China’s First Hydrogen “Sharing Automobile” Project Launched in Nan’an District of Chongqing

10,000 Grove Hydrogen passenger cars will get on road in 2020-2021

WUHAN, China–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Grove?src=hash” target=”_blank”gt;#Grovelt;/agt;–Just click your phone and you can drive the car. There is no cost of
oil, maintenance or insurance when you return it. As sharing cars can
alleviate traffic jam and conserve energy, it is becoming a strong trend.

On April 11th, 2019, Chongqing Nan’an District government,
Chongqing Panda Automobile Rental Company and Chongqing Geosciences
Industry Technology Institute Co., Ltd. signed a three-party strategic
cooperation agreement to launch the hydrogen “sharing car” project,
which will be the first of its kind in China.

Currently, domestic sharing cars are mainly electrical, no hydrogen cars
have been applied in this field before.

Hydrogen energy, for its abundant reserves, clean, safe and
environment-friendly features, is crowned as the ultimate energy of
humankind. Using hydrogen resource in sharing cars will further reduce
emission and improve the environment.

According to the agreement, the first batch of 200 Grove hydrogen
passenger cars will be available for renting. The demonstrative
operation will verify its business and profit model in the sharing
automobile industry, which will provide valuable experience for later
large-scale operation in cities.

10,000 Grove hydrogen passengers cars will be put into 20 first- and
second-tier cities in China between 2020-2021. The promotion and
application of hydrogen energy automobile can effectively alleviate
traffic congestion in cities and facilitate energy conservation,
providing green transportation value to customers. In the future, AI,
big data, cloud technology will also be applied to offer better services
to the market.

The carbon fiber and aluminum alloy lightweight car body, fully
hydrogen-powered car, and the global leading hydrogen fuel cell system
enable the vehicle to be lighter and more energy effective. Just a few
minutes is enough to complete hydrogen filling and water is the only
emission in driving.

Panda rental business started in November 2015. It is the first one in
this field to adopt third-party credit with no deposit requirement,
gaining millions of registered users and realizing third channel
instance car renting and commercialized divided period renting
operation. The operation data rank high on the Internet sharing
transportation program and it is devoted to becoming a leading platform
for clean energy sharing transportation all over the world.

“Promoting hydrogen cars in the sharing of new energy automobile will
provide ‘worry-free’ product value and service beyond customer’s
expectation, enhance green and sharing transportation and realize
sustainable development of Panda Rental Company,” said Gaoyu, CEO of
Chongqing Panda.

Hao Yiguo, Founder of Grove Hydrogen Automobile said, “Hydrogen is an
important energy resource of future automobile industry. The cooperation
between Grove and Chongqing Panda, the leading intelligent network
sharing transportation enterprise, enables people to experience ’green
travel and roam the world ’ and facilitates green development in China.”

Grove product launch will be held at Shanghai International Motor Show
10:00-10:30 on April 17th. Visitors are welcome to see
several cool models released on that day at Booth 2H/2A02.

For more information, please visit the official website of Grove
hydrogen passenger automobile at www.grove-auto.com
(international/English) and www.grove.com.cn
(China/Chinese).

Contacts

Tracy Chen
Manager Corporate Communications
min.chen@grove-auto.com
www.grove-auto.com