Hexagon Composites — Regulatory Filings 2021

Jun 11, 2021

Hexagon Purus enters partnership with Velocity Vehicle Group - supplying zero emission medium duty commercial vehicles - based on the Freightliner M2 chassis - in California

Hexagon Purus enters partnership with Velocity Vehicle Group - supplying zero emission medium duty commercial vehicles - based on the Freightliner M2 chassis - in California

Hexagon Purus has entered a partnership with Velocity Vehicle Group (VVG),

a leading group of commercial vehicle dealers in the US, to deliver battery

packs and powertrain integration for medium-duty battery electric trucks in

California based on Freightliner's class 6 M2 platform.

Velocity Vehicle Group has taken an active leadership role in offering clean

vehicles to its customers across its product range and locations, and the

partnership with Hexagon Purus is an important part of this transition.

Hexagon Purus will deliver turn-key solutions that will convert up to 100 model

year 2021 Freightliner M2 medium-duty trucks to Hexagon Purus eM2 emission-free

medium duty electrical vehicle trucks. The design will be built upon the

platform from Daimler Trucks North America's successful Innovation Fleet of

battery electric medium- and heavy-duty vehicles. All Innovation Fleet trucks

operate using Hexagon Purus' battery electric solutions and technology. The new

zero-emission Hexagon Purus eM2 class 6 trucks will typically operate as package

delivery or utility trucks.

Deliveries of the new zero-emission Hexagon Purus eM2s in 2021 will be mainly to

customers operating in California. In 2022, deliveries of trucks operating in

other states in the US are also expected.

"We are committed to providing leading-edge clean vehicles to our customer base,

and have invested heavily in the infrastructure support, EV maintenance training

and product knowledge required to make this happen", say Brad Fauvre and Conan

Barker, Co-Presidents of VVG. "We are excited to offer the Hexagon Purus eM2

product in cooperation with Hexagon which will allow our customers in California

to achieve zero-emissions this year, with a proven platform that includes our

support".

"We are honored to enter this partnership with Velocity Vehicle Group. With a

shared commitment to clean transportation solutions, we are proud to see that

our offering enables the transition to zero-emission vehicles," says Todd Sloan,

EVP Systems, Hexagon Purus.

About the market

With California leading the way, there is a strong push to reduce carbon

emissions in the commercial vehicle market in the US. Government incentives and

new regulations such as those implemented by the California Air Resources Board

(CARB) are playing a significant role in driving this segment forward, resulting

in major fleet owners committing to zero-emission solutions.

Timing

The first deliveries are expected to take place in Q4 2021.

Contacts:

Karen Romer, SVP Communications, Hexagon Composites

Telephone: +47 950 74 950 | karen.romer@hexagongroup.com

Salman Alam, VP Corporate Development, Hexagon Purus

Telephone: +47 476 12 713 | salman.alam@hexagonpurus.com

About Velocity Vehicle Group

Velocity Vehicle Group (VVG) operates 57 commercial vehicle dealership locations

across California, Arizona, Nevada, Tennessee, Kentucky, North Carolina, Alabama

and Hawaii, and Baja California, Mexico. VVG also operates 15 Daimler

dealerships throughout Australia. VVG provides new & used commercial vehicle

sales, including the full spectrum from pickup trucks to delivery vans to 18-

wheelers and school busses, as well as aftermarket parts and service support,

along with a multitude of other vehicle-related services. VVG is an authorized

dealer for the Freightliner, Western Star, Autocar, Ford, Fuso, Thomas Built

Buses, Isuzu, Hino Trucks, SportTruck, Renegade RV, Rosenbauer fire, Crane

Carrier and Freightliner Custom Chassis vehicle brands. VVG also offers

equipment financing through its Crossroads Equipment Lease and Finance

subsidiary, as well as small business and SBA loans through Velocity SBA and

truck rental and leasing through Velocity Truck Rental and Leasing.

About Hexagon Purus

Hexagon Purus is a world leading provider of medium and heavy-duty battery

packs, vehicle systems integration for fuel cell electric and battery electric

vehicles and hydrogen type 4 high-pressure cylinders. Hexagon Purus enables zero

emission solutions for light, medium and heavy-duty vehicles, buses, ground

storage, distribution, maritime, rail and aerospace. Learn more at

www.hexagonpurus.com and follow @HexagonPurus in social media.