Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 371

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 371
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 -carbonfuels with high energy density for automotive use. Another advantage of e -fuelis its compatibility with existing ICVs without requiring significant modifications. The following chart sets forth the major application scenarios and features of the various types of commercial NEVs. 176

Comparison of Key Features and Applications of Major New Energy Commercial Vehicles

| Vehicle Type               |     | Commercial BEV                   |     | Commercial PHEV                   
 and EREV                          |     | Commercial FCEV                   |
| Major Application Scenario |     | •   Urban delivery;              |     | •   Long-haul transportation;     |     | •   Long-haul transportation;     |
|                            |     | •   Urban public transportation; |     | •   Heavy-load logistics          |     | •   Heavy-load logistics;         |
|                            |     | •   Mining and port operations   |     |                                   |     | •   Urban public transportation   |
| Transportation Features    |     | •   Relatively low speed;        |     | •   Relatively high speed;        |     | •   Relatively high speed;        |
|                            |     | •   Frequent start and stop;     |     | •   Long-distance transportation; |     | •   Long-distance transportation; |
|                            |     | •   High energy consumption      |     | •   Large transportation capacity |     | •   Zero emission                 |

Source: F&S Report Value Chain of Commercial NEV Industry Participants in the commercial NEV industry primarily include upstream suppliers, midstream manufacturers and downstream customers. Upstream suppliers provide vehicle components, such as batteries, electric control and motor parts, and energy sources, such as electricity, hydrogen and e -fuel. Mid -streammanufacturers specialize in the research and development, manufacture, sales and after -salesservices of commercial NEVs. Downstream customers rent or purchase commercial NEVs and span across various industries, such as port transportation, mining, long -haultransportation and industrial park transportation. As the adoption rate increases, the industry value chain for commercial NEVs has expanded to aftermarket and other high value -addedservices, such as financing and infrastructure construction. Market Size of Global and China’s Commercial NEV Markets The increasing focus on sustainability, government incentives and stricter emissions regulations have been key drivers for the adoption of commercial NEVs. Businesses and fleet operators have been gradually transitioning to cleaner and more eco -friendlyvehicles to reduce their carbon footprint and comply with environmental standards. In the global market, the