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Zapp EV Secures Increased Commitment of up to $50 million for i300 Electric Urban Motorcycle Rollout

Jul 12, 2024•almost 2 years ago

Contract Type

contract

LondonAutomotive

Description

Zapp Electric Vehicles Group Limited has entered into a new standby equity purchase agreement (the “New SEPA”) with an affiliate of Yorkville Advisors Global, LP, securing additional financial resources of up to $50 million to expand commercial operations to additional countries and start production and the commercial rollout of the i300 in India.

Company Information

Company

Zapp Electric Vehicles

Location

London, England, United Kingdom

About

Zapp Electric Vehicles Group Limited 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 authorized “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.

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