- AIWAYS agrees partnership with South Korean distributor, Prime Automobile
- U5 available in China in December, in selected European markets next year
Shanghai, China, 29 November 2019 – AIWAYS, the Shanghai-based personal mobility provider, has signed a Memorandum of Understanding (MoU) with local vehicle distributor, Prime Automobile, to distribute the all-electric U5 SUV in South Korea from next year. South Korea will be AIWAYS’ first overseas market outside of Europe.
Under the terms of the MoU, Prime Automobile will market and sell the U5 directly to consumers or via its authorized dealers, and will take responsibility for building the AIWAYS brand in South Korea as well as maintaining an on-going relationship with end-users. Customers in South Korea will have the option of buying or leasing the AIWAYS U5 through Prime Automobile.
Dr. Alexander Klose, Executive VP Overseas Operation at AIWAYS, commented: “We’re very excited to have agreed this partnership with Prime Automobile in a strong overseas market and new sales territory for AIWAYS. We believe the all-electric U5 SUV has global appeal, and this move into South Korea is just the beginning of our ambitious international growth plan.”
Park Young Gyu, President of Korea Auto Parts Enterprise (China) Federation and Korea Automobile Industry (China) Federation, added: “With this partnership, AIWAYS will be the first Chinese EV startup to start selling cars in Korea next year. I am confident that the AIWAYS U5 will appeal to Korean car buyers with its impressive range, design and high quality. Sales of SUVs in South Korea have hit new highs over recent years, and the all-electric U5 will be a great fit for the market.”
The start of distribution by Prime Automobile in South Korea will begin in 2020, and the U5 goes on sale in China in December 2019.
The U5 is a statement of intent for the AIWAYS brand as it aims to bring affordable and connected zero-emissions family transport to global markets. The mid-size SUV will offer style, premium build quality and 503km battery range (NEDC).
AIWAYS media contacts:
Emma Hai, AIWAYS Overseas Brand & PR Director
Emma Hopgood, PFPR Communications
+44 (0)7809 215894