Ev Dynamics

What Ev Dynamics does

Ev Dynamics (Holdings) Limited (HKEX: 476; formerly China Dynamics (Holdings) Limited) is a Hong Kong-incorporated, publicly listed new energy commercial vehicle company that designs, manufactures, and supplies electric buses, minibuses, logistics vehicles, heavy trucks, and B2B electric running platforms. The company operates R&D centers in Shenzhen, Beijing, Tianjin, and Dongguan, with manufacturing in Wulong/Qijiang (Chongqing) and a China operating headquarters platform in Hangzhou (Zhongtong Kinetic Energy). Its technology stack centers on new energy platform power systems, lithium-ion polymer solid battery technology, hydrogen fuel cell engine integration (with Sinomec), and a proprietary cloud-based Intelligent Networked Vehicle Real-Time Monitoring System for fleet diagnostics, predictive maintenance, and ADAS features. The company holds EU factory certification (IDIADA, 2017) and Hong Kong Transport Department certification, enabling direct vehicle registration in those markets.

Ev Dynamics serves government agencies, public transit operators, logistics and last-mile delivery fleets, and other bus manufacturers across Hong Kong, Mainland China, Southeast Asia (Philippines, Malaysia), Japan, the Middle East, Europe, and the Americas. Named customers and partners include Bimbo (largest-ever supply agreement), Hong Kong Fire Services Department, Airport Authority Hong Kong, GET Philippines, DHL, IKEA Austria (via Quantron), and three SANY Group subsidiary agreements for the Xinjiang Coal Outbound Transport corridor. Distribution is executed through direct enterprise sales, exclusive regional partners (GET Worldwide, Citizens Resources LLC, EX JOINTS), and joint ventures (LOKI with W Motors in Dubai, EVD.MCB with MCB Ventures).

The business model combines one-off hardware sales (electric buses, minibuses, logistics vehicles, specialty vehicles, and B2B e-platforms/retrofit kits) with a managed-services Transport as a Service (TaaS) layer that bundles vehicle procurement, operations management, and charging/battery swapping infrastructure. Revenue historically came predominantly from vehicle sales; the SANY/Xinjiang Huiyi partnership (announced January 2026) marks a deliberate pivot toward recurring TaaS revenue. Pricing is negotiated per project on enterprise and government contracts, and no public price points are disclosed. Reported H1 FY2020 revenue was HK$21.5 million (approximately 700% YoY growth) with a 32.5% gross margin, against a FY2019 base of approximately HK$5.1 million.

Name

Ev Dynamics

Legal name

Ev Dynamics (Holdings) Limited

Website

https://chinadynamics.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

51–100 employees

Short description

Ev Dynamics (476.HK) manufactures electric buses, minibuses, logistics vehicles, heavy trucks, and B2B e-platforms. It serves government agencies, transit operators, and fleet customers across Asia, Europe, the Middle East, and the Americas, transitioning to a Transport as a Service recurring revenue model.

Ownership category

akta.pro rank

Product category

Electric Commercial Vehicles

NAICS

Heavy Duty Truck Manufacturing (336120), Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632), Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing (53212)

SIC

Truck & Bus Bodies (3713), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

EV Fleet Leasing & Subscription (EVs, Charging Bundles, Battery-as-a-Service) (TLABAHAH)

akta.pro secondary industry

EV Retrofit & Electrification Conversions (Fleet/Commercial) (TLAKAMAK)

Keywords

• Electric commercial vehicles
• New energy vehicles
• Electric bus manufacturing
• Commercial EV powertrains
• Transport as a service

Headquarters

HQ city

Hong Kong

HQ country

Hong Kong SAR China

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Electric Vehicle Sales: One-off vehicle sales of electric buses, minibuses, logistics vehicles, and specialty purpose-built vehicles to government, fleet operators, and B2B clients. Products include 6m, 8m, 10m, and 12m electric buses; 3T and 4.5T logistics vehicles; and electric mobile command units.
2. Transport as a Service (TaaS): Recurring revenue model centered on 'vehicle operations and energy services' where customers pay by mileage or ton-kilometer without bearing high upfront vehicle purchase costs. Includes new energy vehicle procurement, joint operations management, and charging/battery swapping infrastructure deployment. Ev Dynamics transitioned from one-off sales to this model following the SANY Group partnership.
3. B2B Platform/E-Kit Sales: Sale of fully electric running platforms, powertrains, battery packs, and retrofitting kits to other bus manufacturers and partners. Quantron AG sources e-vehicle components and retrofitment kits; Citizens Resources LLC purchases vehicles and components for assembly in Mexico.
4. Charging and Battery Swapping Infrastructure: Revenue from investment in and operation of charging and battery swapping stations in logistics corridors (e.g., Hami, Xinjiang). Xinjiang Huiyi New Energy provides energy replenishment services for project equipment, and both parties jointly assess infrastructure construction requirements.

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Ev Dynamics designs, develops, and manufactures a portfolio of new energy commercial vehicles, including electric buses in 6m, 8m, 10m, and 12m configurations, electric minibuses (including the 6.5m COMET and 7m accessible minibus), 3T and 4.5T pure electric logistics vehicles, electric heavy trucks for bulk logistics, and specialty vehicles such as electric mobile command units. The company also sells fully electric running platforms, powertrains, battery packs, and retrofit kits to other bus and vehicle manufacturers, and increasingly delivers Transport as a Service (TaaS) solutions that bundle vehicle operations with charging and battery swapping infrastructure.

Product overview

Ev Dynamics is a new energy commercial vehicle manufacturer offering a portfolio of electric buses, minibuses, logistics vehicles, and specialized vehicles. The product lineup includes electric buses in various sizes (6m to 12m), last mile delivery solutions with configurable designs, B2B electric platforms for other manufacturers, electric logistics vehicles (3T and 4.5T), COMET electric minibuses, and specialized vehicles like electric mobile command units. The company provides integrated driving and logistics solutions backed by technology in new energy platform power systems and key components. Recent expansion includes electric heavy trucks for bulk logistics and the Transport as a Service (TaaS) model.

Differentiator

Problem solved

Functional benefit

Products and services

• Electric Buses Electric buses in 6m, 8m, 10m, and 12m configurations with high and low floor options, designed for public transport operators, government transit authorities, intercity coach services, and accessible transport for disabled and elderly passengers.
• Last Mile Delivery Solutions Electric last-mile delivery vehicles with configurable design enabling rapid customization for urban centers restricting gas-powered vehicle access; targeted at logistics companies, retailers, and last-mile delivery operators.
• B2B Electric Running Platforms Fully electric running platforms (chassis, powertrain, battery pack, steering, wheels and brakes) sold to other bus and vehicle manufacturers to enable easier transformation to electric vehicles; platforms can be adapted based on customer specifications.
• 3T Pure Electric Smart Logistics Vehicle 3-ton pure electric logistics vehicle with proprietary platform electric system modular controller, advanced vehicle perception and Internet of Vehicles technology; battery total energy of 50.8 kWh and driving range exceeding 256 km. Designed for urban logistics and last-mile delivery operators.
• 4.5T Pure Electric Smart Logistics Vehicle 4.5-ton pure electric logistics vehicle with larger cargo capacity than the 3T model; battery total energy of 82 kWh. Designed for urban green logistics distribution and delivery companies.
• COMET Electric Minibus 6.5-meter electric minibus designed for emerging markets, equipped with a mobile application for intelligent fleet and passenger management. Targeted at public transport operators and e-mobility companies in the Philippines, Malaysia, Africa and Latin America.
• Electric Mobile Command Unit Specialty purpose-built electric mobile command unit for emergency services; equipped with a 350kW electric motor, 422 kWh battery, high-capacity uninterruptible power supply system, wireless communication system, electronic dispatch system, generator, and public power connection device. Designed for the Hong Kong Fire Services Department and similar emergency response agencies.
• Electric Heavy Trucks Electric heavy trucks for bulk commodity transportation along dedicated logistics corridors such as Xinjiang Coal Outbound Transport; deployed as part of the TaaS model with integrated charging and battery swapping infrastructure, intelligent vehicle management, and route-based carbon emission management. Targeted at state-owned enterprise subsidiaries managing bulk haulage.
• 7M Pure Electric Accessible Minibus 7-meter pure electric intelligent accessible minibus with automatic emergency braking system, lane departure warning system, fatigue driving alarm, low floor design, wheelchair spaces, and retractable ramp for disabled and elderly passengers. Targeted at Hong Kong public transport and accessible mobility programs.
• 12-Meter Rolling Platform 12-meter rolling electric platform comprising complete chassis with powertrain, battery pack, steering, wheels and brakes; supplied to OEM customers in Latin America for electric bus assembly.

Quantifiable outcome

• Revenue increased nearly 700% year-on-year to HK$21.5 million in H1 FY2020, with gross profit margin improving from 3.3% to 32.5%
• +3 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature6 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Xinjiang Huiyi New Energy Co., Ltd. (新彊滙一新能源有限公司)coreStrategic or Co-development Partner · 2 January 2026Zhongtong Kinetic Energy (Hangzhou) Technology Co., Ltd., Ev Dynamics' China operating headquarters, entered into a Strategic Cooperation Framework Agreement with Xinjiang Huiyi New Energy, a subsidiary of SANY Group, to jointly develop an efficient, green and intelligent new energy bulk logistics transportation system. Cooperation covers new energy vehicle procurement, joint operations management, and charging/battery swapping infrastructure construction targeting the Xinjiang Coal Outbound Transport corridor. Xinjiang Huiyi New Energy provides end-to-end technical support and access to SANY Group's after-sales network in Northwest China. This partnership shifts Ev Dynamics from one-off vehicle sales to a recurring revenue TaaS model.
• MCB VenturescoreStrategic or Co-development Partner · 5 September 2024Ev Dynamics and MCB Ventures launched EVD.MCB, a fully-owned subsidiary focused on eco-capital operations across Asia and Africa. MCB Ventures is a venture capital platform integrating traditional finance with decentralized finance (DeFi) within the blockchain ecosystem, focused on regenerative energy, biofuel production, and next-gen AI. Mr. Chris Lu, founder, chairman and CEO of MCB Ventures, serves as Executive Director and CEO of EVD.MCB. The partnership aims to drive rapid adoption of commercial EVs and advanced power generation solutions in hyper-growth regions.
• Zhongguancun Trust and Integrity Alliance for Technology and Innovation (中關村科技創新誠信聯盟)minorStrategic or Co-development Partner · 3 April 2023Strategic cooperation agreement to jointly promote autonomous driving technologies and seize market opportunities. Partners will collaborate on R&D and industrialization of autonomous driving and automatic parking technologies at airports. Ev Dynamics will be authorized to use and promote partners' technologies in Hong Kong.
• BimbocoreChannel Partner/ Reseller/ Distributor · 7 November 2022Ev Dynamics signed its largest ever supply agreement with Bimbo for electric delivery vehicles. Bimbo is a major food and beverage company with significant logistics and distribution operations.
• Quantron AG (Germany)coreStrategic or Co-development Partner · 4 May 2021Ev Dynamics strategically invested in Quantron AG, subscribing to approximately 4.98% of Quantron's enlarged share capital. Quantron sources e-vehicle components and retrofitment kits from Ev Dynamics to meet customer demand and explore joint development of light and medium e-delivery trucks. Quantron serves as Ev Dynamics' key gateway to Europe. Mr. Michael Perschke was appointed to Quantron's supervisory board as part of China Dynamics' team of International Advisors.
• Citizens Resources LLC (USA)coreChannel Partner/ Reseller/ Distributor · 13 April 2021MOU for exclusive master distributorship and licensing agreement covering Canada, USA, Brazil, Caribbean and Latin America. Citizens will use Ev Dynamics' technology, IP, know-how, and supply chain to assemble or manufacture electric vehicles in Mexico for the Exclusive Territory. Citizens purchases vehicles or components (powertrains, battery packs, e-kits, rolling platforms) from Ev Dynamics on a cost-plus basis.
• EX JOINTS Co., Ltd. (Japan)minorChannel Partner/ Reseller/ Distributor · 26 March 2021MOU between Japan Dynamics Co., Ltd. (Ev Dynamics subsidiary) and EX JOINTS to jointly promote electric vehicle business in Japan. Establishes business alliance in Machida City, Tokyo, including sales center, showroom, maintenance and charging facilities, and automobile assembly plant in Machida City, plus a sales center in Haneda City.
• GET Worldwide, Inc. (California, USA)coreChannel Partner/ Reseller/ Distributor · 25 March 2021Long-term supply agreement with GET Worldwide for no less than 100 units of 6.5m COMET electric minibus within 6 months and not less than 500 units within 24 months. Vehicles to be used mainly in the Philippines and Malaysia, with plans to expand to Africa and Latin America. GET Worldwide is a California-based e-mobility solutions company and licensee of GET Philippines.
• W Motors Automotive Group Holding LimitedcoreStrategic or Co-development Partner · 22 March 2021Ev Dynamics and W Motors signed MOU to form LOKI (Low Emission Kinetic Energy), a 30:70 joint venture in Dubai. LOKI will establish a small series manufacturing facility in the UAE for assembly of body, interiors and other EV features. Ev Dynamics serves as official platform, powertrain and technology provider; W Motors serves as official partner for design, styling, assembly and marketing. Vehicle line includes pick-up trucks, delivery vans, recovery trucks, tow trucks, garbage trucks, public and private buses, and school buses. LOKI expected to launch two prototypes within 12 months.
• Hong Kong Productivity CouncilminorStrategic or Co-development Partner · 30 November 2020Completed sales orders for two smart electric buses for trial run by the Airport Authority Hong Kong and Hong Kong Anti-Cancer Society through the Hong Kong Productivity Council. Ev Dynamics also has an electric bus project in partnership with the Hong Kong Productivity Council.
• Hong Kong Ferry Company Limited (Hong Kong Aberdeen Ferry)minorStrategic or Co-development Partner · 20 May 2019Strategic cooperation MOU to promote green marine transport. Ev Dynamics plans to provide new electric propulsion ferries for the Hong Kong Aberdeen to Ap Lei Chau route (1.2km, ferry under 10m, max 30 passengers).
• China Shipbuilding Industry Corporation (CSIC) - Four UnitsminorStrategic or Co-development Partner · 1 April 2019Strategic cooperation with four CSIC units (China Ship Design and Research Center, CSIC Yuanzhou Beijing Technology, Wuxi Saixinyi Electric Technology, and CSIC Xiamen Hailu Smart Technology) to jointly develop next-generation electric vessels and electric ferryboats. Cooperation covers hydrogen fuel cell, lithium battery, and diesel-electric new energy vessel technologies for Hong Kong, Guangdong-Hong Kong-Macao Greater Bay Area, and global markets including Paris, Moscow, London, New York, Venice and Amsterdam.
• DHL (China)minorChannel Partner/ Reseller/ Distributor · 11 October 2018Strategic cooperation agreement signed at the Shenzhen International Logistics and Transportation Expo. DHL and Ev Dynamics exploring electric logistics vehicle deployment.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Yutong Bus: China's largest commercial bus manufacturer with a substantial new energy electric bus portfolio (6m-18m). Directly comparable to Ev Dynamics in the electric public transit bus segment across 6m-12m configurations, though at materially larger scale.
• BYD: Global leader in new energy vehicles with a significant commercial vehicle division producing electric buses and trucks. Competes with Ev Dynamics in both passenger electric buses and electric logistics vehicles, and offers similar battery and powertrain technology.
• Quantron AG: Germany-based commercial EV manufacturer and EVD strategic partner/investee (4.98% stake). Directly comparable as a European commercial EV company focused on electric vans and trucks, retrofitting, and components, with a similar B2B platform/kits business model.
• NFI Group (New Flyer): North American leader in heavy-duty transit buses (New Flyer and Motor Coach Industries) with a deep electric bus portfolio through the Xcelsior CHARGE platform. Directly comparable in zero-emission public transit, with similar regulatory and certification dynamics.
• Proterra: U.S. electric bus and battery technology company serving transit agencies with zero-emission buses. Comparable in electric bus product offering and battery technology focus, though primarily North America-focused.
• Lion Electric: Canadian manufacturer of all-electric medium and heavy-duty vehicles including school buses, transit buses, and trucks. Directly comparable across both electric buses and Class 5-8 trucks, and also pursuing a TaaS-style service offering for fleet electrification.

Emerging players

• Workhorse Group: U.S.-based company developing electric delivery vehicles and drones, with focus on last-mile delivery. Comparable in the electric last-mile delivery segment and specialty commercial EVs, though smaller scale and earlier stage than EVD in some markets.
• W Motors Automotive Group: UAE-based automotive design and manufacturing company and EVD's 70% JV partner in LOKI for Middle East EV assembly. Comparable as a regional EV manufacturer focused on premium and specialty vehicles serving the same Middle East customer base.
• GreenPower Motor Company: Canadian manufacturer and distributor of all-electric buses and trucks targeting the North American school bus, transit, and delivery markets. Comparable as a smaller-scale electric commercial vehicle manufacturer competing in similar public transit and last-mile delivery segments.

Broad incumbents

• SAIC Motor (Commercial Vehicle Division): One of China's largest automakers with a substantial commercial vehicle portfolio including electric trucks and buses through its Maxus and Hongyan brands. Comparable as a broad incumbent in the same electric commercial vehicle space with greater scale and dealer reach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

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Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ev Dynamics