Thornton New Energy won an overseas order for 1,000 sets of commercial vehicle batteries

SEAElectric, a global automotive technology company, was established in Australia in 2012, and uses its proprietary power system technology (called 'SEA-Driveu0026reg;') to serve transportation and distribution fleets in cities around the world. As a global commercial vehicle electrification market, SEAElectric's business scope covers the world, and currently has factories in Melbourne, Australia, New Zealand, and California in the United States. Products are deployed in seven countries including the United States, Canada, Australia, New Zealand, Thailand, Indonesia and South Africa. The company is currently opening an office in Vienna and hopes to obtain a European full compliance permit before the second half of this year. The company engages in global sales, after-sales and engineering through its subsidiaries, and North America has the highest assembly capacity, which can exceed 30,000 units per year. Thornton New Energy SEAElectric’s proprietary SEA-Driveu0026reg; electrification technology can be applied to various OEM trucks and light commercial vehicles, which can effectively realize the electrification of most light, medium and heavy commercial vehicle segments, and is equipped with unique Mid-mounted and medium-voltage batteries to improve safety and vehicle dynamics. SEAElectric, an automotive technology company with a global leadership position and the secret to the field of commercial vehicle electrification-proprietary SEA-Driveu0026reg; technology, expanded by purchasing 1,000 sets of electric vehicle batteries from long-term technology partner Thornton New Energy Technology Co., Ltd. Its global influence. This latest transaction follows SEAElectric’s recently announced US$42 million equity financing news. SEAElectric completed the transaction after obtaining US$42 million in equity financing, and most of the battery purchases are planned to be used in the United States. Since 2012, Thornton New Energy has been the only battery supplier of SEAElectric. The two companies have developed 7 SEA-Driveu0026reg; battery solutions in the joint process of the electric commercial vehicle field. Through this new cooperation, SEAElectric is fully aware of the cost-effectiveness and production efficiency of Thornton's expertise in new energy batteries and electric electronics. Therefore, they are stepping up production of batteries, and are expected to complete delivery in the second quarter of 2021. The transaction can also help SEAElectric achieve a significant reduction of 36% in kilowatt-hour (kWh) unit costs. According to the introduction by the president and founder of SEAElectric, Thornton New Energy is not only innovative and battery technology, but also highly praised for its product quality, on-time delivery and competitive prices. 'Our long-term cooperation with Thornton New Energy is a very successful business journey, and we look forward to continuing to share our global success in this process.' Most of the first 1,000 battery packs will be used in the US market, and the remaining The batteries will be used in SEAElectric’s inventory in Australia, New Zealand and Southeast Asia, as well as the European market where the company entered for the first time. Hu Zelin, President of Thornton New Energy, commented: 'This is an important milestone in the cooperation with SEAElectric. This 1,000-set battery order can not only promote SEAElectric's huge growth worldwide, but also position Thornton New Energy as a commercial electric vehicle. Export market. This is a win-win proposition for all parties.' With the substantial growth of the new market, SEAElectric recently announced the completion of its first private equity financing, with a total financing size of nearly 42 million US dollars. The net proceeds of this investment will enable SEAElectric to consolidate its position as a leader in the commercial vehicle electrification market, while at the same time providing funding for its large order reserve and facilitating more pilot projects with operators.