tokyo, Japan
Representative: SHAO YUN, Chairman of the board
Capital: 2,559 million yen
Businesses: Content development and distribution Software development
Company URL: https://www.quantum-s.co.jp/en/



Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Mobility Leaders, Disruptors, Stakeholders and Partners to Re-imagine the Future of Smart Mobility Across Asia

Singapore, Aug 27, 2021 – (ACN Newswire) – On 7-9 September 2021, MOVE Asia brings together those driving change in urban mobility across Asia to explore the opportunities, strategies and developments to fast-track smart mobility across Asia.

Over the three days, over 130 expert speakers from across the region will be discussing and debating topics on MaaS, electric vehicles, city freight, smart cities, energy, charging, and battery tech.

Opening the event on day one, Michael Lohscheller, Global CEO, VinFast and Isao Sekiguchi, Regional Vice President, ASEAN, Nissan Motor will envision the Smart Mobility on their respective keynotes. Leaders from BCG Digital Ventures, Eurazeo, Momentum Ventures and VentureTECH will then take over with their keynote panel on Accelerating the investment for a greener transportation system

Headlining second day of the event are Andy Palmer, President and Group Chief Executive Officer of Switch Mobility, Amr Adel, Senior Vice President, Mobility East of Shell, Pradeep Parameswaran, President of Uber Mobility, APAC and Tom Elvidge, SVP Vehicle Programmes of Arrival who will be sharing about how they are leading their organisations toward becoming smarter, more customer-centric and more sustainable in their respective keynotes.

On day three, Noni Purnomo, President Director and CEO of Blue Bird Group will be showing you how you could be Driving into the future with mobility innovations while Arun Kumar, CFO of Ola Electric and Group CFO of Ola who will be reveals their developments in Building an EV ecosystem. Rounding up the keynotes is the much-anticipated keynote panel on "Propelling urban air mobility – Towards being technologically feasible, commercially viable, and socially acceptable" by Lionel Sinai-Sinelnikoff, Founder and Chief Executive Officer of ASCENT, Sanjay Suresh, Head of APAC Drone Deliveries of Skyports, Hon Lung Chu, Head of Singapore and BD SEA of Volocopter and Jeffrey Lowe, Chief Executive Officer of Asian Sky Group

Additional featured speakers at MOVE Asia include:
– Roger Jones, Executive General Manager Business Technology, Auckland Transport
– Nate Chanchareon, Head of Strategic Planning, Bangkok Mass Transit System Public Company Limited (BTS)
– Mark Steven Pastor, Assistant Secretary for Road Transport and Infrastructure, Department of Transportation (Philippines) 
– Dr Non A, Senior Expert in Smart City Promotion, Digital Economy Promotion Agency
– Dr. Akarin Suwannarat, Chief Technology Officer & Executive Vice President, Energy Absolute 
– Kirk James, Chief Brand Officer, Gogoro 
– Vikrama Dhiman, Head of Product, Mobility, Gojek 
– Philipp Kandal, Head of Engineering, Geo, Grab
– Piyush Prasad, National Business Head, HERO Electric 
– Juan Intan Kangrawan, Head of Data Analytic, Jakarta Smart City 
– Alistair Scott, Managing Director, Jaguar Land Rover Asia Pacific
– Liu Chien-Pang, Senior Engineer, Ministry of Transport and Communications Taiwan
– Dr. Lee Chen-Yu, Director, Taipei Smart City Project Management Office (TPMO) 
– Satya Widya Yudha, Member of the Board, The National Energy Council of the Republic of Indonesia
– Tessa Knox-Grant, Executive Director, Planning and Programs, Transport for NSW 
– Sardjono Jhony Tjitrokusumo, President Director, Transjakarta
– Wen Tung Chiu, Group Director (Research & Development), Strategic Planning Group, Urban Redevelopment Authority of Singapore

Running alongside the conference is a virtual exhibition hall showcasing the latest education technologies by mobility industry leaders including Shell, HERE Technologies, Geotab, ABB, Caburn Telecom, Cornerstone Technologies, Continental, Google Maps Platform, Gridwiz, iZeeM, LSC ECOSYSTEM CORPORATION, NextBillion.ai, Sendbird, TomTom and more.
The two-day free-to-attend conference and exhibition is expected to gather over 2,000 mobility stakeholders from APAC and beyond.

About MOVE Asia 2021

Date: 7-9 September 2021, LIVE ONLINE
Conference & Exhibition opening hours: 09:00 am SGT / GMT+8
Website: https://bit.ly/3yr4hAB
Regsister free pass: https://bit.ly/3kwE2E2

About Terrapinn

Terrapinn is a business media company. Its products are trade exhibitions, conferences, training solutions and electronic and print publications. For more information, please visit www.terrapinn.com.

Note: Press registration for the conference is compulsory and advance scheduling for speaker/ sponsor interviews is recommended. Press passes are strictly reserved for reporters, journalists, editors only. Final issuance of press passes is subjected to Terrapinn's discretion. For your complimentary press pass, please contact the following:

Jessica Foong
Marketing
Terrapinn Pte Ltd
Jessica.foong@terrapinn.com

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

FTXT’s 100 Hydrogen Heavy Trucks Demonstration Project for Xiong’an New Area

BAODING, China, Aug 23, 2021 – (ACN Newswire) – FTXT Energy Technology, a Great Wall Motor (GWM) subsidiary, along with partners Dayun, Dongfeng and Foton, have successfully delivered a fleet of 100 hydrogen heavy trucks for the Xiong'an New Area construction project in Hebei Province, China. The 49-tonne fleet was unveiled at the Great Wall Technology Center, with the handing over ceremony on August 14 at Service Station #1 on the Rongyi Road in Baoding City, near Xiong'an.


The handing-over ceremony on August 14 at FC Service Station #1 on the Rongyi Road in Baoding City, near Xiong'an.

The heavy trucks are fitted with high-power 111kW hydrogen fuel cell engines, hydrogen stacks and hydrogen storage all by FTXT.

FTXT's FC engine, stack and storage broke many technical barriers, with an overall performance index and safety performance grades at an advanced international level.


Rongyi Road is the main artery for transporting construction materials to Xiong'an New Area. In the next five years, fuel cell trucks on the road will increase to more than 1,000. The trucks will be refueled at 10 Service Stations along the 50km road. The project aims to establish the basis for expansion to other regions based on its success, and to promote the development of a green transportation system nationwide.

The heavy trucks are fitted with high-power 111kW hydrogen fuel cell engines, hydrogen stacks and hydrogen storage, fly compatible with each other on both power and control levels, developed by FTXT. The engine has a lifetime of 10,000 hours and can be started at -30 degrees C. All system components are locally sourced, with resulting costs decreased by about 28%.

The FC engine has broken many of the industry's technical barriers, with the overall performance index and safety performance grades at an advanced international level. FTXT aims to extend the technologies to the first commercial vehicle applications using hydrogen energy in China, in the next 3 to 5 years. During the current stage, FTXT will demonstrate and promote 1,330 FCEVs in Hebei province.

GWM, China's biggest maker of sport-utility vehicles and owner of FTXT Energy, will roll out its first hydrogen-powered SUV this year, and deploy its hydrogen-powered cars during the Winter Olympics in China next year. Zhang Tianyu, head of FTXT Energy, said "The technological breakthroughs we have achieved till now, in many ways have helped us to significantly reduce the costs of the final product, as well as ensure high performance, durability, and overall efficiency."

About FTXT

FTXT Energy Technology Co., Ltd. a subsidiary of GWM, focuses on the R&D, manufacturing, and sales of hydrogen energy technology. It has a professional R&D team as well as hydrogen energy test bases, fuel cell trial production centers, hydrogen production and liquefaction plants, supporting vehicle test sites, climatic chambers, and other high-quality resources.

FTXT FC-engines and components have been fitted to heavy trucks, light trucks, city buses, sedans, SUVs and pickups. At present, FTXT deploys five R&D centers, in Shanghai, Baoding, Canada, Japan and Germany, forming a multicultural and technologically advanced R&D team. FTXT follows a V model development process to create all fuel cell power systems and components.

Official Website: https://en.ftxt-e.com/
LinkedIn: https://www.linkedin.com/company/ftxt-energy/
Facebook: https://www.facebook.com/FTXTenergy
YouTube: https://www.youtu.be/fU4l8q0pMTo

Media contact:
Tiantian Chen, FTXT
U: http://www.ftxt-e.com
E: chentiantian@ftxt-e.com

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Quantum Solutions Co., Ltd. establishes joint venture with FOMM Company Limited

HONG KONG, Aug 23, 2021 – (ACN Newswire) – According to the announcement dated 12 July 2021 in respect of "Notice of Capital and Business Alliance with FOMM Limited", Quantum Solutions (hereinafter referred to as the "Company") has agreed to form a capital and business alliance (hereinafter referred to as the "Capital and Business Alliance") with FOMM Limited (hereinafter referred to as "FOMM") and a joint venture agreement was signed today.

1. Purpose of setting up the joint venture

Pursuant to the Capital and Business Alliance, the Group has agreed to invest in FOMM. After discussion, the two parties agreed to set up a joint venture in Hong Kong, namely Quantum FOMM Limited (hereinafter referred to as the "New Company"), to manufacture and distribute electric vehicles in China, in other words to serve the two companies as a vehicle to tap the China market. Asia TeleTech Investment Limited (hereinafter referred to as "ATT"), a wholly-owned subsidiary of the Company, will contribute capital direct to the New Company whereas FOMM will contribute capital as well.

2. Purpose and strategy of the Capital and Business Alliance

(1) Short term plan (12 months)
The New Company plans to start mass production in China as soon as possible after making minor adjustments to the FOMM's existing vehicle model – "FOMM ONE". The two parties expect production costs to be significantly reduced by leveraging the highly efficient supply chain in China.

With production cost lowered, selling price will follow, and correspondingly significant increase in sales volume is projected. Therefore, FOMM and the New Company can expect to see sales volume climb markedly within a short period of time (within 12 months).

(2) Medium-term plan (12-24 months)
To launch a new type of EV that allows people-vehicle interaction via the Internet, it will first be launched in the China market, mainly in small cities and rural areas with large populations in the country.

As an independent Japanese mini-electric vehicle brand, FOMM is going to target small towns and rural areas of China with an aggregate population of approximately 900 million. The major product of FOMM is mini electric vehicle, which is suitable for use in small towns and rural areas of China, where the population is large while the roads are narrow for conventional vehicles to navigate. Therefore, mini electric vehicles should have huge demand in those towns and areas.

3. Joint Venture Companies Information

(1) Company Name: Quantum FOMM Limited
(2) Registered address: ROOM 701-2 EVERBRIGHT CENTRE, 108 GLOUCESTER ROAD, WANCHAI, HONG KONG
(3) Representative: Director TUNG, CHUN FAI
(4) Business nature: Manufacturing of electric vehicles
(5) Capital: HKD30,000 (422,000 yen)
(6) Establishment date: 5 August, 2021
(7) Financial period: February
(8) Net Assets: HKD30,000 (422,000 yen)
(9) Total Assets: HKD30,000 (422,000 yen)
(10) Investment ratio: ATT (Company 100%subsidiary): 66.7%, FOMM:33.3%

4. The financial results of joint venture

The New Company will set up a subsidiary in China (tentatively in Shanghai) to produce and distribute electric vehicles. Related financial results will be disclosed once they are available.

5. Overview of business partners

(1) Company Name: FOMM Company Limited
(2) Registered address: Kanagawa Prefecture, Kawasaki City, Kawasaki City, New Kawasaki 7-7
(3) Representative: Representative Director Tsurumi Hijio
(4) Business nature: Planning, development, manufacturing & sales of EV
(5) Capital: 3,505 million yen
(6) Establishment date: 4 February, 2013
(7)Major shareholders and shareholding ratio: Banpu Next Co., Ltd. (21.5%)
(8)Relationship between the listed company
Capital relationship NA
Interpersonal NA
Business relationship NA
Relevant parties NA
(9) The Company's consolidated operating performance and financial status during the last three years will not be disclosed in accordance with the requirements of the other party.

6. Overview of ATT

(1) Company Name: Asia TeleTech Investment Limited
(2) Registered address: Flat B, 10/F, Tai Wo Mansion, 8 Tai Wo Street, Wan Chai, Hong Kong
(3) Representative: Director TUNG, CHUN FAI
(4) Business nature: Combination of 5G & AI technology related business
(5) Capital: HKD 4,000,000 (56,744,000 yen)
(6) Establishment date: 22 January, 2018
(7) Major shareholders and shareholding ratio: FASTEPS SINGAPORE PTE LTD (100% subsidiary of the Company) 100%
(8) Relationship between the listed company
Capital relationship: FASTEPS SINGAPORE PTE LTD (100% subsidiary of the company) s100%
Interpersonal: Director TUNG, Chun Fai
Business relationship: There are 305 million yen in money obligatory right and 9million yen is paid as servicing fee.
Relevant parties: The company is a 100% subsidiary of the Company (indirectly owned)
(9) The Company's consolidated operating performance and financial status in the last three years

Final accounts December 2018 December 2019 December 2020
Consolidated net assets 133million yen 172 million yen 153 million yen
Consolidated total assets 34million yen 36 million yen 353 million yen
1 share of equivalent combined net assets – – –
Consolidated sales 0 5 million yen 22 million yen
Consolidated business loss 188million yen 40 million yen 30 million yen
Consolidated often loss 188million yen 42 million yen 27 million yen
Attributable to shareholders of the parent company Net loss for the period 189million yen 42 million yen 40 million yen

7. Schedule

(1) Date of signature: 23 August, 2021
(2) Date of Establishment: 5 August, 2021#
(3) Date of commencing business : 1 October, 2021 (pending)
# It is expected that the New Company will be established with 100% of ATT's shares. After signing a joint venture contract, FOMM will contribute capital to the new company after which the joint venture will be deemed set up.

8. Future valuation

The impact of this performance is being evaluated and all information will be disclosed as soon as possible after the detailed assessment.

Quantum Solutions Co.,Ltd. Company Summary
Company name: Quantum Solutions Co.,Ltd.
(Second section of the Tokyo Stock Exchange Stock code: 2338)
Address: 102-0073. Kudan VIGAS Bldg. 3F, 1-10-9 Kudan Kita, Chiyoda-ku, Tokyo, Japan
Representative: SHAO YUN, Chairman of the board
Capital: 2,559 million yen
Businesses: Content development and distribution Software development
Company URL: https://www.quantum-s.co.jp/

For media enquiries:
Quantum Solutions Co.,Ltd.
Sylvia Chan
Email: info@quantum-s.co.jp




Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Bussr Joins BMW Foundation and MIT Global Sustainability Initiative

SINGAPORE, Jun 26, 2021 – (ACN Newswire) – Singapore-based transport disruptor Bussr is joining the BMW Foundation and Massachusetts Institute of Technology (MIT) to participate in their global mobility and sustainability initiatives. The initiative will kick start with a global workshop panel of cross-sectoral leaders on June 23.

The global workshop will "Explore how digital and socio-ecological transformations will change the ways in which humans interact with civic and social mobility, within the existing infrastructure as well as within entirely new infrastructure systems."

Uniquely qualified to present new ideas and perspectives on the topic of mobility, Bussr is one of the world's leading innovators in the global transit and ground passenger transportation market, which will reach US$908.8 billion by 2027.

Bussr is a world-leading AI-based mobility company that offers advanced technology for cities' public transportation, private transport operators, corporates, and schools. Bussr uses advanced AI algorithms for elegant booking, payments, analytics, and operations to facilitate mobility to millions of people.

With the confident aim of changing the way the world moves from A to B, Bussr is the bold vision of former Microsoft Chief Architect, co-founder and CTO Ajay Bhandari, former Rocket Internet founder and CEO Hussein Abdelkarim, and veteran technology consultant and co-founder I.M. Shousha.

Ajay, who will speak at the prestigious event, said, "We are seeing undeniable and massive population shifts towards urban centers, and now is the time to have an honest but optimistic discussion about how we can leverage technology to give equitable access to mobility services. It's also important that we make transport services and infrastructure sustainable and viable for operators and society overall. We are thrilled to talk at this important event, and we look forward to providing insight wherever we can."

With everyday citizens seeking better lives in our cities, the world's urban population has increased by 55% in the previous 50 years and now accounts for more than 80% of global GDP. Mobility is key to this growth, with demand for urban road passenger transport predicted to double by 2050.

Forward-thinking global centers have realized that mass transport, such as subways, buses, ferries, and trains, as well as cycling and walking, are the way of the future. The rise of electric cars (EVs), micromobility, Uber, Didi, and Grab have made some gains in recent years, but much more needs to be done to solve the global transportation sector's inherent throttling.

Ajay, Abdelkarim, and Shousha view today's transportation industry as a busy, but chaotic dance. Currently, private passengers must arrange their travel manually, connecting multiple modes of transportation at different times that may or may not be convenient. On the other hand, transport providers still use manual scheduling techniques based on outmoded tradition rather than real-time data, which results in massive inefficiencies across the board.

The trio believes that their digitization of mobility networks will add a coordinated elegance to the way people travel. With its AI-powered technology, each Bussr journey is a synchronized, smooth jump from point A to point B, leaving cities less polluted and filled with people rather than vehicles. All of this contributes to Bussr's overall objective of "Digitizing mobility. Connecting the world."

Bussr's Mobility-as-a-Service (MaaS) platform serves as a private-use app as well as an end-to-end, omnichannel payment, ticketing, and fleet management solution for transport providers. Its specialized AI platform constantly analyzes millions of data points to assist mass transit systems to operate at peak efficiency for both passengers and operators.

For private passengers, the Bussr app is accessible for both iOS and Android, and gives end-to-end travel alternatives such as public buses, ride-sharing, trains, or even bike and scooter rentals to complete a trip. The user simply enters Point A and Point B, and the Bussr app uses its advanced AI algorithms to offer the optimal route in terms of time, cost, and carbon footprint by reducing reliance on single-occupant motor vehicle use.

Bussr's platform, which is available to cities, transport operators, schools, and corporations, may be branded or white-labeled for any use case. Bussr enables ticketing and payment administration, as well as extensive data insight on passenger flow, timing, and density. Operators are then able to correctly predict and plan for future passenger and transportation demands.

More than 900 transport partners already benefit from Bussr technology. In addition, 60 major payment providers are already on the Bussr platform, with 100,000 retail stores in 500 cities and towns.

The global workshop will be hosted by RESPOND, an initiative of the BMW Foundation. RESPOND works with entrepreneurs across the globe to drive innovation, accelerate sustainable business models, and empower responsible leadership in order to solve the world's social, environmental, and economic challenges.

Media Contact:
HA, Bussr Technologies
Email: press@bussr.com
Web: https://www.bussr.com

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com