HONG KONG, Oct. 22, 2018 /PRNewswire/ -- China Trustful Group Limited ("China Trustful Group" or "Company", which is principally engaged in the sales of green transportation and electric vehicles, together with its subsidiaries, collectively referred to as "Group", stock code: 08265) announced that its 12M electric bus has passed the two tests of power consumption and continuous slope on the roads of Hong Kong, further displaying the quality of the Group's electric vehicle products.
The tests were conducted by TUV NORD Mobility (Shanghai) Co., Ltd. ("TUV NORD"). TUV NORD is a subsidiary of TUV NORD Greater China, and is mainly engaged in technical system and certification services to ensure the safety, operational and quality of products that meet the requirements and standards to operate as a leading position in the market. Therefore, the tests prove that the safety and quality of the Group's products meet the standards.
The 12M electric bus, which is designed to carry 70 passengers, was completed in March this year and passed the European Community Whole Vehicle Type Approval (ECWVTA). The tests on power consumption and the continuous slope ability of the 12M electric bus were conducted on multiple bus routes in Hong Kong from October 9 to October 11, 2018. The tests showed that the electricity consumption per kilometer at different speeds ranged from 0.733 to 1.171. As for the slope performance, the steepest slopes were 16% and 17.5% (including Park Island and The Chinese University Campus road).
According to statistics, from 2018 to 2030, China's new large and medium-sized electric passenger cars will bring market value up to RMB 14 trillion. The driving force for the rapid development of the new energy automobile industry is mainly due to the substantial increase in output at the supply end and the gradual increase of the market demand. It is estimated that by 2040, the global electric vehicle sales share will exceed that of traditional combustion engines, reaching 54%.
China will soon become the biggest market of new energy automobile in the world, turning it into a market focus for domestic and international manufacturers. Alongside the in-depth integration of artificial intelligence, new generation information technology and new materials into new energy vehicles, the new energy automobile industry has entered a period of strategic transition - a period in which it goes beyond the developing opportunity period.
At the same time, market import regulations have gradually tightened. On May 17, 2018, the National Development and Reform Commission issued the "Regulations for Investment Management of Automobile Industry" (draft for comments), outlined to strictly check on investment projects in the automobile industry and to actively promote a healthy and orderly development of new energy automobiles.
Mr. Fei Jie, Chairman of China Trustful Group Limited said: "The two tests conducted for the 12M electric bus sufficiently prove that the quality of the Group's products is up to standards. We believe that the number of electric buses is expected to be aligned with the global trend towards environmental protection. It is expected that there will be a significant growth to occur in the next few years, and the electric automobile business will continue to be the main driving force of the Group's development, which will bring favorable returns to the Group and its shareholders." Mr. Zhang Gen Jiang, Executive Director of China Trustful Group Limited added: "In view of the huge support from governments around the world, in particular China, on the development of green transportation and the electric automobile industry, we are highly optimistic about the future. The Group will continue to actively develop electric automobile projects and electric bus operating system consultant solutions in different countries and cities, striving to become one of the most competitive suppliers of electric vehicles, rechargeable batteries and automobile parts.
About China Trustful Group Limited
China Trustful Group Limited is principally engaged in the electric vehicle industry. The revenue from the Electric Vehicle Business mainly comes from sales of electric vehicles. related parts and services. It also provides consulting services and solutions for electric buses. The Group's customers cover Mainland China, Hong Kong, United States, and Southeast Asian countries (such as Indonesia). The Group also retails and wholesales brands of silverware and luxury goods in the Mainland.