STARK becomes Chery Wanda's exclusive partner in the Brazilian market

（ 2023-8-20 ）

　　Recently, after in-depth research and evaluation between STARK and Chery Wanda, the two sides reached a consensus on cooperation in the development of the Brazilian new energy commercial vehicle market and signed a cooperation agreement, and STARK became the exclusive partner of Chery Wanda in the Brazilian market.

　　In July 2023, Dr. Wang Can, Chairman of STARK, and Mr. Wu Yong, General manager of Chery Wanda Bus, conducted a 10-day in-depth research on the Brazilian new energy commercial vehicle market, during which they visited the new energy bus market in several Brazilian states and visited several STARK customers and partners in Brazil. The two sides agreed that the market for new energy buses in Brazil has great potential and commercial value.

　　After completing the market research in Brazil, the two parties conducted a comprehensive discussion and negotiation on the cooperative market cooperation matters, and finally reached a consensus on the cooperation matters and signed the Cooperation Agreement. Chery Wanda authorized STARK to be its exclusive partner in the domestic market in Brazil, including but not limited to:

　　1. Authorize STARK to exclusively sell Chery Wanda's products in Brazil, including but not limited to new energy buses, highway buses, sanitation vehicles and engineering vehicles produced and provided by Chery Wanda;

　　2. As the exclusive partner of Chery Wanda in Brazil, STARK is authorized to carry out the publicity and promotion of Chery Wanda's brands and products in Brazil;

　　3. As the exclusive partner of Chery Wanda in Brazil, STARK is authorized to carry out localized after-sales service business in Brazil, including but not limited to technical training, maintenance, repair and overhaul, spare parts supply, etc.

　　At present, STARK's intention to order new energy buses in the Brazilian market has more than 3,000 units, and the first delivery order is 240 units of 12.4m new energy buses, with a total order value of more than 100 million US dollars. The vehicle is a customized model for Brazilian customers, and it is expected to deliver the order sample in the first quarter of 2024, complete the certification of the vehicle in Brazil in the second quarter of 2024, and officially start the mass delivery of the order vehicle in the third quarter of 2024.