ELECTRICBRANDS SHARES XBUS TIMELINE UPDATE & MORE

22nd February 2023

Electricbrands have shared XBUS, Evetta and more timeline updates in the latest video shared on their social media pages. The video also includes more information in their partnership with one of Europe's largest car manufactures VDL Nedcar which was announced on 15/2/23.

For your convenience we have added our own video featuring the highlights, in English, which can be seen below.

• Electircbrands CFO Confirmed that the German bank VR -BANK as a long time investor, saying "They are enthusiastic about our business model and supports us through shareholding. This investment is in the single-digit million range’

• Electricbrands is the umbrella of lots of 'electric brands' that they have in mind saying "Electricbrands AG has become the home for our business activities to make sure that we can move our prototypes into Volume production" This is of course evidence with the purchase of Artega at the end of 2021 which was since been renamed to Evetta in 2022.

• Electricbrands family has grown saying they now have 200 development & product service providers, 40 permanent staff employees and 20 freelance employees.

• New partnership with FCA Bank in Europe who will guide financing, leasing and other purchasing options for their products.

• Next they talked about manufacturing. "Electricbrands negotiated for almost a year amongst meeting tough criteria to partner with one of the top three worldwide companies in contract vehicle manufacturing and that is the dutch company VDL Nedcar from the VDL Family or VDL Group. They will share the responsibility for quality and high standards of manufacturing of EB’s vehicles."

• Finally An updated timeline was shown. The key takeaways include Evetta which will start delivery of the first demos at the end of 2023 with customer deliveries in the first half of 2024 Production for xbus will start in the middle of 2024. No delivery time has been given but we can expect that means delivery will start end of 2024 start of 2025.

You can watch the full original video on ElectricBrands YouTube channel by clicking here.

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