RONN Motor Group signs two JV partnerships in China to develop hydrogen fuel-cell vehicles and hydrogen infrastructure
RONN Motor Group, Inc. (RMG) signed two JV Strategic Partnerships in November 2018 leading to a definitive 3-way Joint Venture to co-develop its all-electric, zero-emission, hydrogen fuel-cell/battery automobiles and trucks and buses.
While all specifics won’t be released until all agreements are completed before January 31, 2019, RONN will retain 51% of the new energy vehicle Joint Venture relationship at $5.00 (USD) per share.—Ronn Ford, CEO
With the driving factors of NEV national policies and industries, the fuel cell commercial vehicles in China is expected to enter the regional maturity stage in 2020-2025 and will reach an outbreak growth in 2025-2030. In terms of fuel-cell passenger cars, it is expected that the market would enter the mass production stage in 2020-2025.—Kevin Hong, founder and Chairman of Arbor Lake Capital, the advisory group for RMG