Cornerstone Technology (08391) sub-brand Spark EV has reached a strategic partnership with Mile Green to jointly explore the blue ocean of electric motorcycles in Thailand.

On September 10, Keystone Technology (08391) announced that its affiliate Spark EV Company Limited has reached a strategic cooperation agreement with Mile Green Co., Ltd, a comprehensive new energy solutions provider and innovative electric vehicle brand, to jointly provide comprehensive charging solutions for the electric motorcycle market in Thailand. This cooperation not only signifies significant progress in the business expansion of Keystone Technology and Spark EV in Thailand, but also marks a key milestone for the group strategically extending the charging ecosystem to the electric motorcycle sector, achieving dual expansion of horizontal business coverage and vertical industry chain integration. According to the strategic cooperation agreement, Keystone Technology and Mile Green will jointly explore and develop cooperation opportunities in the deployment of electric motorcycle charging services in Thailand. In the first phase, Spark EV plans to install dedicated charging points for electric motorcycles at existing charging stations, integrating Mile Green's strengths in green batteries and innovative charging technology to create a unified and user-friendly charging platform. In the next phase, both parties will focus on seamless integration and development of hardware and software systems to create an intuitive, convenient, and efficient one-stop platform, further enhancing user experience and accelerating the adoption of electric transportation. Thailand has a large electric motorcycle market with a strong demand for charging infrastructure. According to the Pew Research Center, Thailand ranks first globally with up to 87% of households owning electric motorcycles, indicating a large market size and strong dependence on two-wheeled transportation. In addition, data from the Electric Vehicle Association of Thailand (EVAT) shows that sales of electric motorcycles are growing strongly, with new registrations expected to increase by over 250% in 2023, indicating significant market potential. Mr. Yap Zhao Kang, CEO and Executive Director of Keystone Technology, stated that Keystone Technology has the largest public charging network in Hong Kong, and the company's core business in Hong Kong is steadily expanding. Leveraging its rich operational experience in charging in Hong Kong, Keystone Technology officially launched its internationalization strategy in 2024 and chose Thailand as its first overseas market. Currently, Keystone Technology operates more than 70 charging stations and 200 charging points in Thailand through Spark EV, with plans to expand to 250 stations and 700 charging points by the end of this year to provide charging facilities for electric vehicle drivers; while Mile Green is a company focused on the development of electric vehicle ecosystems, with dual headquarters in Hong Kong and Thailand. Mr. Yap Zhao Kang explained that this cooperation will bring three core benefits to Keystone Technology: first, it will quickly tap into the highly potential electric motorcycle market to expand the ecosystem coverage range; second, by leveraging Mile Green's advanced battery technology to strengthen platform technical advantages, improve charging efficiency and user experience; third, by sharing resources to reduce research and development costs, accelerate technological iteration and market layout. This will not only achieve a seamless charging experience, help drive the transformation of green transportation, but also set an important milestone for future smart travel solutions, further consolidating Keystone Technology's leadership position in the charging infrastructure field in Hong Kong and Southeast Asia.