Alset's New Energy Accelerates Electrification of Hong Kong Taxis through Partnership with Chery's Kaiyi and Support from Government Loan Program

Core Insights - Alset Inc. is making significant progress in the electric vehicle market through its subsidiary New Energy Asia Pacific Company Limited, which holds a 41.5% ownership interest [1][4] - New Energy has established a strategic collaboration with Kaiyi International Trade Co. Ltd, enhancing its position in the EV sector [2][4] - The company is focused on sustainable mobility initiatives in Hong Kong, including the "HaoDi" project aimed at introducing 5,000 electric taxis and the "We Care" initiative to support mobility for people with disabilities and the elderly [3][4] Company Developments - New Energy has begun selling electric taxis and private passenger vehicles in Hong Kong, with plans to increase production to meet demand [3] - The "HaoDi" initiative targets the electrification of Hong Kong's taxi fleet, which currently has only 139 out of approximately 18,100 taxis registered as electric [3] - The "We Care" initiative aims to provide transportation solutions to over 1,800 social welfare organizations, promoting inclusivity in urban mobility [3] Market Context - The Hong Kong Mortgage Corporation Limited has introduced a loan scheme to support taxi owners in purchasing all-electric taxis, which is expected to drive growth in the EV market [3] - New Energy's comprehensive electric mobility ecosystem includes energy storage systems, charging infrastructure, and a range of electric vehicles, catering to diverse market needs [4]