Changjiang EV Succeed in Production and Sales

Shanghai December 26th, 2016 Gasgoo – FDG Electric Vehicles issued an interim report, which revealed that sales revenue increased 2.7 times compared with the previous financial year. FDG's Changjiang EV achieved both success in production and sales in the first year of production. Meanwhile, deficit of FDG Electric Vehicles further narrowed, and FDG was expected to achieve success in 2017.

Hangzhou Changjiang EV started selling in April this year for the first time, and the main products were pure electric commercial vehicles, including eBOSS, eGLORY. Caozhong, Chairman of the Board of Directors for FDG Electric Vehicles, and President of Hangzhou Changjiang EV Holdings Limited, said on several occasions, “Changjiang EV has always been committed to the positive development of pure electric vehicles, and we have defined pure electric vehicles as electrical products. We will manufacture pure electric vehicles with more competitiveness through the breakthrough of core technology. He also mentioned the completely independent intellectual property rights of battery, motor and electronic control.

Miao Zhenguo, Vice President of FDG Electric Vehicles, said that FDG had been in red for six years, because we currently were in the investment stage. The loss were mainly caused by the investments in construction, R&D as well as establishment of a complete industrial chain. However, with the constant improvement of the layout, the loss was decreasing. If the fixed assets investment and R&D investment were not counted, FDG had already earned profit. Passenger vehicles would be officially launched into the market in 2017, when commercial vehicles and passenger vehicles would go hand in hand to seek greater opportunities for the enterprise.

The planning capacity of production base in Hangzhou includes 20,000 commercial vehicles and 80,000 passenger vehicles. At present, the passenger vehicle is undergoing the final debugging and experiment.