Companies Doing Business on 5 Continents and in 30 Countries Sign Agreements to Distribute NeuWai Vehicles

SEOUL,South Korea,April 9,2019 --Songuo Motors confirmed the signing today of contracts to distribute NeuWai vehicles by companies spread across 5 continents and doing business in 30 countries. The first NeuWai vehicles will be introduced for sale within 12 months. The range of NeuWai vehicles announced already and planned for production in 2020 include 2-seat and 4-seat ultra-compact cars,an SUV,a modular vehicle,a 1-ton truck,motorcycles and scooters.

Companies spread across 5 continents and doing business in 30 countries sign distribution contracts with NeuWai,representing more than $400M in sales commitments.

This announcement comes just one day after the global debut at the 2019 Seoul Motor Show of the NeuWai brand and its intended lineup of stylish,electric,fun-to-drive vehicles.

"We are honored to have so many innovative business leaders already committed to distribute NeuWai vehicles," said Tim Shin,CEO of Songuo Motors. "Their commitment shows how ready the world is to accept new and unique vehicles with compelling designs,advanced engineering and manufacturing model."

The contracts signed today are for distribution of NeuWai vehicles and a commitment of sales of more than $400M USD. Contracts were signed for the following regions:

North America:USA,Canada and Mexico

Middle/Central America:Argentina,Bolivia,Brazil,Chile,Columbia,Ecuador,Peru,Uruguay

European Union:Italy,Bulgaria,Morocco,Portugal,Spain,U.K.,Serbia,Montenegro,Kosovo,Switzerland,Germany

Middle East:Oman,Qatar,UAE,Egypt,Syria,Iraq,Lebanon

Africa:Angola,B/Fso,Cameroon,Ethiopia,Ghana,Ivory Coast,Nigeria,South Africa,Senegal

Commonwealth of Independent States:Uzbekistan,Kazakhstan

Asia: Cambodia,India,Pakistan

The NeuWai Manufacturing Model

NeuWai set out to build fun,electric cars,SUVs,trucks,motorcycles and scooters that make people happy,by giving them more than they expect at a cost that is less than they expect. To do so,NeuWai created a unique manufacturing strategy that makes it much more affordable for companies in countries around the world to build assembly plants. Rather than an investment of hundreds of million USD – which is typical for traditional car assembly plants – the equipment for each NeuWai Semi-Knock Down Kit assembly plant is expected to cost $3-$10 million USD,depending on desired total vehicle annual capacity,with a total estimated facility cost of $15-$30 million USD.

Primary manufacturing of NeuWai vehicle components will take place at its 430,000-square-meter (4.6-million-square-foot) facility located in the City of Dezhou,ShanDong Province,China,where the first of three stages of construction is almost complete. The unassembled vehicles will be sent to assembly plants around the world for final assembly and distribution.

NeuWai Vehicle Innovation Goes Global

NeuWai took an innovative approach to designing and engineering vehicles. This included space frames,which provide a structural advantage over unnecessarily heavy frames or unibody construction. NeuWai vehicles also use proprietary composite body panels molded in color with a glossy exterior finish. This allows for consistent color without painting,solving the century-old challenge of painting body parts in an assembly plant. The recyclable material also takes door dings out of the equation,as well as minor fender benders.

NeuWai A-class and larger vehicles will be powered by AC electric motors. In addition to Euro 6 gasoline engines,NeuWai will offer both Euro 4 gasoline and liquid propane injection (LPI) combustion engines in markets where these powertrains have a compelling advantage.

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