B2B-News | Source: press release Zapp | Zapp Electric Vehicles Group Limited, the company behind the innovative British electric vehicle brand “Zapp” focused on transforming personal urban transportation, has announced their agreement with an affiliate of Yorkville Advisors Global, for a standby equity purchase arrangement (SEPA). The funds raised from this deal will primarily support the production and launch of the i300, Zapp’s high-performance electric motorcycle designed for city use. The company plans to begin delivering the i300 in Europe within the coming months, followed by a commercial release in Asian markets towards the end of 2024.

Swin Chatsuwan, Founder and Chief Executive Officer of Zapp EV, said: “Our design and engineering teams have delivered an exceptional product. With this vote of confidence from a renowned investor, we have the financial resources for the expected rollout of i300s this year.”

Chatsuwan continued: “Consumer appeal is a key differentiator in this space, and we think the i300’s eight-time award winning design, high-performance specifications, and sustainability, all at an affordable price, give Zapp the key ingredients for success. We aim to achieve a positive gross margin from the start of an anticipated ramp-up in customer deliveries. Zapp needs very little capital by industry standards to achieve our goals due to our balance sheet light business model leveraging contract manufacturing. We look forward to the first i300 deliveries in Europe, receipt of European Community Whole Vehicle Type Approval now that all requisite vehicle tests have been successfully completed, and capitalising on this progress to expedite our commercial rollout across key Asian markets.”

Zapp Electric Vehicles Group Limited is confident that the demand for electric two-wheelers will significantly increase in the coming years, particularly in developing nations. One of the main advantages and unique features of Zapp’s i300 release is its freedom from needing specialized charging infrastructure, as its portable lightweight batteries can be easily charged at any standard wall outlet. The Company is certain that once production begins, their efficient asset-light business model utilizing contract manufacturing and financing through the Export Import Bank of Thailand will allow for rapid expansion of their operations.