Apollo Platform to be Licensed by Supercar Brand De Tomaso
Enhances Group Market Potential
(13 May 2020, Hong Kong) Apollo Automobil, an indirect non-wholly owned subsidiary, also announces entering into a license agreement with supercar brand “De Tomaso” whereby De Tomaso will license Apollo Automobil’s new vehicular platform in the production of its future vehicles. The Group feels confident and optimistic of its journey into the future of mobility.
Apollo Automobil, an indirect non-wholly owned subsidiary of the Company, entered into the License Agreement with De Tomaso Automobili Limited (“De Tomaso”) whereby De Tomaso is granted the rights to use proprietary Apollo platforms (“the Platforms”) in ‘‘De Tomaso’’ branded vehicles worldwide at a minimum aggregate license fee of US$10,000,000 (equivalent to approximately HK$78,000,000) with a term of three years commencing from 12 May 2020 and ending on 11 May 2023.
Apollo Automobil is designing and developing a new vehicular platform which can be used in various types of vehicles worldwide. The Platform includes a complete rolling chassis including crash structures, full powertrain, electronics and suspension, and is proprietary to Apollo Automobil. The cooperation will strengthen the Group’s business strategy of creating a turnkey platform for ‘‘Future Mobility’’ and will be able to leverage on the success and branding of De Tomaso to demonstrate its capabilities to other potential customers.
Mr. Ho King Fung Eric, Chairman of Apollo Future Mobility Group, comments, “As for the licensing agreement with De Tomaso, we are pleased to have this opportunity to work with such a prestigious and iconic supercar brand. We believe the collaboration further enhances the Group’s brand awareness and expansion into the global mobility market, fostering its future leading position. In sum, we are excited about the future of AFMG and are confident of the Group’s new direction.”