Beyond Commerce Signs Binding LOI with Elettricars

Rhea-AI Summary

Beyond Commerce has secured exclusive U.S. rights to the low-speed electric vehicle (LSEV) from Eletticars, an Italian automotive firm. The agreement marks a significant entry into the growing LSEV market, projected to reach $1.0 billion by 2021 in the U.S., with a global growth forecast of 15.4% annually through 2026. Beyond Commerce aims to capitalize on the rising demand for electric vehicles, driven by advancements in technology and regulatory pressures.

Positive

• Exclusive U.S. rights to Eletticars' LSEV enhance market positioning.
• LSEV market expected to grow significantly, reaching $4.9 billion globally by 2026.
• Strategic partnership with an established Italian automotive player supports entry into a high-growth sector.

Negative

• None.

Attains Exclusive U.S. Rights to Low-Speed Electric Vehicle

LAS VEGAS, NV / ACCESSWIRE / December 2, 2021 / Beyond Commerce, Inc. (OTC PINK:BYOC) (the "Company"), a provider of B2B internet marketing analytics, technologies and services, is pleased to announce it has executed a binding Letter of Intent ("LOI") with Eletticars (of Italy) to attain the exclusive U.S. rights to its low-speed electric vehicle ("LSEV").

Italian Design. Automotive Expertise. Relentless Passion

Elettricars was born in Monza and was founded by the Abrami Family, owners of Car Studio. This internationally acclaimed engineering and design company, headquartered in Italy, with over thirty years of automotive know-how, has excelled in prestigious Italian design, quality and innovation. The main U.S. office is in Metro Detroit with other offices Chicago and San Diego.

Eletticars is focused on manufacturing and commercializing a low-speed electric vehicle ("LSEV"), a 4-wheeled motor vehicle, not an ATV, with a top speed of 25 mph and weighs less than 3,000 lbs.

Geordan Pursglove, Beyond Commerce's Chief Executive Officer, stated, "We are thrilled to attain the exclusive U.S. rights for Eletticars' LSEV. It's design and functionality are both high-quality, thanks to the years of automotive experience of the Abrami family and Italian craftsmanship. The practicality of LSEVs has increased forecasts to reach $1.0 billion in 2021. The Global LSEV category is estimated to grow +15.4% per year through 2026 to reach $4.9 billion and surpassing $2.0 billion in U.S. sales. More global charging infrastructure, declining EV costs, improved vehicle and battery technology and stringent emissions regulations are driving LSEV growth. We are so excited to now be part of this high-growth emerging industry with our partnership with Eletticars."

Andrea Abrami, President of Elettricars, stated, "We are excited to affiliate with Beyond Commerce and believe they are an ideal partner for our U.S. roll-out. My family founded Elettricars with over thirty years of automotive experience in Italy and is looking forward to our entrance in the U.S., now through Beyond Commerce."

For additional information on Eletticars, please visit: https://elettricars.com.

About Beyond Commerce,Inc.

Beyond Commerce, Inc. (OTC Pink:BYOC) is focused on business combinations of "big data" companies in global B2B internet marketing analytics, technologies and services. The Company's objective is to develop and deploy disruptive strategic software technology that will build on organic growth potential and to exploit cross-selling opportunities. Beyond Commerce plans to offer a cohesive global digital product and services platform to provide clients with a single point of contact for their big data, marketing and related sales initiatives. For additional information, please visit: https://beyondcommerceinc.com and https://www.service800.com.

Twitter: @incbyoc
Facebook: fb.me/incbyoc

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are subject to the "safe harbor" created by those sections for such statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate," "believe," "could," "design," "estimate," "except," "forecast," "goal," "intend," "look forward to," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would," or the negatives or other tense of such terms and other similar expressions intended to identify forward-looking statements and similar expressions. We use forward-looking statements relate to future events or future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels or activity, performance or achievements expressed or implied by these forward-looking statements.

Contact Information:
investors@beyondcommerceinc.com
p702-675-8022

ClearThink
nyc@clearthink.capital

SOURCE: Beyond Commerce, Inc.

View source version on accesswire.com:
https://www.accesswire.com/675616/Beyond-Commerce-Signs-Binding-LOI-with-Elettricars

FAQ

What are the benefits of Beyond Commerce's exclusive rights to the LSEV?

The exclusive rights allow Beyond Commerce to tap into a growing market projected to reach $1.0 billion in U.S. sales, providing a competitive edge.

How large is the global LSEV market expected to grow?

The global LSEV market is estimated to grow at a rate of 15.4% per year, reaching approximately $4.9 billion by 2026.

When was the agreement with Eletticars announced?

The agreement was announced on December 2, 2021.

What is the top speed of the low-speed electric vehicle offered by Eletticars?

The Eletticars' LSEV has a top speed of 25 mph.

What is the stock symbol for Beyond Commerce?

Beyond Commerce is traded under the stock symbol BYOC.