On May 28, Shanghai PanGood Power Technology Co., Ltd. (PanGood)and Fangsheng Axle (Liuzhou) Co., Ltd. (FANGSHENG) signed an MOU on strategic cooperation in Jinhua, Zhejiang. Han Jun, founder of PanGood, and Hu Wanliang, general manager of FANGSHENG, signed the agreement on behalf of both parties.

According to the memorandum, both parties will establish a joint venture by developing integrated electric drive axles in the fields of new energy commercial vehicles, new energy mining trucks, special vehicles, thus promoting the high-level development of electric drive systems for commercial vehicles in my country.

Before the signing ceremony, the leaders of FANGSHENG visited the PanGood exhibition hall, and expressed their praise for PanGood adherence to the corporate philosophy of seeking truth, innovation, and symbiosis, as well as expressed their appreciation for PanGood axle and showed strong interest in electric drive system assemblies that are smaller in size, lighter in weight and higher in power density.

Fangsheng Axle (Liuzhou) Co., Ltd.

Fangsheng Axle (Liuzhou) Co., Ltd. (hereinafter referred to as "Fangsheng Axle") was founded in May 1979. It was established as a joint venture by Guangxi Fangsheng Industrial Co., Ltd. and Taiwan Liuhe Machinery. It enjoys one of the five major automobile cities， and it is known as the "Southwest Industrial Town". After more than 30 years of rapid development, it has an annual production scale of 500,000 front and rear axle assemblies. And it has become a famous commercial vehicle axle manufacturer with excellent quality.

PanGood

In the context of efficient resource utilization and green and low-carbon development in China's economic development, PanGood insists on the characteristics of light weight, intensification, high efficiency, intelligence and material saving of axial flux motors as the core, based on the demand for In-depth understanding and value reconstruction, providing customers in different industries with positive R&D overall solutions, building a new ecology for various industries, helping carbon neutrality and sustainable development, and promoting the electric drive industry revolution.

PanGood is the first company in the world to achieve mass production of axial flux motors. As of May 2022, PanGood has applied for a total of more than 1,000 patents, ranking first in the field of axial flux motors.