XING MOBILITY - FOUNDER LETTER

Amidst the impacts of COVID-19, we, like everyone else, are making steps to take stock of and adjust to the new paradigms that the world is waking up to. Fortunately, in our headquartered location of Taiwan, relatively fast-moving and well-prepared government action has resulted in the majority of the country remaining open for business, and as well as continuing to commence with a number of battery pack shipments, we are happy to share the the following updates and advancements have persevered despite uncertain times.

XING Mobility has joined forces with Toyota Tsusho to cooperate on providing electric vehicle battery and advanced powertrain solutions to the construction, agriculture and mining equipment markets in Japan, South East Asia and the United States. Aligning with Toyota Tsusho's main mission of supporting Toyota Motor's automobile business, we are looking forward to collaborating to bring new technology gains and advanced integration services to the commercial and industrial EV sector.

Meanwhile, XING Mobility continues to listen closely to the heartbeat of the EU market. Despite the postponement of COP26 as a result of the global pandemic, zero-emission target regulations remain a key priority for business owners and stakeholders all over the world. For instance, European equipment manufacturers have until June 30 this year to comply with emission limits for all engines in the power range of <56kW and ≥130kW. Subsequently, they will have until December 31 2020 to place these machines on the EU market. With this in mind, XING Mobility is investing in electric mobility solutions that enable customers to meet these targets, as we further explain here in our spotlight article.

Elsewhere in the world, including the U.S. and Asia, we are seeing increasing interest in electric power motivated by other factors such as rising customer demand and the desire to increase access and usability. Despite these drivers, delays in adoption remain, partially stemming from capital investment and risk perceptions associated with brand new technologies. Recognizing that manufacturers and fleet owners in specialty markets are still significantly undeserved when it comes to easily adaptable and affordable technology, we are striving to offer customers the option of gradual investment and adoption by employing highly modularized technology and phased approaches to electrification. Learn more about spreading out the investment in EV technology in our Opinion Piece here, and check out our modularized battery systems in action in this newly released battery Explainer Video.

Finally, in these difficult times, the team here at XING Mobility are on hand to help and advise our customer community wherever possible, and to ensure your efforts to sustain, adapt and advance electrification programs during the crisis are not in any way hampered. Please get in touch if we can be of assistance in the coming months.