CORRECTING and REPLACING Together, Grove and hofer powertrain will develop an electrified powertrain solution for hydrogen-powered Automobiles that can compete at a global scale

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    • Grove Hydrogen Automotive and hofer powertrain have agreed to work
      together in the form of a Joint Venture to manufacture electrified
      powertrains solutions for the use in Grove Cars.
    • hofer powertrain will ensure the production of a high-quality product
      by bringing in its decades of system engineering experience for German
      automotive OEMs.
    • Grove sees the expertise of hofer powertrain in the field of future
      mobility as a key success factor so that Groves advanced Hydrogen Fuel
      Cell Powertrain can enable a new cutting edge direction towards clean
      mobility.

    SHANGHAI–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/AutoShanghai2019?src=hash” target=”_blank”gt;#AutoShanghai2019lt;/agt;–Please replace the release issued April 23, 2019, at 11:24 pm PT/April
    24, 2019, at 2:24 am ET with the following corrected version due to
    multiple revisions.

    The corrected release reads:

    TOGETHER, GROVE AND HOFER POWERTRAIN WILL DEVELOP AN ELECTRIFIED
    POWERTRAIN SOLUTION FOR HYDROGEN-POWERED AUTOMOBILES THAT CAN COMPETE AT
    A GLOBAL SCALE

    • Grove Hydrogen Automotive and hofer powertrain have agreed to work
      together in the form of a Joint Venture to manufacture electrified
      powertrains solutions for the use in Grove Cars.
    • hofer powertrain will ensure the production of a high-quality product
      by bringing in its decades of system engineering experience for German
      automotive OEMs.
    • Grove sees the expertise of hofer powertrain in the field of future
      mobility as a key success factor so that Groves advanced Hydrogen Fuel
      Cell Powertrain can enable a new cutting edge direction towards clean
      mobility.

    Wuhan Grove Hydrogen Automobile Co., Ltd. signed a cooperation
    framework agreement with hofer powertrain the independent system
    supplier of efficient powertrain solutions. The two parties will work
    together to jointly seize the opportunities of Chinas zero-emission
    hydrogen fuel cell market with Grove cars.

    The before mentioned common goal will involve the two sides to
    jointly develop, produce and assemble electrified powertrain solutions
    for the hydrogen fuel cell passenger cars of Grove. The targeted Joint
    Venture will be in cooperation with the local governments in either
    Wuhan, Beijing, Shanghai, Shenzhen or Chongqing.

    “In signing this agreement today we establish the framework to work
    together towards our Joint Venture operations to realise Grove
    vehicles”, said Hao Yiguo, Chairman of Grove Hydrogen Automotive Co.,
    Ltd.

    Grove is a hydrogen energy passenger car company based on the
    integration of innovative and strategic resources in the international
    automotive industry. Grove is committed to creating hydrogen energy
    passenger cars with a high level of sustainability in running and
    production and bringing customers a new driving experience.

    hofer powertrain is the system supplier of efficient powertrain
    solutions in the fields of electrification, hybridization, and internal
    combustion power. As an established and independent partner of the
    mobility industry, hofer powertrain has been providing pioneering
    technologies and products to companies worldwide for over 35 years.
    Accomplished by our experienced teams of experts specialized in the
    development, industrialization, and production of powertrain systems.

    Hand-in-Hand with hofer powertrain, Grove gains can significantly
    accelerate its development of hydrogen-powered vehicles. This advantage
    is made possible by hofer powertrains more than 35 years of experience
    in the development of complete powertrain systems including new energy
    solutions. Highly integrated electrification solutions including
    transmission, electronics, software, e-motor, and system integration are
    part of the hofer powertrain expertise that will make Grove vehicles
    even more efficient by optimizing the weight and performance. This
    optimization is due to hofer powertrains complete engineering
    capabilities.

    “We will ensure that the powertrain-technology of Grove vehicles will be
    at the forefront of today and tomorrow,” said Johann Hofer, CEO of hofer
    powertrain.

    Planting sycamore trees attract Phoenix. With its strong development,
    Grove has become a hot spot in the field of new energy automobiles and
    has stirred strong interest at home and abroad. The Addition of hofer
    powertrain to the Grove story significantly adds to Grove’s future
    success.

    Grove is a brand of the Grove Hydrogen Automotive Company Limited,
    registered in Wuhan, China.
    Born in 2016 and Registered in 2018
    under parent company Institute of Geosciences and Environment (IGE).
    Operating
    Design and Development in Wuhan and Barcelona Spain, with Production
    Facilities in Wuhan
    and several other locations to be announced
    during 2019 Grove is a Global car company aiming to offer a truly clean
    Automotive experience from Manufacturing to enjoyment of the car.

    Contacts

    Tracy Chen
    Manager Corporate Communications
    [email protected]
    www.grove-auto.com