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(9 May 2022, Hong Kong) Wisdom (Fujian) Motor Company Limited 威驰腾（福建）汽车有限公司 (“Wisdom”), a technology company that designs and develops zero-emission commercial vehicles, today announced it has completed its Series A round. The investment was led by Templewater Group (“Templewater”) and Ballard Power Systems (“Ballard”). Post Series A, Templewater will be the majority shareholder of Wisdom.
The proceeds from the Series A round will support both organizational growth and continued investments into Wisdom’s R&D and manufacturing platform, including the expansion and development of its hydrogen zero-emission vehicle offering, supported by Ballard’s leading PEM fuel cell technology. The investment will also fund further international expansion, enabling the company to keep on building demand for sustainable transport and delivering on its growing number of customer contracts in the developed markets.
Wisdom Founder and CEO, Su Liqian, said “Wisdom is an innovation enterprise dedicated to opening a new era of global green transportation. The new partnership with Templewater and Ballard strengthens our market position. With world-leading new energy technology, Wisdom will lead the innovations of zero-emission smart commercial vehicles, better serve our international customers and pursue our mission of making global public transportation and logistics better.”
Templewater Founding Partner and CEO, Cliff Zhang, said “We are proud to partner with Wisdom on their mission to be a global leader in zero-emission commercial vehicles. There is significant momentum around the world’s carbon neutrality goals, supported by vision and policies of governments around the globe as well as growing consumer demand for greener solutions. The investment is aligned with Templewater’s focus and commitment towards a zero-emission future. The Templewater team is excited to join Wisdom team on the next stage of its journey.”
Ballard President and CEO, Randy MacEwen, said “We are excited to work with Wisdom to develop customized fuel cell vehicles for emerging growth markets. Our companies have a shared vision to make a difference for our customers by providing leading edge zero-emission fuel cell solutions to decarbonize our planet. We continue to see growing government support globally and are encouraged by the Hong Kong Government’s initiative to be net carbon neutral by 2050.”
FOR FURTHER INFORMATION, PLEASE CONTACT:
Wisdom Motor
Li Zhengcai
Investor Relations
T: +86 136 9500 9477
Templewater
Jason Li
Investor Relations
T: +852 3187 5000
Ballard Power Systems
Kate Charlton
VP Investor Relations
T: +1 604 453 3939
About Wisdom (Fujian) Motor Company Limited - 威驰腾（福建）汽车有限公司
Founded in 2019 in China, Wisdom (Fujian) Motor Company Limited (“Wisdom”) is a technology company that designs and manufactures zero-emission commercial vehicles. With a vision of becoming a global role model for zero-emission smart commercial vehicles, Wisdom focuses on exporting high-end products across the world, having sold and delivered eight types of products more than 230 vehicles to 13 regions in the three years since inception.
Wisdom has developed three series of zero-emission vehicle products: V-series, C-series and T-series, which cover city buses, luxury touring coaches, logistics vehicles, heavy-duty trucks and other commercial vehicles in various fields, all featuring Wisdom’s unique design and technology applications such as lightweight unibody structure, high-strength composite materials, new energy vehicle control system and so on. Wisdom’s products have successfully been homologated in a number of developed countries and regions such as the United Kingdom, Australia, Israel, Japan, Singapore and Hong Kong. Wisdom designed and delivered Hong Kong’s first electric double-decker bus, and Japan’s first low-floor electric logistic van.
To learn more about Wisdom, please visit www.wisdommotor.com
About Templewater Group
Templewater Group (“Templewater”) is an alternative asset management firm headquartered in Hong Kong, founded by Cliff Zhang and the Investec Group in 2018 as a spin-off of Investec Group’s Principal Investments Division in Asia, continuing the heritage and investment track record of the Investec Group.
Templewater is a solution-based and trusted partner to institutions, entrepreneurs and family offices. Templewater invests across the alternative asset classes in private equity, growth equity and real estate.
To learn more about Templewater, please visit www.templewater.com
About Ballard Power Systems Inc.
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power.
To learn more about Ballard, please visit www.ballard.com
