Alset Inc (AEI) News & EventsAEINews & EventsAlset Inc

Alset Partners with Chery to Speed Up Electrification of Hong Kong Taxis

Alset announced that New Energy Asia Pacific Company, a Hong Kong based company in which AEI holds a 41.5% ownership interest through a subsidiary, is gaining traction in sales and making considerable progress in its expansion in the electric vehicle market. New Energy has an ongoing strategic collaboration with Kaiyi International Trade, a wholly owned subsidiary of Chery Automobile. Chery, listed on the Hong Kong Stock Exchange, is China's largest passenger car exporter and the fourth-largest automobile manufacturer in China, producing a diverse range of vehicles including sedans, SUVs, and electric vehicles across multiple brands for both domestic and international markets. New Energy has been selling electric taxis and private passenger vehicles in Hong Kong, with additional units already in production to fulfil confirmed customer orders. New Energy is increasing capacity to meet growing market demand. The Hong Kong Mortgage Corporation, a government-owned financial institution, has established a "Pure Electric Taxi 100% Guaranteed Loan Scheme", providing loans to taxi owners to purchase all-electric taxis to replace their LPG, gasoline, or hybrid taxis. The scheme will last till September 4, 2028. With these supportive measures lowering upfront cost barriers, these initiatives make it easier for individuals and companies to adopt electric vehicles, driving both growth and sustainability in Hong Kong's EV market.

Alset announces new $1M stock repurchase program

Alset announced that its board of directors has authorized a new stock repurchase program of up to $1M of the company's outstanding common stock. Repurchases under the program may be made through December 31, or until the authorized amount has been fully utilized, whichever occurs first.

Alset announces engagement with the robotics sector

Alset announced its strategic foray into the rapidly growing robotics sector, through a stake in Alset Robot. Alset Robot is majority owned by the Company and certain subsidiaries of the Company, including the Company's Singapore-based subsidiary Alset International Limited. The Company has set its sights on becoming a force in the robotics industry by delivering service solutions and offering a diverse portfolio of products from established robotics manufacturers. As part of this initiative, Alset Robot aims to establish strategic partnerships and collaborations with robotics manufacturers. These strategic alliances will drive the expansion of comprehensive marketing and service operations across high-potential markets, strengthening the Company's goal of becoming a player in the robotics industry. Alset Robot's focus will be centered on: Comprehensive Product Offerings: Delivering a comprehensive range of robotics solutions tailored for the domestic and consumer markets, as well as industries including healthcare, logistics, retail, and hospitality. Targeted Marketing Strategies: Implementing focused outreach initiatives to enhance market awareness and drive adoption. Specialized Service and Support: Providing end-to-end servicing to ensure seamless integration and optimal product performance.