EV Technology Group Prepares for Growth With Production of the First Electric MOKE

TORONTO, May 19, 2022 (GLOBE NEWSWIRE) -- EV Technology Group Ltd. (the "Company” or "EV Technology Group”) (NEO: EVTG, DE:B96A) announces today that production of the first fully Electric MOKE vehicle has been completed by MOKE International Limited ("MOKE International”) following investments by EV Technology Group in both MOKE International and its UK manufacturing partner.

EV Technology Group is an investor in, and strategic partner of, MOKE International, the official producer of MOKE vehicles since it acquired the original 1964 trademark and started production in 2015. The MOKE is an iconic car, first made famous by the likes of James Bond and Brigitte Bardot in the 1960s following which it became popular in destinations including the South of France, Australia and the Caribbean. With the release of this ground-breaking Electric MOKE, MOKE brings its iconic brand into the carbon-free future.

The Electric MOKE has been in design and development for over 3 years. It is being manufactured in the United Kingdom to the highest quality standards and is currently completing homologation testing requirements in Spain.

The first ‘Wave Blue’ Electric MOKE came off the production line today and will also be available in 4 additional launch colours, chosen to reflect its spiritual home next to clear waters and golden beaches. With the range expected to be officially verified as 120km, from a European-made lithium battery, the Electric MOKE is predominantly made from European parts, enabling tariff free export into the EU. The first production car is being shipped for demonstration purposes at Casa MOKE, MOKE France SAS’ flagship store in St Tropez, a legendary town on the French Riviera with a long historic association with the brand.

The Electric MOKE, now in production

"Seeing the first Electric MOKE vehicle come off the production line is a momentous step,” said Wouter Witvoet, Chief Executive Officer of EV Technology Group. "The MOKE is truly iconic and we are seeing high demand for this electric variant - particularly in the South of France. We are excited to be backing MOKE and helping take the first iconic brand in our portfolio into an electric future”.

"This is something very special,” said Isobel Dando, Chief Executive Officer of MOKE International. "The Electric MOKE Electric has been assembled in the UK to the highest of standards, following years of detailed design and development work. The Electric MOKE keeps true to the heart of the brand, but its electrification makes this a vehicle that is ready for the future”.

"This moment signals the next great chapter in MOKE’s extraordinary legacy. From the moment MOKE International brought the marque home to the UK we have been committed to delivering MOKE’s unique marriage of fun and freedom under clean-air power,” continued Isobel Dando. "These cars are now in production at our partner’s state-of-the-art UK facility and ready for delivery to customers. We are proud to ensure the legacy of one of Britain’s best loved and most compelling automotive icons through electrification.”

EV Technology Group

EV Technology Group was founded in 2021 with the vision to electrify iconic brands - and the mission of redefine the joy of motoring for the electric age. By acquiring iconic brands and bringing beloved motoring experiences to the electric age, EV Technology Group is driving the EV revolution forward. Backed by a diversified team of passionate entrepreneurs, engineers and driving enthusiasts, EV Technology Group creates value for its customers by owning the total customer experience — acquiring and partnering with iconic brands with significant growth potential in unique markets, and controlling end-to-end capabilities. To learn more visit: https://evtgroup.com/

MOKE

MOKE and the MOKE logo are trademarks or registered trademarks of MOKE International Limited in the European Union and other territories. MOKE International, a company registered in England, is the only manufacturer of genuine MOKE vehicles worldwide. The mark was acquired from Casti S.p.A. and derives from the original 1964 British Motor Corporation registration. MOKE France is the official French licensee. For more information visit: https://mokeinternational.com  

Media
Rachael D’Amore
rachael@talkshopmedia.com
+1519-564-9850

Investor Relations
Dave Gentry
dave@redchip.com
+14074914498

EV Technology Group
Wouter Witvoet
CEO and Chairman of the Board
wouter@evtgroup.com

Forward-Looking Information

This news release contains forward-looking statements including, but not limited to, production of the Electric MOKE, range of the Electric MOKE, homologation testing requirements in Spain, MOKE International and EV Technology Group operations, expectations, and future actions. Often, but not always, these Forward-looking Statements can be identified by the use of words such as "estimated”, "potential”, "open”, "future”, "assumed”, "projected”, "used”, "detailed”, "has been”, "gain”, "planned”, "reflecting”, "will”, "containing”, "remaining”, "to be”, or statements that events, "could” or "should” occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements, including those factors discussed under "Risk Factors” in the 2021 Annual Information Form of the Company. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except where required by law. There can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

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