Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 373

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 373
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 the following: • Favorable policies and incentives. Pursuant to the Paris Agreement adopted in December 2015, numerous countries have committed to achieving net -zeroemissions and have formulated strategic plans to drive the development of commercial NEVs and related industries. In the United States, the Internal Revenue Service introduced the commercial clean vehicle credit, providing businesses with a tax credit for purchasing NEVs. In China, the development plan for the NEV industry (2021 -2035) was launched in November 2020, aiming to promote full electrification of vehicles for public use, pilot applications for 178 commercial fuel cell vehicles, and the establishment of a hydrogen fuel supply system. These favorable policies in major countries align with global efforts to combat climate change and transition towards a more sustainable and eco -friendlytransportation industry and are continuously driving the adoption and penetration of commercial NEVs. • Expansion of the downstream application of commercial NEVs. As the commercial NEV industry continues to grow, various sectors are benefiting from the eco -friendlyand sustainable transportation solutions offered by these vehicles, and commercial NEVs have therefore developed various application scenarios. These scenarios include mining operations, long -haultransportation, and port and urban transportation, each requiring corresponding design, configuration and auxiliary services. The expansion of downstream application scenarios of commercial NEVs has resulted in an increase in the penetration of these vehicles. Specifically with respect to the mining industry, which contributes significantly to global carbon emissions, many countries are implementing policies to transition to new energy solutions and achieve net -zerocarbon emissions. For instance, the government in China issued Guiding Opinions on Accelerating the Intelligent Development of Coal Mines in 2020, promoting the adoption of commercial NEVs for the mining industry. Mining operations are characterized by high energy consumption and short transport distances, necessitating high energy efficiency and cost -effectiveness. In comparison to ICVs, commercial BEVs are the preferred choice for mining operations due to their higher energy utilization rate and lower energy cost. With respect to the long -haultransportation industry, the government in China has outlined The Development Plan for a Modern Comprehensive Transportation System in the 14 thFive -yearPlan, aiming to promote the low -carbondevelopment of diverse transportation methods. For the conventional long -haultransportation industry, commercial vehicles need to possess characteristics, including long driving distances, large loading capacity and cargo volume, high safety profile, and reliable performance. Commercial PHEVs and EREVs are well -suitedfor long -haultransportation since they can operate at