Wisdom (Fujian) Motor Company Limited 威驰腾（福建）汽车有限公司 (“Wisdom”), a company that designs and manufactures zero-emission commercial vehicles, with address at zhangzhou Development Zone, completing its Series A round today. The investment was led by funds managed by Templewater Group (“Templewater”) and includes investment from Ballard Power Systems (“Ballard”). Templewater is an alternative asset management firm and parent company of Bravo, one of the largest bus operators in Hong Kong. Post Series A, Templewater will be the majority shareholder of Wisdom.
The proceeds from the Series A round will support both organizational growth and continued investments into Wisdom’s R&D and manufacturing, including which based on hydrogen fuel commercial vehicle R&D of Ballard’s world leading PEM technology. The investment will also fund further international expansion, enabling Wisdom to satisfy the market demand for zero-emission of commercial vehicles and obtaining the growing number of customer contracts in the developed markets.
Wisdom Double Decker Bus - The First Electric Double Decker Bus in Hong Kong Launching Ceremony on April 29th
Wisdom Founder and General Manager, SU Liqian, said “Wisdom is an innovation enterprise dedicated to opening a new era of global green transportation. New partnership with Bravo and Ballard, Wisdom will lead the innovations of zero-emission smart commercial vehicles with world-leading new energy technology, better serve our international customers and pursue our mission of making global public transportation and logistics better, strengthen our market position.”
Wisdom Electric Low Entry Logistics Van Unveiled at Japan Truck Show 2022 on May 13th
Templewater Founding Partner and CEO, Cliff Zhang, said “We are proud to partner with Wisdom Motor on their mission to be a global leader in manufacturing zero-emission commercial vehicles. There is significant momentum around the world’s carbon neutrality goals, supported by the global government’s vision and policies, as well as growing consumer demand for green travel. The investment aligns with Templewater’s focus and commitment towards a zero-emission future. The Templewater team is excited about joining the Wisdom team to jointly start new journey. ”
HK Leaders Attended Wisdom Electric Bus Launching Ceremony
Ballard President and CEO, Randy MacEwen, said “We are excited to work with Wisdom to develop customized fuel cell vehicles for emerging growth markets. Our companies have a shared vision to make a difference for our customers by providing leading edge zero -emission fuel cell solutions to decarbonize our planet. We continue to see growing government support globally and are encouraged by the Hong Kong government’s initiative to be net carbon neutral by 2050.”
Wisdom and Ballard will cooperate more in the field of commercial vehicles in the future
About Wisdom (Fujian) Motor Company Limited
Founded in 2019 in China, Wisdom (Fujian) Motor Company Limited (“Wisdom”) is an innovation company that designs and manufactures zero-emission commercial vehicles. With a vision of becoming a global role model for zero-emission smart commercial vehicles, Wisdom focuses on exporting high-end products across the world, having sold and delivered eight types of products more than 230 units of vehicles to 13 regions in three years since inception. To learn more about Wisdom, please visit www.wisdommotor.com
About Templewater Limited
The Templewater Group (“Templewater”) is an alternative asset management firm headquartered in Hong Kong, founded by Cliff Zhang and the Investec Group in 2018 as a spin-off of Investec Group’s Principal Investments Division in Asia, continuing the heritage and investment track record of the Investec Group. Templewater is a solution-based and trusted partner to institutions, entrepreneurs and family offices, investing in proprietary deals alongside them. Templewater invest across the alternative asset classes in private equity, growth equity and real estate. To learn more about Templewater, please visit www.templewater.com
About Ballard Power Systems Inc.
Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.
About Bravo Transport Services Limited
Bravo Transport Services Limited operates its two brands of franchised and non-franchised bus services, namely New World First Bus Services ("New World First Bus") and Citybus Limited ("Citybus"), with a daily service of more than 1 million passengers. Bravo is owned by Templewater Capital Consortium. To learn more about Bravo, please visit www.bravobus.com.hk
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