Ev Dynamics Electric Delivery Vehicles Begin Road Testing by One of the World’s Largest Food Service Companies

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HONG KONG, May 19, 2022 (GLOBE NEWSWIRE) -- Ev Dynamics (Holdings) Limited (HK: 0476), a leading developer and manufacturer of new energy vehicles (NEVs), announced that one of the largest food service companies in the world has begun road testing 10 of its 6-meter electric delivery trucks in Mexico City.

The customer’s current delivery fleet supports one of the world’s broadest distribution networks, with thousands of points of sale and tens of thousands of routes across 33 countries.

The vehicles’ fully equipped and configured Ev Dynamics e-chassis and cab were purchased by the customer and delivered to Mexico in April. The customer installed the rear storage container on the chassis and added customer branding, including boldly displaying “Vehículo Eléctrico” across both side panels. “We see this on-road evaluation by the customer’s delivery personnel as the final step toward a major global vehicle supply agreement with this multinational conglomerate,” stated Ev Dynamics CEO, Miguel Valldecabres. “Our EV technology supports their commitment to environmentally friendly last-mile deliveries like no other solution on the road today, from the right price point and flexible customization to the best technology, performance and reliability.”

The last-mile delivery vehicles are based on Ev Dynamics’ proprietary e-platform chassis that was designed specifically for the rapid development of NEVs. The e-platform chassis houses the drivetrain, battery and vehicle control unit upon which an OEM can easily install an existing vehicle body.

This turn-key approach also limits the regulatory approvals required to establish new vehicle designs and a specialized NEV manufacturing facility, resulting in lower development costs and faster time-to-market.

Demonstrating the flexibly of the platform’s customization, for this new customer Ev Dynamics also designed and integrated a special battery charging system, cooling system and battery casing.

Unlike many of its NEV competitors and public company peers, Ev Dynamics has already dispatched more than 1,000 buses and luxury coaches globally. Last September, Ev Dynamics shipped to the Philippines an initial 70 of the 500 COMET electric minibuses under a long-term supply agreement with GET Worldwide.

About Ev DynamicsEv Dynamics (Holdings) Limited is a pioneer and an emerging prominent player in the world’s new energy commercial vehicles market. It is a component and whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It provides integrated driving and logistics solutions based upon a solid technological foundation in diverse areas, including new energy platform power systems and key components. The company’s NEV R&D center is located in Shenzhen and manufacturing base in Wulong, Chongqing, China, with a sales network across Mainland China, Hong Kong, Asia Pacific and South America. To learn more, go to evdynamics.com.

Important Cautions Regarding Forward-Looking StatementsThis press release contains "forward-looking statements." Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar expressions, as well as statements in future tense, often signify forward-looking statements. These forward looking statements include, without limitation, statements relating to the Ev Dynamics (Holdings) Limited’s (or the “Company’s”) plans to enter the U.S. market and other markets, the Company’s plans to increase manufacturing at its facilities, the Company’s sales increasing, the Company’s ability to attract new customers, the Company’s intent into new partnerships, the Company’s plans to make additional investments, the Company’s products achieving marketing acceptance and similar statements. These statements are based on the Company's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Ev Dynamics (Holdings) Limited or its advisors that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the significant risks and uncertainties inherent in its business. Such risks include, but are not limited to the following: the Company’s goals and strategies, expansion plans, future business development, financial condition and results of operations; operating history; risks associated with electric vehicles, the Company’s ability to develop, manufacture, and deliver high quality products and solutions, and appeal to customers; products and solutions defects or any other failure to perform as expected; the Company’s ability to compete successfully; the Company’s ability to build its brand and withstand negative publicity; cancellation of order; the trends in, and size of, global and target EV markets; the Company’s expectations regarding demand for, and market acceptance of, its products and services, its relationships with customers, contract manufacturers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; changes in demand and government incentives, subsidies, or other favorable government policies; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s website and filings with The Stock Exchange of Hong Kong Limited. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof, except as required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement.

Investor Relations ContactRon Both or Justin LumleyCMATel +1 (949) 432-7566Email Contact

Media ContactTim RandallCMATel +1 (949) 432-7572Email Contact

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Source: Ev Dynamics (Holdings) Limited

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