Aionex Opens Headquarters in Thailand Ready to Start Manufacturing and Distributing Electric Motorcycles and Battery Swapping Services Mid-Year

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Dr. Buranin Rattanasombat (2nd from Left), Chief New Business and Infrastructure Officer of PTT Public Company Limited (PTT), together with Mr. Allen Ko (2nd from Right), Chairman of KYMCO Group, served as co-chairs at the press conference announcing the opening of the headquarters of Aionex Company Limited (Aionex). Together with Mr. Cherdchai Boonchoochuay (Left), Chairman of Aionex and Senior Executive Vice President, Innovation and New Ventures of PTT, Mr. Ekachai Yimsakul (Right), Director of Aionex and Managing Director of Arun Plus Company Limited (Arun Plus) and Mr. Gary Ting (Center), Chief Executive Officer of Aionex. This event took place at Palangthai Room 2, PTT Headquarter in Bangkok. Aionex is a company established by Arun Plus, Kwang Yang Motor Company Limited (KYMCO) and KYMCO CAPITAL PRIVATE EQUITY MANAGEMENT Company Limited or KC (a subsidiary under KYMCO) to manufacture and distribute KYMCO electric motorcycles and provide battery swapping stations for electric motorcycles under the intelligent "Ionex" operating system platform in Thailand within this year, aiming to strengthen the electric motorcycle ecosystem and become a leading exporter of electric motorcycle technology to the ASEAN region.

Mr. Allen Ko, Chairman of KYMCO Group, stated, "Promoting the development of the electric motorcycle ecosystem requires strong partnerships to jointly deliver products and services that meet both usage and consumer needs, facilitating the transition to increased electric motorcycle usage. Collaborating with Arun Plus will enable Aionex to advance and drive the strength of Thailand's electric motorcycle ecosystem. KYMCO is an internationally recognized motorcycle brand from Taiwan known for its quality and durability, and we believe that if Thai consumers try KYMCO electric motorcycles, they will experience the same quality and durability."

Mr. Ekachai Yimsakul, Director of Aionex and Managing Director of Arun Plus, added, "Aionex establishes from a joint venture between Arun Plus, a wholly owned subsidiary of PTT, and KYMCO Group, recognize business opportunities in Thailand's motorcycle market, with having highest users in the world and approximately 22 million accumulated motorcycles registered in the country. These statistics reflect the consumer demand for motorcycle usage and the electric motorcycles is a modern driving innovation that Arun Plus foresees the opportunity of making a difference in our domestic motorcycle market. Therefore, we have partnered with KYMCO Group, a global motorcycle manufacturer from Taiwan which KYMCO electric motorcycles designed to meet the current behaviors of Thai drivers. Therefore, we are confidence that Thai consumers will have new driving experiences with modern driving technology while reducing environmental impact at the same time"

Mr. Gary Ting, CEO of Aionex, stated, "Thailand is one of the fastest-growing electric motorcycle markets in Southeast Asia. Aionex's decision to open its headquarters in Thailand is a significant step reaffirming our commitment and readiness to promote Thailand as a base for exporting a variety of products and technologies from KYMCO Group to the Southeast Asian market. Aionex is confident that KYMCO Group's products and technologies will be well received by Thai consumers, just as they have been globally. We aim for Aionex to become a leader in the electric motorcycle industry in ASEAN."

Furthermore, Mr. Gary Ting revealed, "Aionex has set its goal for this year to ensure that Thais will get to know and experience Aionex's intelligent electric motorcycle ecosystem. We plan to launch our flagship store in Bangkok in July, along with introducing at least four models of KYMCO electric motorcycles in Thailand during this year. We will also introduce battery swapping services for electric motorcycles under the 'Ionex' smart platform in the form of a 'Battery as a Service (BaaS) Subscription Model,' offering monthly battery exchange services tailored to customers' usage patterns. This BaaS battery swapping service will alleviate concerns about battery maintenance and degradation. We will have test ride events with the media and key opinion leaders to demonstrate the quality and readiness of our battery swapping stations."

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