XCMG Consolidates Sustainable Development with New Energy-Centric Strategies During World Environment Day 2022

XUZHOU,China,June 3,2022 -- XCMG (SHE:000425) has obtained the first "green license" in China's construction crane sector in May for its XCT25PHEV hybrid crane,which is the first "true hybrid" model in the world. It was developed over the course of five years and underwent another two years of testing and optimization,and the model has also taken a major step towards scale production.

XCMG Consolidates Sustainable Development with New Energy-Centric Strategies During World Environment Day 2022.

Adhering to China's "dual carbon" goals,the construction machinery industry is at the turning point for making the new energy transition and transformation,especially in the crane sector that produces heavy load,super power and mobile cranes. XCMG,a leader of the global crane market,has realized 100 percent domestic R&D and production of cranes under 300 tons,and the group also has strong industrial base,that one out of every three cranes in the world is manufactured by XCMG.

The XCT25PHEV made its debut in 2020 at bauma China as the only truck crane with hybrid technology and can operate with pure electric power,switching freely among the four modes of hybrid,electric,fuel and plugged in. It's also the first crane to obtain green license.

On May 29,XCMG has sent off nearly 100 units of new energy trucks to South America,the model is the world's first pure electric rigid dump truck,equipped with high energy density lithium iron phosphate battery that provides the power to reach 525/700kWh,achieving fast charging and discharging,long cruising range and high level of safety and reliability. It's designed to efficiently solve the pain points of South American mines including high carbon emission,short cruising range and low safety factor.

To further advance its sustainable strategy for green,low carbon and intelligent new infrastructure,XCMG has recently signed a framework agreement for strategic cooperation with Shudao Investment Group,joining hands to carry out comprehensive and in-depth cooperation in the fields of new energy construction machinery development,unmanned construction site management,intelligent mines and highway construction and maintenance.

XCMG and Shudao will explore and accelerate green and intelligent manufacturing,focus on industrial transformation and upgrade as well as cultivating talents to push forward new digital infrastructure development.

Lu Chuan,President of XCMG,noted that in 2021,XCMG carried out 20 electrification projects and designed electric excavators,loaders,forklifts,aerial work platforms and plug-in products.

"XCMG is vigorously laying out the development for electronic control,battery and electric drive technologies,with sizable total investment especially going into the R&D." said Lu. "We're focusing on energy-saving design for electric drive system,high-efficiency status evaluation for battery pack and more,and has independently developed 17 serialized electric drive core components in three categories,and all of them have been industrialized. The goal is to have 25 percent of the revenue from new energy products by 2027 and 35 percent in 2030."