Ev Dynamics Sponsors Poly U Ammonia-Powered Vehicle Research Project

HONG KONG, Aug 18, 2021 - (ACN Newswire) - Ev Dynamics (Holdings) Limited (the "Company", Stock Code: 476, together with its subsidiaries, collectively "Ev Dynamics" or the "Group"), a provider of new energy vehicles and technology integrated solutions, is pleased to sponsor The Hong Kong Polytechnic University ("Poly U") to carry out its ammonia-powered vehicle research project and development of ammonia fuel cells to power electric minibuses and other public transportation.

Mr. Cheung Ngan, Chairman of Ev Dynamics (left 4), said, "We give full support to the ammonia-powered vehicle research project headed by Prof. Cheng Ka-wai, Eric, Department of Electrical Engineering, PolyU (right 3). We believe the results of such research will not only provide reference for the application of ammonia in new energy vehicles, but will also help to popularize clean energy and further promote the sustainable development of society, economy and the environment."

The research project has been jointly initiated by the Department of Electrical Engineering and Department of Applied Physics of Poly U. Its aim is to develop an ammonia-powered fuel battery that has higher energy storage efficiency than lithium batteries, is safer than hydrogen batteries, and can achieve zero carbon emissions to drive light electric vehicles.

Mr. Cheung Ngan, Chairman of Ev Dynamics, said, "As a member of the new energy vehicle industry, we actively support the research of green and new energy vehicles. We are pleased to see that the Hong Kong academic sector is taking the initiative to conduct research on ammonia-powered vehicles, and is the reason why we have decided to give full support to Poly U on the project. We believe the results of such research will not only provide reference for the application of ammonia in new energy vehicles, but will also help to popularize clean energy and further promote the sustainable development of society, economy and the environment."

Mr. Miguel Valldecabres Polop, CEO of Ev Dynamics, said, "Ammonia does not release carbon dioxide when ignited, and the process of manufacturing, storing and transporting ammonia is relatively simple and safe. Therefore, ammonia is set to represent a new direction for the development of new energy vehicles. In addition to actively manufacturing and selling electric vehicles, we also continue to develop new technologies on our own as well as support Poly U and other institutions in their research on new energy vehicles. We hope to promote the development of new energy vehicles and promulgate the idea of adopting a more environmentally friendly lifestyle in modern day society."

About Ev Dynamics (Holdings) Limited (Stock Code: 476)Ev 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 systems and their key components. The Group has a production base in Chongqing and it has developed its sales network in Mainland China, Hong Kong, Asia Pacific and South America.

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