Alset Inc. Innovates Electric Taxi Solutions in Hong Kong

Alset Inc. Advances Electric Mobility in Hong Kong
Alset Inc. (NASDAQ: AEI) is making waves in the electric mobility sector within Hong Kong, aligning its vision with sustainable living and innovative technology. With a commitment to enhancing life through smart urban solutions, AEI stands at the forefront of a pivotal shift in transportation.
Strategic Partnerships Fuelling Growth
AEI's significant 41.5% stake in New Energy Asia Pacific Company Limited is playing a crucial role in its strategies. This Hong Kong-based company is currently focused on a robust electric vehicle (EV) initiative, collaborating closely with Kaiyi International Trade Co. Ltd., a notable subsidiary of Chery Automobile Co., Ltd. Chery, renowned as China's premier passenger car exporter, offers extensive automotive solutions, including a range of electric vehicles that cater to both local and global consumers.
Expanding Electric Vehicle Offerings
New Energy has set a solid foundation by launching electric taxis and private passenger vehicles in Hong Kong. With production ramping up to accommodate confirmed orders, the company is well on its way to meeting the rising demand for electric vehicles.
Landmark Initiatives for Sustainable Transportation
In its pursuit of sustainable urban transportation, New Energy has introduced two significant initiatives. The first initiative, “HaoDi”, establishes a partnership with Vecent Motors Limited and Kaiyi to electrify Hong Kong's taxi fleet. Targeting 5,000 electric taxi deployments, this initiative aims to revolutionize urban transportation and reduce emissions.
Currently, Hong Kong has approximately 18,100 taxis, but only a small fraction, 139, are electric. This glaring disparity highlights the vast opportunity for growth within the electric taxi market as efforts are made to transition towards sustainable options.
The second initiative, “We Care”, focuses on promoting mobility access for individuals with disabilities and the elderly. Through this program, New Energy aims to provide transportation solutions to over 1,800 social welfare organizations, emphasizing inclusivity in urban mobility.
Government Support and Financial Incentives
The development of Hong Kong's electric taxi industry is further bolstered by the government-backed “Pure Electric Taxi 100% Guaranteed Loan Scheme.” This initiative assists taxi owners in acquiring electric vehicles, replacing traditional LPG and gasoline taxis. The loan scheme is vital in minimizing financial barriers, fostering growth, and encouraging sustainability in the electric vehicle sector.
Leadership and the Future of Electric Mobility
Reflecting on the rapid advancements, Chan Heng Fai, Alset’s Chairman and CEO, expresses enthusiasm for the company's momentum: “Our traction in Hong Kong reflects the strong market appetite for reliable, high-quality electric vehicles, as well as the strength of our partner network.” He believes this momentum positions Alset favorably for expanding its presence in the electric vehicle market.
New Energy’s comprehensive ecosystem includes cutting-edge energy storage systems, sophisticated charging infrastructures, and electric vehicles tailored for various market needs. With an emphasis on sustainability, the team's innovative management platforms facilitate a seamless transition to electric mobility, catering to both urban and industrial applications.
About Alset Inc.
Alset Inc. is actively pursuing a vision centered around fostering sustainable living. Focused on developing EHome communities and promoting a healthy living ecosystem, AEI aims to enhance long-term growth and deliver value to its shareholders. Through its subsidiaries, AEI continues to explore innovative solutions across different sectors, including real estate and consumer products.
Frequently Asked Questions
What is Alset Inc.'s main focus?
Alset Inc. focuses on sustainable living, smart home community development, and innovative technologies in various sectors.
What is New Energy Asia Pacific?
New Energy Asia Pacific, in which Alset holds a significant stake, is focusing on electric vehicles and sustainable mobility solutions in Hong Kong.
How many electric taxis does the “HaoDi” initiative aim to deploy?
The “HaoDi” initiative aims to roll out 5,000 electric taxis in Hong Kong.
What is the purpose of the “We Care” initiative?
The “We Care” initiative is designed to provide equal mobility access for individuals with disabilities and elderly citizens.
How does the Hong Kong government support electric taxis?
The Hong Kong government offers a loan scheme to assist taxi owners in transitioning to all-electric vehicles, reducing financial hurdles for adoption.
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