Zapp EV |
2024-10-10

Zapp EV Appoints AIH Group to Deliver New Manufacturing Reference Site following First Sales of i300 in Thailand

The new low-cost manufacturing facility located in the Bangkok Free Trade Zone will be delivered by AIH Group, a manufacturing consulting firm with a global footprint working with leading automotive OEMs.

LONDON, Oct. 10, 2024 (GLOBE NEWSWIRE) -- 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 it has entered into a turnkey engineering, procurement and construction (EPC) agreement with AIH Group to deliver its low-cost manufacturing reference site in the Bangkok Free Trade Zone, which is a 100 acre campus near Thailand’s capital city offering a total of 220,000 square meters in manufacturing capacity. The new reference site will showcase Zapp’s flexible manufacturing and Gen-2 sustainable assembly innovations, and completion is expected by early 2025. It will also serve as a template for Zapp to roll out an anticipated series of such proprietary sites around the world that can be operated by any number of contract manufacturers, each with an annualized production capacity of up to 20,000 units and located in regions where Zapp sees significant sales growth potential.

Swin Chatsuwan, Founder and Chief Executive Officer of Zapp EV, said: “Zapp is poised to scale rapidly worldwide in the coming years. Now that Zapp has commenced sales of i300 in Thailand, opening the new low-cost manufacturing reference site in the Bangkok Free Trade Zone brings benefits for both domestic sales and exports. AIH Group adds a wealth of expertise from operating its own contract manufacturing facility and at other locations around the world with well-known automotive brands. Working with AIH Group on this project is the first of our many planned flexible facilities that can be operated by contract manufacturers and replicated in more locations worldwide and closer to the urban markets that the i300 was designed for.

“Being able to personalise your i300 is incredibly important and often means each one is built to order. Reducing the time spent in transit between assembly and the customer’s doorstep adds to the ‘Gen-2 sustainabilty’ credentials of the i300, and means that our planned drop-ship-direct-to-customer model will see customers on their bikes in a shorter timeframe.”

Corrie Kotze, Chief Executive Officer of AIH Group, added: “We have worked with many leading automotive OEMs, including BMW, Ford, Land Rover and Mercedes-Benz, and we’ve been impressed by the Zapp team and the quality of i300’s design. With the added expertise that we bring, we look forward to supporting Zapp and accelerating its business plan in an effort to over-deliver on both its near- and long-term goals.”

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 Kobal
Head of Investor Relations
ir@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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USA Today |
2024-07-30

The Future of Electrification is on Two Wheels

The global transition towards electric vehicles (EVs) is well underway. However, much of the focus has so far centered on four-wheeled passenger cars. Two-wheelers, despite being a more popular mode of motorized transport outside the US, have received less attention. This is where the real opportunity lies. Significant challenges to adoption of electric vehicles in the four-wheeler space persist, and it remains unclear if battery electric vehicles will win out over rival technologies. In contrast, two-wheelers are better suited for electrification and existing battery solutions align with established consumer behavior. Recognizing this potential, Zapp, an emerging British brand focused on personal urban mobility, has built a nine-time award-winning EV specifically designed for this massive, overlooked segment of the market. 

Dominance of Two-Wheelers in High-Growth Economies 

Two-wheelers dominate transport usage across high-growth Asian economies. Nearly 75% of registered vehicles in India are two-wheelers. In Thailand, 87% of households already own at least one two-wheeler. Their benefits make them essential in daily life. 

In the US and Europe, riding a two-wheeler is often a leisure activity, while in emerging markets these vehicles are not just a means of transportation; they are a lifeline for millions. In countries with a burgeoning middle class, premium two-wheelers offer a still affordable and effective alternative to significantly more expensive four-wheelers. The convenience and cost of step-through two-wheelers have cemented their place in the transportation ecosystem of these regions. 

Environmental Impact of Electrification 

Given the sheer volume of two-wheelers on roads around the world, a shift in existing vehicles from internal combustion engines to electric alternatives promises substantial impact. According to the United Nations Environment Programme (UNEP), a global shift to 90% battery-electric motorcycle sales by 2030 could result in CO2 emissions reductions of about 11 billion tonnes between now and 2050. 

"Two-wheelers are better suited for electrification and can have an outsized impact since they are already deeply embedded into the transportation routine of millions of commuters across densely populated urban areas in Asia," said Zapp’s Founder and CEO, Swin Chatsuwan. “Transitioning to battery-electric vehicles would be a positive step towards improving local air quality and lowering mobility-related carbon emissions." 

Advantages of Electric Two-Wheelers 

Consumers buying a new four-wheel EV continue to expect more range on a single charge to address anxiety about the availability of charging points along any journey. One solution is to add more batteries; however, this can trigger a vicious circle where the added weight from more batteries requires still more batteries. This also adds to the cost of battery electric four-wheelers and many manufacturers are investing significant amounts of capital and operating with significant losses. 

The lightweight nature of two-wheelers means they require fewer battery cells, reducing the overall weight and improving energy efficiency. This makes them ideal for short urban commutes, which constitute most trips in high-density cities. 

Optimizing Two-Wheeler Electrification 

For urban riding, step-through frames aid maneuverability around congested streets, and many early electric two-wheelers are simply adapted from existing combustion engine models to electric drivetrains with mixed success. Purpose-built EV two-wheelers engineered specifically around electric powertrains showcase greater optimization. 

The race is on to establish the best battery solution in the two-wheel space.  One option is a battery that is removable, but larger, heavier, and reliant on dedicated battery swapping stations. In some sense, the need to find a battery swapping station is the modern equivalent of searching for a gas station when the fuel tank is empty.  

To gain wider adoption, another solution is a battery that is removable but also light enough to be portable so it can be carried inside and charged from any standard wall socket. This allows batteries to be charged alongside a phone or laptop, and eliminates the need for significant investments, public or private, in dedicated charging infrastructure. This is the solution chosen by Zapp. 

"Our design means that riders never need to worry about finding a charge point or swapping station. They simply charge at home, the office, or anywhere on-the-go, similar to how we charge our phones," Chatsuwan said.  

The Future of EV is Electric Two-Wheelers 

Rising congestion and urban densification in growing megacities will continue driving two-wheeler ridership globally regardless of powertrain, and tighter emissions regulations may prove effective in accelerating the transition to electric. 

With their inherent advantages in maneuverability, convenience and affordability, electric two-wheelers offer a practical and sustainable solution for empowering personal mobility, particularly in dense urban areas. 

Zapp's purpose-built i300 urban motorcycle represents a significant step forward in realizing the potential of electric two-wheelers. By leveraging award-winning design and a more practical battery solution, Zapp is making electric mobility more accessible and convenient for urban commuters. 

As the world moves towards a more sustainable future, the electrification of two-wheelers will play a crucial role in reducing carbon emissions and improving air quality in many cities. With continued technological advancements and supportive government policies, electric two-wheelers are set to become a mainstay of urban transportation, driving us toward a cleaner and greener future.

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Spencer Hulse |
2024-07-08

Revolutionizing Urban Mobility in Emerging Markets

Urban populations in emerging economies are growing rapidly as economic prospects continue to attract migration from rural areas. However, infrastructure and mass transportation solutions are struggling to keep up. Traffic congestion and dense smog have become the norm.

A viable solution is already embedded in everyday life — the ubiquitous two-wheeler. According to GlobalFleet, Asia accounts for 90% of worldwide powered two-wheeler sales. Forward-thinking companies like Zapp EV are leading the transition to electric vehicles with a new approach set to transform urban mobility.

Public Transit Falling Behind

Swelling city populations are outpacing infrastructure development. In Delhi, average commuting times have risen over 1.5 hours longer this past decade due to gridlock. The average speed on Manila’s roads has slowed from 21 km per hour to just 10 km per hour over the past 30 years. Large-scale public transit projects also typically run over budget and miss timeline projections.

“Megacities need expanded mobility options but face budget limitations,” says Zapp’s Founder and CEO, Swin Chatsuwan. “Two-wheelers present an accessible and affordable way to empower personal mobility and help alleviate the congestion created by four-wheeled vehicles.”

Going electric reduces tail-pipe emissions to zero. However, first-generation models struggled with power delivery and convenience. Zapp’s approach to design, along with removable and portable batteries that are chargeable from any standard wall socket, eliminates these consumer sticking points for an optimal blend of high performance, affordability, and sustainability for urban mobility.

Two-Wheelers Embedded in Daily Life

The powered two-wheeler market has been estimated at $130 billion globally, and expected to grow more than 70% to $224 billion by 2029, per Fortune Business Insights. The largest markets are in Asia, and other emerging markets are growing.

Two-wheelers represent the first major necessity purchase for many households in emerging economies – a milestone enabling independent mobility along with potential livelihood generation. Consumers in India bought nearly 16 million two-wheelers in 2022, underscoring this demand, which continues to rise.

Several factors drive this continued two-wheeler demand. Growing incomes expand purchasing power but parking spaces remain limited, deterring four-wheel vehicle ownership in cramped urban areas. Additionally, two-wheelers navigate congested roads more seamlessly. Lower total cost of ownership also improves the affordability of going electric. Replacing conventional drivetrains with an electric alternative unlocks further adoption and other benefits amid rising gas prices and eco-awareness.

Market Dynamics and Opportunities

The global market signals significant potential for powered two-wheelers. While India’s overall two-wheeler market reached a staggering 16 million units sold in 2022, a large proportion of those sales in India are still basic, entry-level models below 150cc, with the premium segment (above 150cc) accounting for 18% of total two-wheeler sales there in 2023.

This reliance on urban motorcycles for commuting persists across India and other major Asian markets like Thailand, where an estimated 87% of households already own at least one conventional two-wheeler. As incomes rise across emerging economies, the opportunity for sales of premium two-wheelers will increase commensurately.

Urban densification makes two-wheelers a consumer must-have rather than a discretionary decision.  Rising incomes allow consumers a choice to look beyond entry-level utilitarian models and instead select desirable premium lifestyle brands they want to have. Although limited charging infrastructure has hindered growth in sales of electric vehicles so far, Zapp sees a compelling opportunity as a British brand selling premium urban motorcycles that do not depend on dedicated charging infrastructure. With its design-focused approach offering a superior alternative to the mass-market models, Zapp’s recently launched i300 model is the vanguard of their vision, poised to attract customers seeking a sophisticated electric mobility solution in a step-through form factor without sacrificing high levels of performance.

Pioneering Purpose-Built EVs

Zapp engineered its inaugural model to surmount adoption challenges within urban environments. Its removable batteries allow convenient charging through any standard wall outlet.

Zapp also employs an asset-light business model that relies on contract manufacturing to facilitate a rapid production ramp-up globally. With export financing in place, significant contracted production capacity, and no minimum commitments, the company is prioritizing capital efficiency as volumes scale.

While mass transportation investments continue, decentralizing mobility through electric two-wheelers offers potential relief from emerging economy urban densification. Zapp’s purpose-built i300 aims to make battery-powered two-wheelers accessible and appealing to everyday commuters.

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Zapp Electric Vehicles Group Limited |
2023-07-26

Zapp Secures Twin Patents For Innovative i300 Electric Urban Motorcycle

• Zapp awarded two European patents for sector-transforming i300 electric urban motorcycle innovations ahead of customer deliveries later this year
• Patents received for unique Z-shaped exoskeleton and removable front fenders
• Exoskeleton endows i300 with unique combination of step-through scooter convenience and motorcycle performance and handling whilst enhancing sustainability and manufacturability
• Removable fenders unlock near-unlimited colourway personalisation options

LONDON, July 26, 2023 (GLOBE NEWSWIRE) -- Zapp Electric Vehicles Group Limited (NASDAQ: ZAPP) (“Zapp” or the “Company”), owner of a UK-based, high-performance two-wheeler electric vehicle brand, today announced it has been granted European patents for two components of its i300 electric urban motorcycle, which it anticipates will be ready for its first customer deliveries later this year.

The recognition from the European Patent Office relates to the i300’s Z-shaped exoskeleton and removable front fender. The grant of the patents highlights the innovative nature of the technology developed by Zapp to support the brand’s strategic vision, which encompasses the highest standards of design, performance, sustainability, manufacturing, and customer experience.

Zapp’s distinctive exoskeleton consists of two single-piece Z-shaped anodised aluminium components mounted on an underbone. It delivers a revolution in motorcycle chassis technology, and is central to the i300’s unique ability to combine the performance and dynamic handling of a motorbike with the step-through convenience of a scooter. The exoskeleton also endows the brand with its award-winning design language.

The fully recyclable Zapp exoskeleton solution provides numerous technical, sustainability, and commercial benefits. The two single-piece Z-shaped exoskeleton components replace a conventional-styled frame, which uses multiple connected tubes and welding points, allowing the vehicle to have a lower centre of gravity and lower weight, enhancing both handling and safety. The exoskeleton reduces the number of assembly components and also frees up space under the seat for storage. The Company believes the exoskeleton provides an ideal platform on which to base additional models and derivatives without significant additional investment.

Zapp’s second European patented component is the i300’s removable front fender, which brings a unique, almost infinite range of colourway personalisation options to the two-wheel sector for the first time. At any point after purchasing their i300, customers will be able to have the front fenders removed and replaced with new items in a colour of their choice. The personalisation upgrade will be carried out by an authorised ‘Zapper’ who will come to the customer’s home or workplace in a branded Zapp van, and perform the exchange. Going forwards, Zapp plans to collaborate with artists and leading cultural figures to create limited colourway collections.

The European patents (EP4058343 – ‘A seat-supporting structure for mounting on a motorcycle frame’ and EP4051563 – ‘Front fairing for a scooter’) further reinforce the world-class technology and design credentials of Zapp and its debut product, the i300 Carbon, which is now available to pre-order on Zapp’s website www.zappev.com.

Swin Chatsuwan, Founder and Chief Executive Officer of Zapp, said: “The notification of not one but two European patents is enormously gratifying for Zapp and proves the innovative nature of the technology and design underpinning the brand’s i300 electric urban motorcycle. Our exoskeleton transforms two-wheeled chassis technology and is key to endowing the zero-emission i300 with the convenience of a step-though scooter and the dynamic performance of a larger motorcycle.

“Zapp’s patented removable front fenders will also revolutionise the two-wheeled vehicle category by offering customers a range of colourway personalisation options previously the exclusive domain of the supercar and hypercar sectors. The exoskeleton and the removable front fender are pivotal to Zapp’s determination to transform the two-wheeler segment with superbly designed, technically advanced, zero-emission, fun-to-ride products. However, these are just two of more than sixty novel technical aspects of the i300, which will further amplify the product’s considerable customer appeal as we move towards first deliveries commencing later this year.”

About Zapp

Zapp’s principal operating affiliate is a British company, 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. For more information, visit www.zappev.com.

Investor Relations Contact:

Mark Kobal
Head of Investor Relations
ir@zappev.com

Global Media Relations Contact:

Influence Emobility
Lisa Palmer
+44 (0) 7956 710028
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's registration statement on Form F-4, as amended (File No. 333-268857), 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 these cautionary statements. 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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GlobeNewswire |
2023-05-01

CIIG II and Zapp Complete Business Combination

Zapp’s ordinary shares and warrants to list on the Nasdaq under the symbols “ZAPP” and “ZAPPW” respectively on May 1, 2023

NEW YORK and LONDON, April 28, 2023 (GLOBE NEWSWIRE) --   CIIG Capital Partners II, Inc.  (“CIIG II”), a Delaware corporation and a former U.S. publicly-listed special purpose acquisition company, today announced the closing of its previously announced business combination (the “Business Combination”) with   Zapp Electric Vehicles Limited  (“Zapp” or the “Company”), a private company limited by shares registered in England and Wales and a UK-based, high-performance two-wheel electric vehicle company. The combined company, Zapp Electric Vehicles Group Limited (“Pubco”), a Cayman Islands exempted company, will commence trading of its ordinary shares and warrants on the Nasdaq Stock Market under the ticker symbols “ZAPP” and “ZAPPW”, respectively, on May 1, 2023. The Business Combination was approved by CIIG II stockholders at a special meeting held on April 14, 2023.

Zapp is a British company 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.

“Since the beginning, a public listing has always been important to us, and everyone’s effort on this aspect of our business has made that goal a reality,”   said Swin Chatsuwan, Founder and Chief Executive Officer of Zapp. “We would like to thank the teams from CIIG II and SPAC Advisory Partners for their support and cooperation in making this possible. Our Nasdaq debut also reflects and honors the hard work and creative minds that have made Zapp one of the leading innovators in the electric two-wheeler market.”

Gavin Cuneo, CIIG II’s Co-Chief Executive Officer, commented, “We are excited to close our business combination with Zapp, which will help to scale the Company’s business plan. As the highly fragmented electric two-wheeler category continues growing rapidly, we believe Zapp’s exceptional team and distinctive product design will solidify the Company as a leader in electric two-wheeler mobility.”

Advisors
SPAC Advisory Partners, a division of Kingswood Capital Partners, served as exclusive financial advisor to Zapp. Latham & Watkins LLP served as legal advisor to Zapp. Weil Gotshal & Manges LLP and Orrick, Herrington & Sutcliffe LLP served as legal advisors to CIIG II. Gateway Group served as global investor relations and media relations advisor for North America. Influence Emobility served as global media relations advisor.

About CIIG II
CIIG Capital Partners II, Inc. initially was a Delaware special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. CIIG II’s units, Class A common stock and warrants previously traded on the Nasdaq Stock Market under the ticker symbols “CIIGU,” “CIIG,” and “CIIGW” respectively.

About Zapp
Zapp Electric Vehicles Limited is an electric motorcycle company run by a team of experts from the mobility industry. The i300 is the first in a suite of high-performance electric two-wheelers expected to come to market from Zapp. Zapp plans to 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 “Zappers,” who will provide at-home inspection, service and support throughout the vehicle ownership lifecycle.

Investor Relations Contact:

Gateway Investor Relations
Cody Slach, Ralf Esper
+1 (949) 574-3860
zapp@gatewayir.com

North America Media Relations Contact:

Gateway PR
Zach Kadletz
+1 (949) 574-3860
zapp@gatewayir.com

Global Media Relations Contact:

Influence Emobility
Lisa Palmer
+44 (0) 7956 710028
pr@zappev.com

Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of U.S. federal securities laws with respect to the Business Combination between Zapp, CIIG II and Pubco, including without limitation statements regarding the benefits of the transaction, the anticipated growth in the industry in which Zapp operates, the anticipated growth in demand for Zapp’s products, and projections of Zapp’s future operating results, financial position and liquidity. 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. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from the information expressed or implied by these forward-looking statements. 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 to differ materially from the forward-looking statements in this document, including but not limited to: (i) the effect of the consummation of the Business Combination on Zapp’s business relationships, performance, and business generally, (ii) the outcome of any legal proceedings that may be instituted against Zapp, CIIG II, Pubco and/or their respective directors or officers related to the Business Combination, (iii) the potential inability of Pubco or a successor thereto to maintain the listing of its securities on the Nasdaq Stock Market, (iv) volatility in the price of the securities of Pubco or a successor thereto due to a variety of factors, including changes in the competitive and highly regulated industries in which Zapp plans to operate, variations in performance across competitors, changes in laws and regulations affecting Zapp’s business, (v) changes in the capital structure of Pubco, (vi) Zapp’s ability to implement business plans, forecasts and other expectations as well as its ability to identify and realize additional business opportunities, (vii) the risk of downturns in the highly competitive electric vehicle industry, (xiii) the ability of Zapp to build the Zapp brand and consumers’ recognition, acceptance and adoption of the Zapp brand, (ix) the risk that Zapp may be unable to develop and manufacture electric vehicles of sufficient quality, on schedule and scale, that would appeal to a large customer base, (x) the risks associated with Zapp’s limited operating history, its not having released a commercially available electric vehicle yet, and its lack of experience manufacturing and selling a commercial product at scale, and (xi) the risk that Zapp may not be able to effectively manage its growth, including its design, research, development and maintenance capabilities.

The foregoing list of risk factors is not exhaustive. Forward-looking statements are not guarantees of future performance. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Pubco’s registration statement on Form F-4 and other documents filed by Pubco or a successor thereto from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. The forward-looking statements in this document represent the views of Pubco as of the date of this document. Subsequent events and developments may cause these views to change. Readers are cautioned not to put undue reliance on the forward-looking statements herein, all of which are qualified by these cautionary statements. Pubco 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. Pubco does not give any assurance that the combined company will achieve its expectations. The inclusion of any statement in this document does not constitute an admission by Pubco or any other person that the events or circumstances described in such statement are material.

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GlobeNewswire |
2023-04-13

Zapp’s i300 Carbon Wins Prestigious Red Dot Product Design Award

• High-performance urban electric two-wheeler selected by Red Dot’s international panel of expert jurors
  
• Builds further momentum after recognition of Zapp and the i300 at the German Design Award, Good Design Award, as well as Britain’s E-Mobility Awards
• Zapp’s debut product, the i300 Carbon Launch Edition high-performance electric two-wheeler, is being launched in Europe this year
• Media assets available here

LONDON, April 13, 2023 (GLOBE NEWSWIRE) -- Zapp Electric Vehicles Limited (“Zapp” or the “Company”), a UK-based, high-performance two-wheel electric vehicle company, has received yet another endorsement for its innovative i300 Carbon Launch Edition with a category win at the internationally renowned Red Dot Award for Product Design.

Every year, the Red Dot Award: Product Design sets out to find the year’s best products. The products selected by the Red Dot Jury to win an award may be aesthetically appealing, functional, smart or innovative, but what they all have in common is their outstanding design. The Red Dot Jury is made up of a global team of leading design experts.

Zapp’s Red Dot victory arrives shortly after the Company’s wins at the Good Design Award, the German Design Award, as well as a highly successful night at the E-Mobility awards, held at the British Motor Museum, where Zapp took home an unprecedented three category prizes, along with a further award of merit.

The Red Dot Award further reinforces the world-class design credentials of Zapp and its debut product, the i300 Carbon, which is now available to pre-order on Zapp’s website www.zappev.com.

Warin Thanathawee, Chief Design Officer, Zapp, said: “We are absolutely delighted to have won this prestigious Red Dot Award: Product Design. Zapp is very much a design-led company; quality and innovation are at the centre of all that we do, so to have our work recognised by Red Dot’s expert, international jury is a great honour.”

“For the i300, we’ve created a design that blends old and new, one that simultaneously draws inspiration from the history of two-wheeled transport, and looks towards an exciting, electrified future. We’ve created a totally new design language that conveys Zapp’s technological advancement and high-performance credentials, all through appealing forms that are simple yet elegant.”

Zapp is a British company 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.

To achieve this, Zapp’s design team created a unique and innovative ‘Z’-shaped exoskeleton architecture. This distinctive design lowers the i300’s weight and centre of gravity to deliver superb on-road performance and handling. The i300 is capable of accelerating from 0-30 mph in just 2.3 seconds and its unique configuration and exoskeleton architecture also meaningfully reduces weight, maximising efficiency and boosting battery range.

Another key innovation of the i300 is its ultra-portable double battery system. Each battery pack weighs just 6kg and can be charged from 20% to 80% via a standard 220v/110v wall socket in approximately 40 minutes. The portability of the battery packs makes the i300 easy to charge anywhere and at any time without reliance on a public charging network.

Zapp is committed to Gen-2 sustainable design and production and the i300 exemplifies Zapp’s mission to create truly sustainable products. Not only are most of the i300’s components recyclable, but its exoskeleton architecture lowers the number of components required for assembly, in turn reducing assembly steps and energy used.

Proposed Business Combination
On November 22, 2022, Zapp and CIIG Capital Partners II, Inc., a U.S. publicly-listed blank check company (Nasdaq: CIIG) (“CIIG II”), announced that they have entered into a definitive merger agreement (the “Merger Agreement”). Upon closing of the transaction contemplated by the Merger Agreement (the “Business Combination”), the combined company, Zapp Electric Vehicles Group Limited (“Pubco”), a Cayman Islands exempted company, is expected to list its ordinary shares on the Nasdaq Stock Market under the ticker symbol “ZAPP”. The Business Combination is expected to close in the first half of 2023, subject to stockholder approvals and other customary closing conditions.

About Zapp

Zapp Electric Vehicles Limited is a British company – run by a team of experts from the mobility industry – on a mission to redefine the electric two-wheeler segment. Zapp created the i300 as 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 expected to come to market from Zapp. Zapp is expected to operate a high-quality direct-to-customer (DTC) experience called DSDTC (drop-ship-direct-to-customer). Customers ordering the i300 online will have their bikes conveniently delivered to their home by “Zappers” who provide at-home inspection, service and support throughout the vehicle ownership lifecycle.

About CIIG Capital Partners II, Inc.

CIIG Capital Partners II, Inc. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. CIIG II’s units, Class A common stock and warrants trade on the Nasdaq Stock Market under the ticker symbols “CIIGU,” “CIIG,” and “CIIGW” respectively.

Investor Relations Contact:
Gateway Investor Relations
Cody Slach, Ralf Esper
(949) 574-3860
zapp@gatewayir.com

Global Media Relations Contact:

Influence
Lisa Palmer
+ 44 (0) 7956 710028
pr@zappev.com

North America Media Relations Contact:

Gateway PR
Zach Kadletz
(949) 574-3860
zapp@gatewayir.com

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of U.S. federal securities laws with respect to the proposed Business Combination between CIIG II, Zapp and Pubco, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the anticipated growth in the industry in which Zapp operates and anticipated growth in demand for Zapp’s products, projections of Zapp’s future financial results and possible growth opportunities for Zapp. 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. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Forward-looking statements 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 to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of CIIG II’s securities, (ii) the risk that the transaction may not be completed by CIIG II’s business combination deadline, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the Merger Agreement by the stockholders of CIIG II, (iv) the risk that CIIG II may not have sufficient funds to consummate the Business Combination, (v) the lack of a third party valuation in determining whether or not to pursue the proposed Business Combination, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vii) the effect of the announcement or pendency of the transaction on Zapp’s business relationships, performance, and business generally, (viii) risks that the proposed Business Combination disrupts current plans of Zapp or diverts management’s attention from Zapp’s ongoing business operations and potential difficulties in Zapp’s employee retention as a result of the proposed Business Combination, (ix) the outcome of any legal proceedings that may be instituted against Zapp, Pubco, CIIG II or their respective directors or officers related to the proposed Business Combination, (x) the ability of Pubco, CIIG II or a successor thereto to maintain the listing of its securities on The Nasdaq Stock Market LLC, (xi) volatility in the price of the securities of Pubco, CIIG II or a successor thereto due to a variety of factors, including changes in the competitive and highly regulated industries in which Zapp plans to operate, variations in performance across competitors, changes in laws and regulations affecting Zapp’s business and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed Business Combination, and identify and realize additional opportunities, (xiii) the risk of downturns in the highly competitive electric vehicle industry, (xiv) the ability of Zapp to build the Zapp brand and consumers’ recognition, acceptance and adoption of the Zapp brand, (xv) the risk that Zapp may be unable to develop and manufacture electric vehicles of sufficient quality and on schedule and scale, that would appeal to a large customer base, (xvi) the risk that Zapp has a limited operating history, has not yet released a commercially available electric vehicle and does not have experience manufacturing or selling a commercial product at scale and (xvii) the risk that Zapp may not be able to effectively manage its growth, including its design, research, development and maintenance capabilities. 

The foregoing list of risk factors is not exhaustive. Forward-looking statements are not guarantees of future performance. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Pubco’s registration statement on Form F-4 (as may be amended from time to time, the “Registration Statement”), CIIG II’s Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed by Pubco, CIIG II or a successor thereto from time to time with the U.S. Securities and Exchange Commission (“SEC”). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. The forward-looking statements in this press release represent the views of Zapp, Pubco and CIIG II as of the date of this press release. Subsequent events and developments may cause that view to change. Readers are cautioned not to put undue reliance on forward-looking statements, and all forward-looking statements in this press release are qualified by these cautionary statements. Zapp, Pubco and CIIG II assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. None of Zapp, Pubco nor CIIG II gives any assurance that Zapp, Pubco or CIIG II will achieve its expectations. The inclusion of any statement in this press release does not constitute an admission by Zapp, Pubco or CIIG II or any other person that the events or circumstances described in such statement are material.

Additional Information and Where to Find It

This document relates to the proposed Business Combination between CIIG II, Pubco and Zapp. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the U.S. Securities Act of 1933, as amended, 15 U.S.C. § 77a et seq. (“Securities Act”). In connection with the Business Combination, Pubco filed the Registration Statement on December 16, 2022, which included a preliminary proxy statement of CIIG II and a preliminary prospectus of Pubco. The SEC declared the Registration Statement effective on March 17, 2023, and CIIG II mailed a definitive proxy statement relating to the Business Combination to CIIG II’s stockholders. The Registration Statement, including the proxy statement/prospectus contained therein contains important information about the Business Combination and the other matters to be voted upon at a meeting of CIIG II’s stockholders to be held to approve the Business Combination (and related matters). Pubco and CIIG II may also file other documents with the SEC regarding the Business Combination. Before making any voting decision, CIIG II stockholders and other interested persons are urged to read the definitive proxy statement/prospectus, and other documents filed in connection with the Business Combination, as these materials will contain important information about Zapp, Pubco, CIIG II and the Business Combination.

Investors and security holders may obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by CIIG II through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by CIIG II may be obtained free of charge from CIIG II’s website at https://ciigpartners.com/ or by written request to CIIG II at 40 West 57th Street, 29^th Floor, New York, New York 10019.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Participants in the Solicitation

CIIG II, Pubco and Zapp and their respective directors and officers may be deemed to be participants in the solicitation of proxies from CIIG II’s stockholders in connection with the proposed Business Combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of CIIG II’s stockholders in connection with the proposed transactions is set forth in the proxy statement/prospectus. You can find more information about CIIG II’s directors and executive officers in CIIG II’s Annual Report on Form 10-K, filed with the SEC on February 14, 2023, and in the proxy statement/prospectus. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed Business Combination may be obtained by reading the proxy statement/prospectus regarding the proposed Business Combination. You may obtain free copies of these documents as described in the preceding section.

No Offer or Solicitation

This document is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security of Pubco, Zapp, CIIG II or any of their respective affiliates. No such offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act, or an exemption therefrom. The contents of this document have not been reviewed by any regulatory authority in any jurisdiction.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d20d3f34-048d-4e2d-a62c-8d3f5d46ee6d

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Superbike news |
2022-12-15

Zapp i300 Carbon wins ‘Excellent Product Design’ award at the 2023 German Design Awards

The Zapp i300 breaks new ground in both design and technology, combining the convenience and agility of a step-through form factor with a high-powered electric motor to offer performance motorcycle levels of acceleration.

To achieve this, Zapp’s design team created a unique and innovative ‘Z-shaped’ exoskeleton architecture. This distinctive design ensures the i300 is as lightweight as possible to maximise battery range and on-road performance, helping the i300 achieve a 0-30mph of just 2.3 seconds.

Another key innovation of the i300 is its ultra-portable double battery system. Each battery weighs only 6kg and can be charged from 20% to 80% via standard 220v/110v wall sockets in under 40 minutes. The portability of the battery packs makes the i300 easy to charge anywhere and at any time without reliance on a public charging network.

Zapp is committed to Gen-2 sustainable design and production and the i300 exemplifies Zapp’s mission to create truly sustainable products. Not only are most of the i300’s components recyclable, but its exoskeleton architecture lowers the number of components required for assembly, in turn reducing assembly steps and energy used.

The German Design Awards jury said: “The Zapp i300 Carbon… impresses with a striking design language that perfectly embodies the demand for lightness, dynamism, flexibility and progressive technology down to the last detail. The portable battery with a practical carrying handle is further evidence of the well thought-out and contemporary design concept.”

Swin Chatsuwan, founder and CEO of Zapp, said: “We are deeply proud of what we have achieved with the i300, so it’s an honour to have our hard work recognised by the German Design Awards. The i300 is unique in many ways, but especially in its design. It is our exoskeleton architecture that helped enable further breakthrough innovations, such as our ultra-portable double battery system, and helped ensure the i300 is highly sustainable.”

More info can be found here: https://zappev.com/

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