FDG's U.S. JV Chanje received Purchase Order of US$100,000,000 for Electric Vehicles from Ryder

Nov 15, 2018 13:40 JST

Source: FDG Electric Vehicles Ltd

HONG KONG, Nov 15, 2018 - (ACN Newswire) - FDG Electric Vehicles Limited ("FDG", stock code: 00729.HK) is pleased to announce that its U.S. JV Chanje Energy, Inc. (Chanje) received a purchase order for electric vehicles from Ryder Vehicle Purchasing, LLC ("Ryder") in the United States of America, which will be leased to Federal Express Corporation. The total contract sum together with the subsidy will generate an income of not less than US$100,000,000 to the Group. Pursuant to the Purchase Order, Chanje will deliver a minimum of 75% of the electric vehicles prior to 20 October 2019 and will deliver the remaining 25% of the electric vehicles prior to 20 June 2020.

About Ryder

Ryder is a FORTUNE 500 commercial fleet management, dedicated transportation, and supply chain solutions company. Ryder's stock (NYSE: R) is a component of the Dow Jones Transportation Average and the S&P MidCap 400 index. Ryder has been named among FORTUNE's World's Most Admired Companies, and has been recognized for its industry-leading practices in third-party logistics, environmentally-friendly fleet and supply chain solutions, and world-class safety and security programs. The Company is a proud member of the American Red Cross Disaster Responder Program, supporting national and local disaster preparedness and response efforts. For more information, visit www.ryder.com, and follow us on our Online Newsroom and social media pages: Facebook, LinkedIn, Twitter, and YouTube.

About Chanje

Chanje is a California-based, privately held electric vehicle and energy solutions company that specializes in the last mile industry. Chanje is led by a diverse group of automotive industry experts and clean energy entrepreneurs. The Company's vision is to drive the evolution of sustainable solutions that improve the last mile. Chanje introduced its first vehicle in 2017 and is the first company in North America able to deliver large scale fleets of commercial electric trucks immediately. Chanje will subsequently introduce turnkey energy infrastructure solutions and a full range of EVs including trucks, delivery vans, and shuttle buses in a variety of lengths and capacities. For more information, please visit: www.chanje.com.

About FDG Electric Vehicles Limited

FDG Electric Vehicles Limited ("FDG", stock code: 0729.HK) is a vertically-integrated pure electric vehicle manufacturer. FDG aims to become a globally recognised producer of more economical, greener and more energy-efficient pure electric vehicles. The Group's core businesses include ground-up research, design and development, and manufacturing and sales of pure electric vehicles; manufacturing and sales of lithium-ion batteries and cathode materials for lithium-ion batteries. FDG Kinetic Limited ("FKL", stock code: 0378.HK) is an indirect non-wholly-owned subsidiary.

For further information about FDG Electric Vehicles, please visit FDG's website at http://www.fdgev.com.

Source: FDG Electric Vehicles Ltd
Sectors: Daily Finance, Automotive, Daily News, Alternative Energy