Huaping Wang, the chief engineer of the SORL, commented: " China's automobile strategy is to develop new energy, electric vehicles. We are continuously making technological innovations and breakthroughs to meet or exceed the new demands of our clients. Through innovation we are maintaining our leadership position in the traditional brake and control systems as we provide new solutions targeting new energy vehicles to sustain our Company's growth."
The State Council issued the "energy-saving and new energy automotive industry development plan (2012-2020)" directive identifying that pure electric drive is the main strategic orientation of new energy vehicles. SORL's mission is to help industrialize pure electric and plug-in hybrid vehicles, promote and popularize non-plug-in hybrid vehicles, and enhance energy-saving combustion engine vehicles, to increase the overall technological level of China's automotive industry.
According to the plan, by 2015, the cumulative production and sales of pure electric and plug-in hybrid vehicles will reach 500,000 units. By 2020, the production capacity of pure electric and plug-in hybrid vehicles will reach 2 million units, while cumulative production and sales are expected to exceed 5 million units. Development of battery-powered and hydrogen-powered technologies will increase with the growing acceptance of new-energy vehicles globally.
About SORL Auto Parts, Inc.
As a global tier one supplier of brake and control systems to the commercial vehicle industry, SORL Auto Parts, Inc. is the market leader for commercial vehicles brake systems, such as trucks and buses in China. The Company distributes products both within China and internationally under the SORL trademark. SORL is listed among the top 100 auto component suppliers in China, with a product range that includes 65 categories with over 2000 specifications in brake systems and others. The Company has four authorized international sales centers in UAE, India, the United States and Europe. SORL is working to establish a broader global sales network. For more information, please visit http://www.sorl.cn.Safe Harbor Statement This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as "will", "believes", "expects" or similar expressions. These forward-looking statements may also include statements about the Company's proposed discussions related to its business or growth strategy, which are subject to change. Such information is based upon expectations of the Company's management that were reasonable when made, but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond the Company's control and upon assumptions with respect to future business decisions, which are subject to change. The Company does not undertake to update the forward-looking statements contained in this press release. For additional information regarding known material factors that could cause the Company's results to differ from its projected results, please see its filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov. Contact Information Raymond Lin86+13967776556 86+577+65817721Email: firstname.lastname@example.org Phyllis Huang86+1516770597286+577+65817721Email: Phyllis@sorl.com.cn Kevin TheissGrayling+1 646 284 9409Email: email@example.com SOURCE SORL Auto Parts, Inc.
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