MOU signed with electric commercial vehicle manufacturer Ev Dynamics to provide advanced lithium-ion batteries in strategic partnership

3DOM Inc. (“3DOM”) and its subsidiary 3DOM (Singapore) Pte. Ltd. (“3DOM SG”) entered into a memorandum of understanding (“MOU”) in April 2022 with electric commercial vehicle manufacturer Ev Dynamics (Holdings) Ltd. (“EVD”) for a strategic partnership that aims to equip buses and other commercial vehicles manufactured by EVD with 3DOM’s advanced lithium-ion batteries.

3DOM SG will supply 3DOM batteries in volumes equivalent to 0.35 MWh by 2023, 10 MWh by 2024, and 100 MWh by 2025. EVD will manufacture electric commercial vehicles and standardized vehicle platforms that incorporate the 3DOM batteries and sell them worldwide. The three companies will also utilize battery and driving data for product and service improvements.

Some of EVD’s electric commercial vehicles will be used in the world’s first※1 carbon neutral commercial fleet service, which will be launched by a newly established affiliate of 3DOM. The service will use clean energy for charging, and emissions from battery and vehicle manufacturing will be offset with carbon credits※2 to achieve complete carbon neutrality.

3DOM SG Director & CEO Shusuke Oguro comments, “Through this partnership, we look forward to demonstrating our reliable, long-life batteries’ applicability to commercial vehicles such as bus fleets, which form one of the most promising markets for electrification. Together with EVD, we will work to remove barriers to electric commercial vehicle adoption and introduce truly sustainable fleet solutions.”

EVD Chairman Cheung Ngan comments, “Our mission is to be a global transformative leader for Zero-Emission Public Transportation and Last Mile Delivery Solutions. 3DOM’s advancements in battery lifespan and reliability address pressing market concerns and, combined with our breakthrough New Energy Vehicle (NEV) e-platform, will support our endeavor to help our global network of vehicle manufacturers and distributors overcome the regulatory and development cost hurdles in their regional markets.”

About Ev Dynamics (Holdings) Ltd.

Ev Dynamics is a leading global developer and manufacturer of commercial and public transportation New Energy Vehicles (NEVs) and OEM solutions, with a breakthrough B2B OEM e-platform chassis that supports rapid go-to-market of a full range of NEVs. Ev Dynamics has an expanding global presence in North and South America, Europe and Southeast Asia, in addition to its HQ in Hong Kong, state-of-the-art manufacturing facility in China, and worldwide senior management. Ev Dynamics is ramping up shipments to global customers and distributors worldwide, with a total production capacity of 23,000 units annually following completion of its second larger factory.

※1 According to internal research.

※2 BINEX Inc., a subsidiary of 3DOM, cultivates sorghum that is fast-growing, absorbs large quantities of carbon dioxide, and fixes some of that in its roots, which will generate carbon credits.