Zapp EV Secures Required Regulatory Approval Enabling First Customer Deliveries in the United Kingdom
15 Juli 2024 - 6:14PM
Zapp Electric Vehicles Group Limited (Nasdaq: ZAPP) (“Zapp EV” or
the “Company”), owner of “Zapp”, the British electric vehicle brand
on a mission to revolutionise personal urban mobility, today
announced initial units of its i300 urban motorcycle have received
motorcycle single vehicle approval from the Driver and Vehicle
Standards Agency in the United Kingdom. Following this approval,
the i300 may be used on public roads in the United Kingdom, paving
the way for sales of the i300 to Zapp’s first customers. Zapp
expects these first deliveries in August 2024, ahead of wider
commercial rollout in Europe and Asia in the following months.
Swin Chatsuwan, Founder and Chief
Executive Officer of Zapp EV, said: “This approval of the
initial i300s to arrive in the United Kingdom for customers further
validates our commitment to quality and fit-for-purpose engineering
and design. We look forward to the first customer deliveries, which
will also showcase our convenient drop-ship-direct-to-customer
order fulfilment by Zappers completed from our branded Zapper vans.
Our business model is built for Zapp to scale rapidly, and these
first sales will be another important milestone on the road to
launching more widely in Europe while pursuing homologation in
India, Thailand and additional countries in Southeast Asia.”
About Zapp EV
Zapp EV (Nasdaq: ZAPP) and its operating
subsidiaries are run by a team of experts from the mobility
industry, on a mission to redefine the electric two-wheeler
segment. Zapp's debut product, the i300, is an urban electric
high-performance two-wheeler capable of traditional motorcycle
levels of performance in a step-through format, combining ease of
use with exhilaration and fun. The i300 is the first in a suite of
high-performance electric two-wheelers that Zapp plans to bring to
market. Zapp will offer a high-quality direct-to-customer
experience known as DSDTC (drop-ship-direct-to-customer). Customers
ordering the i300 online will have their bikes conveniently
delivered to their home by authorised “Zappers,” who will provide
at-home inspection, service and support throughout the vehicle
ownership lifecycle. Zapp is a registered trademark of Zapp
Electric Vehicles Limited in the United Kingdom and other
countries. For more information, visit www.zappev.com.
Zapp Investor Relations Contact:
Mark KobalHead of Investor Relationsir@zappev.com
Zapp Media Relations Contact:pr@zappev.com
Forward-Looking Statements
This press release contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended (or the “Exchange
Act”). These forward-looking statements generally are identified by
the words “believe,” “project,” “expect,” “anticipate,” “estimate,”
“intend,” “strategy,” “future,” “budget,” “opportunity,” “plan,”
“may,” “should,” “will,” “would,” “will be,” “will continue,” “will
likely result,” and similar expressions. Forward-looking statements
are not historical facts but rather are predictions, projections
and other statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events
and results to differ materially from those expressed or implied by
the forward-looking statements in this document, including but not
limited to various general and specific risks and uncertainties
associated with the Company's business and finances in general.
Readers should review and carefully consider the
risks and uncertainties described in the “Risk Factors” section of
Zapp EV's annual report on Form 20-F (File No. 001-41693), which is
incorporated herein by reference, and other documents the Company
files with or furnishes to the U.S. Securities and Exchange
Commission from time to time. These filings identify and address
important risks and uncertainties that could cause actual events
and results to differ materially from those expressed or implied by
the forward-looking statements herein. The forward-looking
statements herein represent the Company’s views as of the date of
this document. Subsequent events and developments may cause these
views to change. Readers are cautioned not to place undue reliance
on the forward-looking statements herein, all of which are
qualified by the foregoing cautionary statements. Except as
required by applicable law, Zapp assumes no obligation and does not
intend to update or revise the forward-looking statements herein,
whether as a result of new information, future events, or
otherwise. Zapp does not give any assurance that it will achieve
its expectations. The inclusion of any statement in this document
does not constitute an admission by Zapp or any other person that
the events or circumstances described in any such statements are
material.
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