China Dynamics Delivers its First Air-conditioned Electric Buses to the Philippines

Actively Expands Overseas
Seizes Opportunities from Vehicle Modernization

HONG KONG, Nov 19, 2020 - (ACN Newswire) - China Dynamics (Holdings) Limited (Stock Code: 476, together with its subsidiaries, collectively referred to as "China Dynamics" or the "Group"), a provider of new energy vehicles and integrated technology solutions, is pleased to announce that the Group has completed the delivery of electric buses to Davao, the third largest city in the Philippines. This successful effort not only demonstrates the Group's commitment to establishing a foothold overseas, but also highlights its competitive advantages in the new energy vehicles market.

China Dynamics has completed the delivery of electric buses to Davao, the third largest city in the Philippines

China Dynamics tailor-made the electric vehicle for downtown shuttle service in the Philippines. The electric bus, running on fast-charging lithium ion batteries, is equipped with full air-conditioning and a retractable ramp that has been specially designed to meet the needs of persons with disabilities and the elderly - the first of its kind in the Philippines public transportation network. Leveraging the Group's advanced cloud-based software, which monitors the vehicle's diagnostics to determine potential maintenance issue, the electric bus will be able to deliver efficient, reliable and comfortable transport service to the public.

Mr. Miguel Valldecabres Polop, CEO of China Dynamics, said, "We see tremendous opportunities emerging from the Philippines, given that the country aims to have 21% of its vehicle population become electric by 2030 . This means that thousands of small buses (i.e. jeepneys) currently in operation will need to be replaced. Besides, we are truly grateful to have Global Electric Transportation ("GET"), the first electric bus operator in the Philippines, become our business partner and proponent, supporting our commitment and dedication to environmental and social progress. Such cooperation will undoubtedly lead to significant milestones for China Dynamics going forward."

As the most popular mode of transportation in the Philippines, around 270,000 franchised jeepneys are estimated in operation in the country. Many of these vehicles use second-hand and poorly maintained engines that significantly contribute to urban air pollution. Under the Comprehensive Roadmap on electric vehicles devisd by the government, about 60,000 jeepneys are expected to be modernized.

GET is one of the main players that aim to deliver zero-emission vehicles to replace the old jeepneys. Its goal is to bring pollution-free transportation to the Philippines and improve the living conditions for the local population.

Mr. Cheung Ngan, Chairman of China Dynamics, believes the electric bus order is a testament to the Group's strong fundamentals. He said, "The launch of the electric bus in the Philippines further highlights China Dynamics' core technological advantages in the burgeoning new energy vehicle market. Together with the successful launch of our first electric accessible minibus in Hong Kong earlier this month, we are confident in securing more orders from both the overseas and local market. As we do so, China Dynamics will be able to generate favorable returns and move closer towards realizing its sustainable business strategy."

About China Dynamics (Holdings) Limited (Stock Code: 476)
China Dynamics (Holdings) Limited is a pioneer and practitioner in the field of new energy commercial vehicles in China and 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 areas including new energy platform power system and its key components, light structural design, fuel cell system integration technology and intelligent network technology. The Group has two production bases in Chongqing, one in Wulong and the other in Qijiang. Moreover, the Group will actively develop the Hong Kong and overseas bus markets. It has different models of new energy commercial vehicles launched to the market for sale as permitted and announced by the Ministry of Industry and Information Technology.

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Source: China Dynamics (Holdings) Limited

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