Press Release – Page 120 – Newswire Pakistan

May 30, 2023

Hitachi Energy signs agreements with ENOWA and Saudi Electricity Company to design and develop the first phase of visionary NEOM region transmission system

Collaboration to accelerate the development of NEOM in Saudi Arabia with up to 9 gigawatts of power transmission capacity

Zurich, Switzerland, May 30, 2023 (GLOBE NEWSWIRE) — Hitachi Energy, a global technology leader advancing a sustainable energy future for all, has signed agreements under the supervision and management of the Ministry of Energy with the Saudi Electricity Company (SEC) and with ENOWA. The agreements include the supply of three high-voltage direct current (HVDC) transmission systems to end customer ENOWA, the utility company for NEOM in Northwest Saudi Arabia. Built with sustainability in mind, NEOM is among Saudi Arabia’s Giga-Projects¹ reshaping the future of development. The three HVDC links will have a total power capacity of up to 9 gigawatts (GW).

The agreements include an order from ENOWA’s engineering, procurement and construction management (EPCM) partner, the Saudi Electricity Company (SEC) awarded to Hitachi Energy and its consortium partner, Saudi Services for Electro Mechanical Works (SSEM), to provide one of the world’s first 3 GW, 525 kilovolt (kV) HVDC Light^® transmission system connecting Oxagon, NEOM’s regional development, with the larger Yanbu area more than 650 kilometers away in Western Saudi Arabia.

Hitachi Energy’s scope of supply includes design, engineering, procurement of HVDC technology and commissioning of the HVDC Light converter stations. Whilst SSEM – a leading Saudi EPC specialized in power, water and industrial projects – will design and supply the AC equipment portion and perform the construction and the installation. The converter stations convert the power from AC to DC then back to AC for integration into the receiving grid. The converters will be sourced by and supplied to Saudi Electricity Company, who were contracted in 2022 by ENOWA to act as their EPCM to build this first HVDC system for NEOM.

Further to this, Hitachi Energy and ENOWA have signed an early works and capacity reservation agreement for two additional HVDC projects, each rated up to 3 GW. Under this agreement, both companies commit to having the resources and capacity necessary to implement these two HVDC systems. As part of a new scalable and modular regional network design that is targeted to seamlessly integrate future renewables and energy storage technologies in the NEOM Energy System, making it unique in terms of size and complexity. The co-operation will also explore opportunities to develop local competencies in the Kingdom, including ways to sustainably assemble the necessary HVDC Light components locally.

“We are delighted to strengthen our collaboration with ENOWA and Saudi Electricity Company in order to power one of the most visionary development projects of all time,” said Niklas Persson, Managing Director of Hitachi Energy’s Grid Integration business. “As the world progresses towards a more sustainable future, our expertise and HVDC technologies are true enablers of the electrification of the global energy system and the transition to renewables.”

“By securing the first capacities for such an important part of our future grid in only one year since the decision to use this technology, we show ENOWA’s commitment to supporting Saudi Vision 2030 in collaboration with Saudi Electricity Company and Hitachi Energy,” said Thorsten Schwarz, Executive Director of Grid Technology & Projects, Energy of ENOWA.

ENOWA, NEOM’s energy and water company, produces and delivers clean and sustainable energy for industrial and commercial applications. The company benefits from NEOM’s greenfield site and strategic location in the northwestern part of Saudi Arabia, with abundant solar and wind resources. ENOWA will act as a catalyst and incubator for developing new, sustainable energy and water businesses while creating a robust economic sector regionally.

ENOWA seeks by its commitment to renewable energy and efficient water management, to become a global reference for industry leaders and setting a benchmark for sustainable economic circular systems around the world. Formed in 2022, ENOWA is the principal shareholder in the world’s largest green hydrogen production plant set to be commissioned in 2026 and will enable NEOM to be a global green hydrogen hub.

NEOM will be powered by 100 percent clean energy, through renewable solar, wind and green hydrogen-based energy. The region is designed to be a blueprint for sustainable urban living with minimal impact on the environment and enhanced livability.

Note to editors:
Hitachi Energy’s HVDC solution combines world-leading expertise in HVDC converter valves; the MACH digital control platform², converter power transformers and high-voltage switchgear; as well as system studies, design and engineering, supply, installation supervision and commissioning.

HVDC Light is a voltage source converter technology developed by Hitachi Energy, which was launched over 25 years ago. It is the preferred technology for many grid applications, including interconnecting countries, integrating renewables and “power-from-shore” connections to offshore production facilities. HVDC Light’s defining features include uniquely compact converter stations and exceptionally low electrical losses.

Hitachi Energy pioneered commercial HVDC technology almost 70 years ago and has delivered more than half of the world’s HVDC projects.

Hitachi Energy’s consulting services assist energy customers in pinpointing their challenges and suggesting customized solutions tailored to their unique requirements. Our consultants operate independently, with a product and system-agnostic approach, possessing in-depth knowledge of global technologies, standards, and local grid codes.

1 Saudi’s Giga-Projects
2 Modular Advanced Control for HVDC (MACH)

See also:
Hitachi Energy to supply the first ever large-scale HVDC interconnection in the Middle East and North Africa (2022)
Hitachi Energy and Gulf Cooperation Council Interconnection Authority sign contract to upgrade high-voltage direct current transmission system (2023)

ENOWA website

-END-

About Hitachi Energy
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of over $10 billion USD.
https://www.hitachienergy.com
https://www.linkedin.com/company/hitachienergy
https://twitter.com/HitachiEnergy

About Hitachi, Ltd.

Hitachi drives Social Innovation Business, creating a sustainable society through the use of data and technology. We solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products. Hitachi operates under the business structure of “Digital Systems & Services” – supporting our customers’ digital transformation; “Green Energy & Mobility” – contributing to a decarbonized society through energy and railway systems, and “Connective Industries” – connecting products through digital technology to provide solutions in various industries. Driven by Digital, Green, and Innovation, we aim for growth through co-creation with our customers. The company’s consolidated revenues for fiscal year 2022 (ended March 31, 2023) totaled 10,881.1 billion yen, with 696 consolidated subsidiaries and approximately 320,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

Attachment

Hitachi Energy signs agreements with ENOWA and Saudi Electricity Company to design and develop the first phase of visionary NEOM region transmission system

Jocelyn Chang
Hitachi Energy
jocelyn.chang@hitachienergy.com

GlobeNewswire Distribution ID 8848737

May 28, 2023

ROSEN, A LEADING LAW FIRM, Encourages First Republic Bank Investors with Losses Over $2MM to Secure Counsel Before Important Deadline in Securities Class Action – FRC, FRC-PI, FRC-PH, FRC-PJ, FRC-PK, FRC-PL, FRC-PM, FRC-PN

NEW YORK, May 28, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of First Republic Bank (NYSE: FRC, FRC-PI, FRC-PH, FRC-PJ, FRC-PK, FRC-PL, FRC-PM, FRC-PN) between January 14, 2021 and March 14, 2023, both dates inclusive (the “Class Period”), of the important June 23, 2023 lead plaintiff deadline.

SO WHAT: If you purchased First Republic securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the First Republic class action, go to https://rosenlegal.com/submit-form/?case_id=13005 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 23, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about First Republic’s business, operations, and prospects. Specifically, defendants: (1) misrepresented the strength of First Republic’s balance sheet and liquidity position; (2) understated the significant pressure rising interest rates posed to First Republic’s business model; (3) misrepresented the strength of First Republic’s ability to deliver consistent results across different interest rate environments; (4) misrepresented the diversity of First Republic’s deposit funding base; and (5) misrepresented First Republic’s ability to generate net interest income (“NII”) growth and maintain stable net interest margin (“NIM”). When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the First Republic class action, go to https://rosenlegal.com/submit-form/?case_id=13005 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8847801

May 28, 2023

GWGHQ DEADLINE NOTICE: ROSEN, A TOP RANKED LAW FIRM, Encourages GWG Holdings, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – GWGHQ

NEW YORK, May 27, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of GWG Holdings, Inc. L Bonds or Preferred Stock of GWG (“GWG securities”) (OTC: GWGHQ) between December 23, 2017 and April 20, 2022, both dates inclusive (the “Class Period”), of the important June 2, 2023 lead plaintiff deadline.

SO WHAT: If you purchased GWG securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the GWG class action, go to https://rosenlegal.com/submit-form/?case_id=14048 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 2, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) they intended to misappropriate GWG assets; (2) GWG’s life insurance investment business had failed; and (3) GWG could only repay prior investors by issuing increasing amounts of securities to new investors. In essence, defendants had turned GWG into a Ponzi scheme. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the GWG class action, go to https://rosenlegal.com/submit-form/?case_id=14048 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

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GlobeNewswire Distribution ID 8847793

May 28, 2023

ROSEN, NATIONAL TRIAL LAWYERS, Encourages Fulcrum Therapeutics, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – FULC

NEW YORK, May 27, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Fulcrum Therapeutics Inc. (NASDAQ: FULC) between March 3, 2022 and March 8, 2023, both dates inclusive (the “Class Period”), of the important June 27, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Fulcrum securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Fulcrum class action, go to https://rosenlegal.com/submit-form/?case_id=15766 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 27, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the preclinical data submitted in support of FTX-6058 (a prospective drug for the potential treatment of sickle-cell disease) showed safety concerns regarding potential hematological malignancies; (2) the foregoing safety concerns increased the likelihood that the FDA would place a clinical hold on preclinical studies of FTX-6058; (3) accordingly, Fulcrum had overstated FTX 6058’s clinical and/or commercial prospects; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Fulcrum class action, go to https://rosenlegal.com/submit-form/?case_id=15766 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

GlobeNewswire Distribution ID 8847787

May 27, 2023

‫گوئگانگ شہر کے گنگبی ڈسٹرکٹ میں نیو انرجی الیکٹرک گاڑیاں آسیان “بلیو مارکیٹ” میں داخل ہو گئیں

گوئگانگ ، چین، 27 مئی، 2023 /ژنہوا-ایشیانیٹ/– حال ہی میں ، گوانگسی گوئگانگ فوشوائی الیکٹرک وہیکل کمپنی لمیٹڈ اور پی ٹی ۔ڈی ایف یو انٹرنیشنل انڈونیشیا نے جکارتہ ، انڈونیشیا میں 20،000 نیو انرجی الیکٹرک گاڑیوں کے لئے ہدایتی خریداری کے معاہدوں کی پہلی کھیپ پر دستخط کیے۔ پی ٹی ۔ڈی ایف یو انٹرنیشنل انڈونیشیا کے سی ای او، کرسٹل ہوانگ نے کہا کہ عالمی سبز ترقی کی لہر کی وجہ سے، گوئگانگ شہر کے گنگبی ڈسٹرکٹ سے نیو انرجی الیکٹرک گاڑیاں مقامی رہائشیوں کے سفری اور عالمی سبز اور کم کاربن ترقیات میں مثبت کردار ادا کریں گی۔

گنگبی ضلع میں نیو انرجی الیکٹرک گاڑیاں لاؤ نمائش کنندگان کی ایک بڑی تعداد کی توجہ حاصل کر رہی ہیں۔

اس سال 20 ویں چین-آسیان ایکسپو کے غیر ملکی نمائشی دورے کے افتتاح کے ساتھ ، گنگبی ضلع میں نیو انرجی الیکٹرک گاڑیاں سنگاپور ، فلپائن ، لاؤس اور دیگر ممالک میں منظرعام پرآئیں، اور آٹوموبائل انٹرپرائزز نے مقامی کاروباری اداروں اور رہائشیوں کے ساتھ بالمشافہ تبادلہ اور بات چیت کی ،اس طرح جامع مارکیٹ توسیع کے دور میں داخل ہوئے۔ گنگبی ضلع، گئی گانگ میونسپلٹی کے پبلسٹی ڈپارٹمنٹ کے مطابق آسیان مارکیٹ میں ظہور کے پیچھے گنگبی ضلع کی طرف سے کئی سالوں سے فروغ دی جانے والی صنعتی مسابقت ہے۔

2015 میں ، گنگبی ضلع نے چین -آسیان نیو انرجی الیکٹرک وہیکل پروڈکشن بیس تعمیر کرنے کا منصوبہ بنایا۔ فی الحال ، اس بیس نے ایما ، لویوان ، ٹیلیگ ، لیما ، زوبو اور او پی اے آئی جیسے 100 سے زیادہ معروف مقامی تیار ہونے والے آٹوموبائل انٹرپرائزز کو ، ساتھ ہی ساتھ ہاؤپائی اور فینینگ جیسے معاون کاروباری اداروں کو بھی متعارف کرایا ہے۔ 50 سے زائد اداروں کو مکمل کیا گیا اور ان میں پیداواری عمل شروع کردیا گیا ہے ، جس سے 5 ملین دو پہیوں والی الیکٹرک گاڑیاں ، 500،000 تین پہیوں والی الیکٹرک گاڑیاں اور 5 ملین الیکٹرک گاڑیوں کے پرزوں کی سالانہ پیداواری صلاحیت پیدا ہوئی ہے ، جس کی مقامی مماثلت کی شرح 80٪ ہے۔ برانڈ کا ارتکاز، پرزوں کی مماثلت کی شرح اور ذہانت کی سطح ملک میں سرفہرست ہے۔

ضلع گنگبی میں الیکٹرک وہیکل انٹرپرائزز کے پاس بہترین معیار کے ساتھ مصنوعات کی ایک مکمل رینج ہے ، جس میں 100 سے زیادہ ماڈلز جیسے الیکٹرک سائیکلیں ، الیکٹرک موپیڈ اور الیکٹرک ہائی اسپیڈ موٹر سائیکلیں شامل ہیں ، جو بیٹری کی زندگی ، حفاظت ، ذہانت اور توانائی کے تحفظ کے لحاظ سے صنعت میں نمایاں ہیں۔ گوانگسی نیو انرجی الیکٹرک وہیکل پروڈکٹس کوالٹی ٹیسٹنگ سینٹر کی ٹیسٹنگ لیول اس کے دائرہ اختیار کے اندر ملک میں سرفہرست ہے۔ 2022 میں ، گنگبی ضلع میں نیو انرجی الیکٹرک گاڑیوں کی پیداواری قدر میں 99.3٪ کا اضافہ ہوا ، اور پورے صنعتی سلسلے کی مجموعی پیداوار کی قدر21 بلین چینی یوآن سے تجاوز کر گئی۔

2022 میں ، اعلی معیار اور کم قیمت کی مصنوعات کے ساتھ اور آر سی ای پی ، چین – آسیان اور دیگر تجارتی معاہدوں کے مواقع سے فائدہ اٹھاتے ہوئے ، چین – آسیان نیو انرجی الیکٹرک وہیکل پروڈکشن بیس کا برآمدی تجارتی حجم 8.7 ملین امریکی ڈالر سے زیادہ تک پہنچ گیا۔ گوانگسی چین کا واحد صوبہ ہے جو آسیان کے ساتھ زمینی اور سمندری راستے سے منسلک ہے اور یہ جنوب مغربی چین میں سمندر تک سب سے آسان رسائی ہے۔ گوئگانگ گوانگسی کے جنوب مشرق میں واقع ہے ، جس میں ہموار تیز رفتار ریلوے ، ایکسپریس وے اور اعلی درجے کی آبی گزرگاہیں ہیں، اور ہر روز 100 سے زیادہ تیز رفتار ٹرینیں گوئگانگ سے گزرتی ہیں۔ ژی جیانگ گولڈن واٹر وے پورے علاقے سے گزرتا ہے ، اور پورے سال کے دوران 3،000 ٹن بحری جہاز یہاں جہاز رانی کرسکتے ہیں اور 30 گھنٹوں کے اندر براہ راست گوانگ ڈونگ ، ہانگ کانگ اور مکاؤ پہنچ سکتے ہیں۔ اپنے علاقے میں گوئگانگ بندرگاہ پرل ریور سسٹم میں 100 ملین ٹن کی پہلی اندرون ملک دریا کی بندرگاہ ہے ، اور یہ جنوب مغربی چین سے ہانگ کانگ ، مکاؤ اور آسیان ممالک کو سامان برآمد کرنے کے لئے سب سے آسان چینلوں میں سے ایک ہے۔ فی الحال ، گنگبی ضلع میں نیو انرجی الیکغرک گاڑیاں ہندوستان ، تھائی لینڈ ، نیدرلینڈز ، نیپال ، پیرو ، کوسٹا ریکا اور مڈغاسکر کو برآمد کی گئی ہیں۔

ماخذ: گنگبی ضلع، گوئگانگ میونسپلٹی کا پبلسٹی ڈپارٹمنٹ

تصویری منسلکات کے لنکس: https://iop.asianetnews.net/view-attachment?attach-id=440964

May 27, 2023

New Energy Electric Vehicles in Gangbei District of Guigang City Enters the ASEAN “Blue Ocean” Market

GUIGANG, China, May 27, 2023 /Xinhua-AsiaNet/– Recently, Guangxi Guigang Fushuai Electric Vehicle Co., Ltd. and PT. DFU INTERNATIONAL INDONESIA signed the first batch of directional purchase contracts for 20,000 new energy electric vehicles in Jakarta, Indonesia.

Crystal Huang, CEO of PT. DFU INTERNATIONAL INDONESIA, said that driven by the global green development wave, new energy electric vehicles from Gangbei District of Guigang City would make positive contributions to residents’ travel and global green and low-carbon development.

Caption: New energy electric vehicles in Gangbei District are attracting a large number of Lao exhibitors.

With the opening of overseas exhibition tour of the 20th China-ASEAN Expo this year, new energy electric vehicles in Gangbei District appeared in Singapore, the Philippines, Laos and other countries, and automobile enterprises exchanged and negotiated face-to-face with local enterprises and residents, entering a period of comprehensive market expansion. Behind the emergence in the ASEAN market is the industrial competitiveness promoted by Gangbei District for many years, according to the Publicity Department of Gangbei District, Guigang Municipality.

In 2015, Gangbei District planned to build China-ASEAN New Energy Electric Vehicle Production Base. At present, the base has introduced more than 100 well-known domestic finished automobile enterprises such as Emma, Luyuan, Tailg, Lima, Zuboo and OPAI, as well as supporting enterprises such as Haopai and Feineng. More than 50 enterprises have been completed and put into production, forming an annual production capacity of 5 million two-wheeled electric vehicles, 500,000 three-wheeled electric vehicles and 5 million electric vehicle parts, with a local matching rate of 80%. Brand concentration, matching rate of parts and intelligence level rank among the top in the country.

Electric vehicle enterprises in Gangbei District have a complete range of products with excellent quality, including more than 100 models such as electric bicycles, electric mopeds and electric high-speed motorcycles, leading the industry in terms of battery life, safety, intelligence and energy conservation. The testing level of Guangxi New Energy Electric Vehicle Products Quality Testing Center within its jurisdiction ranks among the top in the country. In 2022, the output value of new energy electric vehicles in Gangbei District increased by 99.3%, and the total output value of the whole industrial chain exceeded 21 billion Chinese yuan.

In 2022, with high quality and low price products and taking advantage of opportunities of RCEP, China-ASEAN and other trade agreements, the export trade volume of China-ASEAN New Energy Electric Vehicle Production Base reached more than USD 8.7 million. Guangxi is the only province in China connected with ASEAN by land and sea, and it is the most convenient access to the sea in Southwest China. Guigang is located in the southeast of Guangxi, with smooth high-speed railways, expressways and high-grade waterways, and more than 100 high-speed trains transiting through Guigang every day. Xijiang Golden Waterway runs through the whole territory, and 3,000-ton ships can be navigable all the year round and can directly reach Guangdong, Hong Kong and Macao within 30 hours. Guigang Port within its jurisdiction is the first inland river port of 100 million tons in the Pearl River system, and it is one of the most convenient channels for exporting materials from Southwest China to Hong Kong, Macao and ASEAN countries. At present, new energy electric vehicles in Gangbei District have been exported to India, Thailand, the Netherlands, Nepal, Peru, Costa Rica and Madagascar.

Source: The Publicity Department of Gangbei District, Guigang Municipality

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