Press release content from Business Wire. The AP news staff was not involved in its creation.

Press release content from Business Wire. The AP news staff was not involved in its creation.

WUHAN, China--(BUSINESS WIRE)--Apr 16, 2019--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 11 th, 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.

ADVERTISEMENT

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.

ADVERTISEMENT

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 17 th. 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).

View source version on businesswire.com:https://www.businesswire.com/news/home/20190416005732/en/

CONTACT: Tracy Chen

Manager Corporate Communications

min.chen@grove-auto.com

www.grove-auto.com

KEYWORD: UNITED KINGDOM EUROPE ASIA PACIFIC CHINA

INDUSTRY KEYWORD: TRANSPORT OTHER TRANSPORT TRAVEL OTHER TRAVEL ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE ENVIRONMENT RETAIL SPECIALTY

SOURCE: Grove

Copyright Business Wire 2019.

PUB: 04/16/2019 12:59 PM/DISC: 04/16/2019 01:02 PM

http://www.businesswire.com/news/home/20190416005732/en