Quantum Solutions aims to expand distribution in Southeast Asia after strong interest at Thailand electric vehicle conference

HONG KONG,Sept. 2,2022 -- Quantum Solutions (Quantum),a company listed on the Standard Section of the Tokyo Stock Exchange that produces and sells electric vehicles (EV) said that it aims to expand its distribution and sales channels in Southeast Asia for its FOMM ONE EV car after it attracted strong interest at Future Mobility Asia 2022 held in Thailand. The FOMM ONE is an important step in Quantum's transition to providing affordable and reliable mobility solutions.

As the transition to a carbon neutral society in Southeast Asia accelerates,demand for EVs in the region is on the rise. In order to meet this growing demand,Quantum aims to establish new partnerships and expand sales in Malaysia,Singapore,and Indonesia,following the resumption of "FOMM ONE" production in Thailand.

Simon Zhang,Quantum's chief executive who manages the company's overseas platform,said,"Our exhibition was packed with visitors and we were impressed with the high level of interest in FOMM ONE. We look forward to working with other companies and partners to sell the FOMM ONE to more customers in Asia."

Zhang made his comments after Quantum displayed two FOMM ONE cars at Future Mobility Asia 2022,a motor show about the global transition to new-energy vehicles that was hosted by Thailand's Ministry of Energy in Bangkok on July 20-22.

Quantum has also launched social media campaigns on Twitter,Instagram,TikTok and Facebook in Thailand to use the motor show as a springboard to generate more brand awareness.

The current production run of FOMM ONE cars,which is the world's smallest four-seater EV model and utilizes patented technology invented by Japanese auto engineers,resumed in July in Thailand.

Earlier this year,Quantum strengthened its board of directors and its senior management,because the transition away from CO2-emitting modes of transportation presents huge opportunities to sell the FOMM ONE to a broad range of consumers.

While many automakers are focusing on producing high-priced EVs,Quantum aims to meet the needs of ordinary consumers for high-performance,affordable and environmentally friendly passenger cars.,Zhang also said.

In January Quantum acquired the rights to solely produce and sell the FOMM ONE from its joint-venture partner FOMM Co.,Ltd. (FOMM) in some regions,including China. FOMM ONE utilizes patented technology invented by engineers who were involved in EV development at Japan's Araco Co.,Ltd. (currently Toyota Auto Body Co.,Ltd.) and is also approved for light vehicle registration in Japan.

In addition to working with FOMM,Quantum is also actively seeking to work with original equipment manufacturers in China to expand its global footprint.

About Quantum Solutions Limited (2338.T)

Quantum Solutions Co.,Ltd. (TSE Standard Section Code No. 2338) is headquartered in Kudankita,Chiyoda-ku,Tokyo,with a capital of 2.9 billion yen,and is a company that produces and sells EVs.

About FOMM Corporation

FOMM is an R&D and design-oriented mobility company specializing in planning and developing compact mobility using innovative designs and technologies. FOMM has been designated as the OEM for the FOMM ONE EV. The company is based in Kanagawa Prefecture and was established in 2013 by Hideo Tsurumaki,who is a veteran engineer from Suzuki Motor Corp. and Araco Co.,Ltd.