Shanghai, China, April 20^th, 2021 - The first Innovation Day of SVOLT with the theme of "Innovation Drives the Future" is officially launched during the 2021 Shanghai Auto Show today, which marks the brand strategy upgrade of SVOLT entering stage 2.0. During the launch event, SVOLT announces that it will found the SVOLT CAPITAL with a fund of 2 billion Yuan invested to support the industry innovation. And it plans to recruit 20 cross-industry partners and 100 pioneer scientists globally, so as to create the innovation ecosystem with cross-border integration of the power battery industry and improve the independent innovation, in-depth research and development strength of local enterprises.

Mr. Yang Hongxin, Chairman and CEO of SVOLT, announces the strategy 2.0 of brand upgrade. The strategic layout of the enterprise will be more systematic, the implantation applies to passenger vehicles, commercial vehicles, light vehicles, as well as energy storage. The product categories will continuously increase and the market will keep expanding and become more systematic. From raw materials to product application and resource recovery, the industrial chain layout will be more thorough. The new bases both domestically and overseas will be started one by one. The global production capacity will exceed 200GWh by 2025. At the same time, SVOLT promotes sustainable energy and resource utilization rate. It is expected that the renewable energy materials utilization rate of SVOLT's global plant will reach 40% in 2025 and reach the carbon neutral target in 2030. SVOLT will establish a green and sustainable supply chain, use renewable materials, and accelerate the fulfillment of its "carbon" responsibility.

In order to enhance the whole industrial chain innovation ecosystem, SVOLT will establish SVOLT CAPITAL, as well as sign the strategic cooperation agreement with SDIC and invest 2 billion Yuan to establish the development and innovation funds during Stage 1 to recruit innovative industry partners and provide strong financial support for the creation of the innovation ecosystem of SVOLT.

Moreover, to better promote the implementation of industry innovation, SVOLT CAPITAL will start the Recruitment Program of Innovative Industrial Partners and form the strategic cooperation with SYNCED, a domestic leading frontier science and technology media and industry service platform. It plans to recruit 20 cross-sector partners in the field of intelligence technology, in the hope of applying the advanced tech in the production of the power battery industry, realizing the cross-border integration of the lithium battery industry with AI, Big Data and upstream and downstream industry chains, accelerating the global layout of SVOLT in the field of intelligence technology.

In terms of talent innovation, SVOLT announces that it will cooperate with LinkedIn, a well-renowned social media platform of workplace, to launch the Recruitment Program of SVOLT Pioneer Scientists, and recruit 100 scientists worldwide. They will be engaged in the research and development of power batteries and recruit new forces and reserve talents for the independent R&D and innovation of the industry.

SVOLT has been a super dark horse standing out in the field of power batteries in China in the past two years. It is an energy technology company with new mindset. Its predecessor is the Battery Business Unit of Great Wall Motors, a famous Chinese automobile company, thus it masters a better understanding of the performance demands of cars than most other battery enterprises. Within a short time since its founding, it has launched a series of subversive innovation achievements such as high-speed stacking process, cobalt-free cathode materials and automotive standards AI intelligent factory. Each release refreshes the benchmark of the industry. It has great potential to become the leader of new generation in battery industry of China and even of the world.