Flymove Holding Limited is pleased to announce the signing of a letter of intent with Zhejiang HOZON New Energy Automobile Co. Ltd, an electric vehicle manufacturer based in Shanghai, China (www.hozonauto.com). The preliminary agreement the two companies have reached contributes to the launch of a feasibility study for a large-scale industrial production of Flymove’s Dianchè BSS City Car Cube designed by Flymove Bertone, which according to the expectations is going to be implemented by the end of 2020, initiating with approximately 26,000 vehicles. The marketing of the Dianchè BSS City Car Cube, the first city car in the world using the rapid battery swap system “BSS” developed by Flymove and its technological partners, will be dedicated mainly to the Chinese market, while a minor production part will be intended for the European market opening. HOZON launched a new production unit in 2016 investing approximately 1.6 Billion USD, recently closed a Series B round for 446 million USD, inaugurating a new R&D centre in Shanghai and a Design centre in Beijing. HOZON’s very aggressive strategy in the EV sector and the international expansion plan that distinguishes it, make HOZON an ideal partner for Flymove, above all to realize its business plan in short and medium term.