The Debut of Chanje - the US JV of FDG

Friday, 11 August 2017, 12:45 HKT/SGT

Poised to provide commercial all-electric vehicle (EV) options at a previously unavailable scale and price

HONG KONG, Aug 11, 2017 - (ACN Newswire) - FDG Electric Vehicles Limited ("FDG") has officially introduced its US JV - 'Chanje', a new company bringing electric mobility and energy solutions at scale to the 'last mile' transportation market. Run by an executive team from Tesla, Daimler, Volkswagen, Schneider Electric and others, Chanje will soon provide commercial all-electric vehicle (EV) options at a previously unavailable scale and price.

Chanje will introduce a commercial all-electric truck available at mass scale in the U.S. market, a first for the industry. This vehicle is the only one of its kind, designed from the ground up as an EV, and purpose-built to be a long-life truck. It has received US certification and has qualified for inclusion in the US subsidies catalogue, an achievement in the US EV industry that marks an equal milestone in the development of the Chinese EV industry.

Interest in the Chanje EV is deeply spread, the initial medium-duty vehicle already has volume orders for delivery later this year. Post-sales, Chanje has entered into a strategic cooperation with Ryder, a US Fortune 500 company that will provide premium after-sales service and maintenance services. Going forward, Chanje expects to establish a manufacturing facility in the US based on demand and the need for further development, achieving localization of production.

US mainstream media, including CNBC, Los Angeles Times, CNET, and The Drive have already started reporting on Chanje.

"Little-Known EV Startup Chanje Promises Electric Commercial Van Deliveries by End of 2017" - The Drive

While startups developing electric passenger cars tend to grab most of the headlines, there is considerable interest in electric commercial vehicles out there as well. After all, commercial vehicles cover more mileage than passenger cars, and cuts in fuel costs will always be attractive to fleet operators.

The latest startup hoping to fill this niche is Chanje (pronounced "change"). The company has kept a low profile so far, but plans to begin U.S. deliveries of an electric medium-duty commercial van before the end of 2017. Chanje is based on California, but has close ties to Hong Kong-based FDG Electric Vehicles Limited. The peculiar spelling of the startup's name is a nod to FDG's Chinese Changjiang brand.

Chanje's business will ultimately extend beyond vans. It also plans to provide fleet customers with charging stations and the infrastructure for renewable energy, grid connectivity, or energy storage. Customers will simply buy a given amount of energy from Chanje, CEO Hansel explained, and the company will coordinate with third parties on the setup. [The Drive-Aug.10: http://tinyurl.com/yamkblxb]

"Electric truck to debut this year amid boom in EV investments" - CNBC

Chanje is making an all-electric truck to compete against medium duty, short-haul commercial vehicles. Deliveries are expected this year. The vehicle is expected to get the equivalent of 50 miles per gallon when fully charged. It says the initial Chanje electric vehicle will be built in China, but assembly will transition to the U.S.

"We see the opportunity to fundamentally disrupt the commercial truck market," said Hansel, CEO of Chanje.
[CNBC-Aug.10: http://tinyurl.com/yaqnhcx7]

"Chanje's electric delivery truck flattens noise and pollution" - CNet

Urban dwellers may be used to noisy delivery trucks spewing soot from tailpipes, but Chanje offers an antidote: its V8070 electric delivery van. At 26 and a half feet long, with a payload capacity of 6,000 pounds, the electric Chanje van is designed to handle urban deliveries.

CEO Bryan Hansel expresses a progressive desire to "remove noise and tail pipe emissions from delivery trucks in cities", a sentiment that any urban resident should appreciate. He expects Chanje's electric van to be a last mile solution, delivering everything from "potato chips to packages" in cities. Medium duty trucks, such as the model being marketed by Chanje, commonly work out of distribution centers in urban areas, picking up goods for local delivery. [CNet Road-Show-July29: http://tinyurl.com/y8r4q28k]

Source: FDG
Stock: HK:0729
Date: 2017-08-10

Topic: Press release summary Sectors: Automotive, Daily News
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