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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.
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source http://www.acnnewswire.com/press-release/english/66447/