3DOM-affiliated company to develop the world’s first※1 carbon neutral commercial fleet service using new electric vehicles
3DOM Inc. (“3DOM”) signed a Memorandum of Understanding (“MOU”) in April 2022 with Jiangxi Geely New Energy Commercial Vehicle Co., Ltd. (“GCV”) for a strategic partnership to develop battery packs for new electric commercial vehicles (“ECVs”). GCV is an entity within the Geely Holding Group (“Geely”), engaged in the development, manufacturing, and sales of ECVs.
3DOM will jointly develop batteries for the E51, an ECV manufactured by GCV, and will supply approximately 600MWh of batteries (equivalent to 15,000 vehicles) by 2025 through 3DOM (Singapore) Pte. Ltd., 3DOM’s wholly-owned subsidiary responsible for the manufacture and sale of 3DOM batteries.
Geely is a leading manufacturer in China and parent company of Volvo Cars and other notable brands. Geely’s Chairman, Mr. Li Shufu, is a major shareholder of Mercedes Benz and Daimler Group and has strengthened relationships with leading European manufacturers. Geely produces vehicles that demonstrate high performance and quality while maintaining price competitiveness.
The batteries jointly developed by 3DOM will be used in the E51, the latest electric light commercial van model launched by GCV, Geely’s ECV division, in March 2022. The van is fully suited for delivery operations in Japan.
The E51 will be used for the world’s first carbon neutral commercial fleet service (details below), which 3DOM plans to roll out through an affiliated company to be newly established. Outside of the service, the model will also be sold by GCV to transportation companies and logistics providers.
About the carbon neutral commercial fleet service
The 3DOM Group will introduce the world’s first carbon neutral commercial fleet service through an affiliated company to be newly established, targeting a 2023 launch starting in Japan. The first step will be to provide a fleet service which packages the E51 with clean electricity and carbon credits to users such as supermarkets and transport companies.
Due to the impact of global warming, lifecycle emission reduction has become a critical issue. It is also expected that monetary penalties for carbon emissions will soon be introduced. The transportation and logistics industry, one of the sectors emitting the most carbon dioxide, is accelerating its move to decarbonize in response to strong demand from major e-commerce companies and manufacturers.
On the other hand, the introduction of ECVs has been hampered by several barriers, including the higher pricing of electric vehicles over conventional gasoline vehicles due to battery costs, as well as insufficient charging networks.
3DOM responds to these issues with proprietary long-life battery technology, which enables battery second use and reduced battery cost per charge/discharge. 3DOM also aims to alleviate the financial burden of shifting to ECVs by providing vehicles through subscription and/or lease services.
To address the problem of insufficient charging networks, 3DOM is pursuing alliances with companies developing charging infrastructure powered by clean electricity. In addition, carbon credits※2 will be acquired to offset carbon emissions from battery and vehicle manufacturing, allowing the fleet service to achieve carbon neutrality from production through operations.
Through these initiatives, 3DOM will realize a carbon neutral commercial fleet service which addresses the issues currently hindering the introduction of ECVs.
The 3DOM Group is committed to deploying cutting-edge clean energy solutions to truly solve critical environmental issues.
About Zhejiang Geely Holding Group Co., Ltd.
Parent company of China’s leading private automaker Geely Automobile, Volvo Cars, London Electric Vehicle, and others.
Location: Zhejiang Province, China
Representative: Li Shufu
About Jiangxi Geely New Energy Commercial Vehicle Co., Ltd.
A commercial vehicle division under the Geely Auto Group, responsible for the development, manufacturing, and sales of electric commercial vehicles.
Location: Jiangxi Province, China
Representative: Mike Fan
About 3DOM Inc.
Central company of the 3DOM Group engaged in research and development of 3DOM separators, next-generation batteries, and fuel cells.
Location: 5th Floor, C Building, 3-9 Moriyacho, Kanagawa-ku, Yokohama, Kanagawa, Japan
Representative: Masataka Matsumura
About 3DOM (Singapore) Pte. Ltd.
A wholly owned subsidiary of 3DOM that manufactures and sells 3DOM batteries. Currently planning to list on the Singapore Exchange through a reverse takeover※3.
Representative: Shusuke Oguro
About BINEX Inc.
A company engaged in the cultivation of sorghum that is fast-growing, absorbs large quantities of carbon dioxide, and fixes some of that in its roots; the production of biomethanol and biopellets using the sorghum; the development of fuel cells powered by hydrogen obtained from reformed biomethanol; and the generation of carbon credits through these activities.
Location: 1-7-1 Akasaka, Minato-ku, Tokyo, Japan
Representative: Hiromichi Aoki
※1 According to internal research.
※2 BINEX Inc., a subsidiary of 3DOM, cultivates sorghum that is fast-growing, absorbs large quantities of carbon dioxide, and fixes some of that in its roots, which will generate carbon credits.
※3 Reverse Takeover (RTO): A method by which an unlisted company can be listed through acquisition by or merger with a listed company, as set forth in the Singapore Exchange Mainboard Rules (Chapter 10, Part VIII).