RONN Motor Group, Inc. Executes Its First Significant Economic Development Partnership With Chinese Economic Development Officials To Support The New China Hydrogen Initiative To Advance Sustainable Hydrogen Technologies, Infrastructure And Fuel Cell Vehicles
SCOTTSDALE, Ariz., March 26, 2019 /PRNewswire/ -- RONN Motor Group, Inc.'s CEO, Ronn Ford, announced that, "In addition to our already executed bus development JV with another Chinese group, RONN Motor Group, Inc. has also executed its first co-development partnership with a major Chinese provincial Economic and Technological Development Zone (CEDZ) as part of the China's new hydrogen initiative to begin advancing sustainable hydrogen technologies, infrastructure and fuel cell vehicles."
Ronn Ford also stated that, "While most terms are still confidential, under our new substantial subsidy agreement, and based on the strength of our investors, government commitments could reach beyond one billion USD over time; the economic development agreements can provide capital, factories, land and purchase orders."
Mr. Ford added, "Over the next two years our growth strategy's first phase will be setting up an automotive R&D enter, introducing our lightweight fuel cell bus and the much-anticipated second-generation FCEV platform 'Phoenix' in China. We have budgets prepared and are expecting to build a new super factory for our fuel cell automobiles and are in discussions with some Chinese OEMs as potential operation partners to combine our core design, technology, brand, and development strengths with the OEM's strengths, such as existing mass production capabilities."
Kevin Hong, founder and CEO of Arbor Lake Capital, the advisory group for RMG, added, "China is expected to become a leader and invest billions to accelerate the hydrogen infrastructure development, potentially even more than that invested for battery powered vehicles. Subsidies have been lowered for battery electric vehicles, however, subsidies for fuel cell vehicles are anticipated continue for the next six years."
In the news:
CHINA IS MOVING TO LEAD THE WORLD IN HYDROGEN FUEL CELL TECHNOLOGIES
Ronn Ford CHAIRMAN/CEO Automotive Mission
In his 50+ years in the automotive industry, Ronn Ford has seen many changes and advancements in the automotive sector; and for the last 10 years, as the pioneer and proponent of Hydrogen as the fuel of the future – clearly demonstrated with his proof-of-concept Hydrogen Supercar, "Scorpion" -- he is focused on Leading-Edge, Systems-Integrated, All-Electric, Hydrogen-Fuel-Cell, Zero-Emission, New Energy Vehicles ("NEVs"), including Stationary Hydrogen Fuel-Cell, Electric Power Generation.
As a pioneer in hydrogen technology, RONN Motor Group, Inc. is a leader in reducing the carbon footprint and greenhouse gas effects by creating sustainable energy that will take us into tomorrow through the development of all-electric, hydrogen fuel-cell. zero-emission, long-range automotive and transportation platform designs commonly called NEV's Go to www.ronnmotorgroup.com for more information.
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SOURCE RONN Motor Group, Inc.
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