The Zhitong Finance App learned that Elephant Future Group (02309) rose by more than 7%. As of press release, it had risen 7.22% to HK$4.01, with a turnover of HK$2,554,300.
According to the news, Elephant Future Group announced that in order to deepen strategic cooperation, its new energy commercial vehicle brand ZO Motors (ZO Motors) has signed a joint development agreement with Weichai New Energy. Weichai New Energy will develop right-hand drive electric trucks and accessories according to the specifications and requirements stipulated in the agreement. The proprietary design for right-hand driving products is jointly owned by ZO Motors and Weichai New Energy. The target markets of the product are Japan, Malaysia, Indonesia and Thailand.
On January 16, Elephant Auto, a wholly-owned subsidiary of Elephant Future Group, signed a strategic agreement with Weichai New Energy to announce comprehensive and in-depth cooperation in the fields of new energy vehicle manufacturing, joint product development, and global sales. According to the strategic agreement between the two parties, Elephant Auto will use Weichai's new energy product platform and production base to develop and manufacture ZO Motors brand intelligent new energy commercial vehicles.