Edison Motors and Plug Power Inc. Sign Agreement for Mass-Production of Hydrogen-Powered City Buses
15 Dezembro 2021 - 08:00PM
Edison Motors and Plug Power Inc. Sign Agreement for
Mass-Production of Hydrogen-Powered City Buses
Edison Motors, a leading Korean electric car manufacturer,
announced that the company signed an agreement with NY-based Plug
Power (NASDAQ: PLUG), a leading provider of turnkey hydrogen
solutions for the global green hydrogen economy, to develop and
bring to market a hydrogen fuel cell-powered electric city bus.
Plug Power’s 125kW ProGen fuel cell engine will provide power to
Edison Motors’ electric bus platform. The companies expect to have
a fuel cell electric bus prototype completed by the second half of
2022 and be prepared to launch a mass-market platform by the first
half of 2023.
“The fuel cell electric city bus project is just the beginning
of strategic cooperation between Edison Motors, and Plug Power,”
said Chairman Young-kwon Kang of Edison Motors. “In the future, we
hope to partner on other mobility applications including trucks,
vessels, drones, and PAVs. We believe that our combined technology
and know-how in electric buses will position us to sell fuel
cell-powered electric buses not only in Korea but also in other
overseas markets.”
Andy Marsh, CEO of Plug Power Inc., said, “Plug Power has a goal
to expand our global footprint to stimulate the Asian hydrogen and
fuel cell market. We acknowledge this is one of the fast-growing
markets in the world and believe that this partnership with Edison
Motors, will pave the way to achieving global net zero.”
Chairman Young-kwon Kang continued, “The two companies’
technological prowess and skills are expected to create stunning
synergy. This will enable us to give more choices to consumers by
providing different types of hydrogen mobility platforms befitting
their needs.”
Edison Motors sold the largest number of electric buses in Seoul
this year, for the second consecutive year, and the company is
actively expanding its electric bus platform with the launch of a
new inter-city long-range electric bus platform.
Plug Power is building the hydrogen economy as the leading
provider of comprehensive hydrogen fuel cell turnkey solutions. The
Company’s innovative technology powers electric motors with
hydrogen fuel cells amid an ongoing paradigm shift in the power,
energy, and transportation industries to address climate change and
energy security, while meeting sustainability goals. The Company
has deployed over 50,000 fuel cell systems for e-mobility, more
than anyone else in the world, and has become the largest buyer of
liquid hydrogen.
Plug Power Safe Harbor
This communication contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve significant risks and uncertainties about Plug Power
Inc. (“PLUG”), including but not limited to statements about
expansion into the hydrogen and fuel cell market in Asia and the
ability to develop technology for an electric bus platform and
bring a hydrogen fuel cell-powered electric city bus to market.
Such statements are subject to risks and uncertainties that could
cause actual performance or results to differ materially from those
expressed in these statements. For a further description of the
risks and uncertainties that could cause actual results to differ
from those expressed in these forward-looking statements, as well
as risks relating to the business of PLUG in general, see PLUG’s
public filings with the Securities and Exchange Commission,
including the “Risk Factors” section of PLUG’s Annual Report on
Form 10-K for the year ended December 31, 2020 and Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2021, June
30, 2021 and September 30, 2021. Readers are cautioned not to place
undue reliance on these forward-looking statements. The
forward-looking statements are made as of the date hereof, and PLUG
undertakes no obligation to update such statements as a result of
new information.
Edison Motors ContactHo-Young LeeCommunication
Directorcustomerservice@edisonmotorsev.com
Plug Power Media ContactCaitlin CoffeeAllison +
PartnersplugPR@allisonpr.com
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