Infobird and HYCAN, a New EV Brand in China, Partner to Promote a Digital Marketing Solution for this Rapidly Growing New Energy Vehicle Brand

Rhea-AI Summary

Infobird Co., Ltd (Nasdaq: IFBD) has signed a service agreement with HYCAN, a New Energy Vehicle (NEV) manufacturer, aimed at enhancing digital marketing for HYCAN's intelligent vehicles targeting Generation Z consumers. This partnership could position HYCAN for significant growth in China's competitive NEV market, leveraging Infobird's expertise in AI-powered customer engagement solutions. HYCAN has rapidly developed its brand and technologies, with expectations to expand its product offerings and digital marketing capabilities, thus potentially increasing market share and sales.

Positive

• Partnership with HYCAN enhances Infobird's market position in the NEV sector.
• Potential for significant growth opportunities in digital marketing for HYCAN.
• Infobird provides advanced customer engagement solutions that could improve HYCAN's marketing effectiveness.

Negative

• Intense competition in the NEV market may pose challenges for HYCAN's marketing efforts.
• Future collaboration opportunities hinge on the evolving dynamics of the NEV industry.

BEIJING, Dec. 20, 2021 /PRNewswire/ -- Infobird Co., Ltd (Nasdaq: IFBD) ("Infobird" or the "Company"), a software-as-a-service provider of innovative AI-powered, or artificial intelligence enabled, customer engagement solutions in China, announced today it had entered into a service agreement with HYCAN, a New Energy Vehicle ("NEV") manufacturer, for a multidimensional partnership to enhance the brands digital marketing capabilities. Leveraging Infobird's all-inclusive solutions and resources, HYCAN can now more precisely and effectively promote its new intelligent vehicles to the large Generation Z customer base for NEV's and achieve a significant upgrade of its digital marketing tools.

This partnership is expected to be a driving force behind HYCAN's solid growth by pushing forward its digital marketing efforts and thus expanding its market share in China. Infobird believes there is broad opportunity for future collaboration between the two companies. With its experience and expertise in digital marketing, intelligent customer engagement, and private realm operation, Infobird has the capability to provide a variety of customer engagement capabilities for HYCAN. Together with HYCAN, Infobird is delivering a new model of digital marketing for this rapidly growing NEV enterprise.

Founded in 2018, HYCAN is a rising NEV company. Co-invested by Pearl River Investment, GAC Group and NIO, HYCAN has emerged as a high-end brand within the emerging futuristic travel ecosystem as it devotes itself to creating smart and pleasant travel experience and providing users with the intelligent "Third Space" other than residences and offices. This collaboration marks Infobirds's first of what it hopes will be many more customer awards for its digital marketing solutions in the NEV industry and ushers in a brand new growth vertical for its SaaS business.

With increasingly mature technologies and supporting facilities, it is expected that NEVs will become a major driving force for the vehicle industry. According to McKinsey China Auto Consumer Insights 2021, China's New Energy Passenger Vehicle("NEPV") market reported a sales volume of 1.127 million in 2020, up by 22%, including 60% for individual purchases. In 2020 China NEV Supply Chain White Book, Roland Berger predicted that by 2030, China's NEV sales volume is expected to reach 11.06 million, up by 881% compared to 2020. Nonetheless, as a growing number of NEV manufacturers enter the field, the competition for consumer attention is expected to become ever more challenging. This heightened competition will bring new requirements and challenges for both the product offering and the marketing power of vehicle manufacturers. McKinsey China Auto Consumer Insights 2021 states that China's vehicle market is in accelerating transformation, wherein "digital channels play an increasingly important role in consumers' decision-making. Automakers need to optimize digital touchpoints and promote their digital channels while establishing systems to manage online operations. The rapid change of consumer retail formats has triggered a strong desire among car buyers for a fully digitized experience in new car sales and after-sales services. OEMs should recognize these changes in consumer behavior and transform their retail network".

As an innovator in the NEV ecosystem and one of the newest brands, HYCAN made full use of the advantages and resources of its three shareholders, i.e. Pearl River Investment, GAC and NIO, ever since its establishment. Thanks to the strong resource support of its shareholders, within three short years, HYCAN has built its own ecosystem and formed a unique vehicle manufacturing platform. At present, HYCAN possesses 18 types of core technologies, over 800 technical and service achievements and 100 top scientists from all over the world. It has built itself into a world-class Intelligent 4.0 Factory and is likely to lead vehicle manufacture in the next generation. The whole process of its new mass-produced type Z03, from R&D, production arrangements to the product launch, took only 10 months. With the successive launches of new products, HYCAN is expected to cover sedans and SUVs fully by 2022. HYCAN adheres to co-creating with its users by identifying itself as "Fashion" and "Intelligent" in order to reach and attract the new generation of consumers more accurately by combining e-sports and cartoon IPs. As one of the fastest-growing manufacturers among NEV brands, HYCAN has gradually formed complete online and offline marketing channels. So far it owns 112 outlets in 102 cities around China. By the end of December2021, it will have 150 experience centers in total.

HYCA's orientation is to resonate with the younger generation and therefore aims to build an innovative and customized smart living style for them by breaking the traditional limits of automobile industry marketing, especially to young customers. As part of this new marketing trend, HYCAN is working to digitally connect and reach more users in a rapid and accurate manner. This collaboration with Infobird is one of the significant implementation goals of its more focused digital marketing campaign.

Infobird is a leading software-as-a-service (SaaS) provider of AI-powered customer engagement solutions in China. For over two decades, Infobird has developed solutions for a variety of business processes — from marketing, customer service to management. Infobird's products have been utilized by companies across industries, including Cloud Call Center, Omnichannel Cloud Customer Service, Smart Could E-Commerce Marketing, AI voice/text Chatbots, Intelligent quality inspection and Private Realm Operation. Infobird believes these numerous product platforms provide it with significant advantages, especially in the vital areas of customer engagement process understanding.

"To maximize the value of marketing and services by building a smart technology driven center where customers are willing to come and stay." This idea encompasses Infobird's outlook on SaaS development and it has been embraced by it partner, HYCAN. Infobird, with its strong track record resources and services, is able to successfully implement a customer journey-based digital marketing program for HYCAN, improving marketing effectiveness through multidimensional customer profiles and accurately reaching them from multiple channels.

About Infobird Software Co. Ltd.

Infobird, headquartered in Beijing, China, is a software-as-a-service provider of innovative AI-powered or enabled customer engagement solutions.

For more information about the company, visit www.Infobird.com.

Forward-Looking Statements

This press release contains certain forward-looking statements, including statements with regard to Infobird's proposed initial public offering. Words such as "will," future," "expects," "believes," and "intends," or similar expressions, are intended to identify forward-looking statements. Forward-looking statements are subject to inherent uncertainties in predicting future results and conditions and no assurance can be given that the proposed initial public offering discussed above will be completed on the terms described. Completion of the proposed initial public offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Infobird, including, without limitation, the failure of customary closing conditions and the risk factors and other matters set forth in the prospectus included in the registration statement in the form last filed with the SEC. Infobird undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Contacts
Infobird Co., Ltd
Yimin Wu, Chief Executive Officer and Chairman of the Board of Directors
wuym@infobird.com
86-010-52411819

Infobird Co., Ltd Investor Relations
TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com

View original content:https://www.prnewswire.com/news-releases/infobird-and-hycan-a-new-ev-brand-in-china-partner-to-promote-a-digital-marketing-solution-for-this-rapidly-growing-new-energy-vehicle-brand-301448075.html

SOURCE Infobird Co., Ltd

FAQ

What is the partnership between Infobird and HYCAN about?

Infobird has entered a service agreement with HYCAN to enhance digital marketing capabilities for its New Energy Vehicles targeting Generation Z.

How will Infobird's solutions benefit HYCAN?

Infobird's AI-powered customer engagement solutions are expected to improve HYCAN's marketing effectiveness and expand its reach to consumers.

What market segment is HYCAN targeting?

HYCAN is focusing on the Generation Z customer base interested in New Energy Vehicles.

What are the growth expectations for HYCAN in the NEV market?

HYCAN aims to achieve significant growth by enhancing its digital marketing and expanding its product offerings.

What challenges does HYCAN face in the NEV market?

HYCAN faces intense competition from other NEV manufacturers, which may complicate its marketing efforts.