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Classified in: Environment, Transportation, Science and technology, Business
Subject: JVN

RONN Motor Group, Inc. Announces Today That It Has Signed Two JV Strategic Partnerships In The People's Republic Of China, To Develop Zero-Emission Hydrogen Fuel-Cell Vehicles And Hydrogen Infrastructure


SCOTTSDALE, Ariz., Jan. 17, 2019 /PRNewswire/ -- RONN Motor Group, Inc. announced today the signing of two JV Strategic Partnerships on November 1, 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," said Ronn Ford, CEO.

Kevin Hong, founder and Chairman of Arbor Lake Capital, the advisory group for RMG, stated, "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."

About RONN Motor Group, Inc.

As a leader in hydrogen technology, RONN Motor Group, Inc. is joining the race to reduce 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. Go to www.ronnmotorgroup.com for more information.

China's automotive market is now the largest in the world, with government mandates to remove fossil fuel vehicles beginning in 2019.  Additionally, Chinese leaders have recently announced that hydrogen will serve as the new energy to power New Energy Vehicles (NEVs) for the future as China transitions from battery technology to NEVs.

Forward-Looking Statements The Press Release or any Offering Materials May Contain Forward-Looking Statements and Information Relating To, Among Other Things, The Company, Its Business Plan and Strategy, And Its Industry. These Forward-Looking Statements Are Based On The Beliefs Of, Assumptions Made By, And Information Currently Available To The Company's Management. When Used In The Offering Materials, The Words "Estimate," "Project," "Believe," "Anticipate," "Intend," "Expect" And Similar Expressions Are Intended To Identify Forward-Looking Statements, Which Constitute Forward Looking Statements. These Statements Reflect Management's Current Views With Respect To Future Events And Are Subject To Risks And Uncertainties That Could Cause The Company's Actual Results To Differ Materially From Those Contained In The Forward-Looking Statements. Investors Are Cautioned Not To Place Undue Reliance On These Forward-Looking Statements, Which Speak Only As Of The Date On Which They Are Made. The Company Does Not Undertake Any Obligation to Revise or Update These Forward-Looking Statements to Reflect Events or Circumstances After Such Date Or To Reflect The Occurrence Of Unanticipated Events.

 

SOURCE Ronn Motor Group, Inc.


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News published on 17 january 2019 at 19:00 and distributed by: