Charging Robotics: Revoltz to Launch Innovative Three-Wheel E-Cargo Bike for European and UK Markets

Rhea-AI Summary

Charging Robotics (OTC: CHEV) announced that its affiliate, Revoltz (19.9% owned by Charging Robotics), is developing a new three-wheel e-cargo bike for European and UK markets. The bike features:

• Enhanced stability and increased payload capacity
• Advanced full-tilting suspension system
• Compliance with European and UK regulations
• Pedal and electric motor combination for eco-friendly transportation
• Versatile configurations for various transportation needs

Revoltz expects the first prototype within three months and aims for commercialization in early 2025. The European e-cargo bike market is projected to grow from $1.05 billion in 2024 to $1.60 billion by 2029, indicating strong demand for sustainable urban transport solutions.

Positive

• Development of innovative three-wheel e-cargo bike for European and UK markets
• Potential market growth with European e-cargo bike market projected to reach $1.60 billion by 2029
• Anticipated commercialization of the new product by early 2025
• Alignment with growing demand for sustainable urban transportation solutions

Negative

• Charging Robotics only owns 19.9% of Revoltz , limiting potential revenue impact
• Prototype not yet ready, with at least three months until completion
• Commercialization not expected until early 2025, indicating a long wait for potential revenue

Tel Aviv, Israel, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Charging Robotics Inc. (OTC: CHEV), announced today that its affiliate, Revoltz Ltd. (of which Charging Robotics owns 19.9%), has developed a new, three-wheel, e-cargo bike tailored for the English and European markets. Building on the success of Revoltz’s PORTO micro EV, this new vehicle is designed to offer enhanced stability, increased payload capacity, and high-caliber safety features, making it fitting for urban transportation and commercial applications.

Revoltz has integrated its advanced full-tilting suspension system, also implemented in the PORTO, into this new three-wheel e-cargo bike, ensuring a smooth and balanced ride, even with bulky loads. This product aligns with European and UK regulations and aims to address various urban transportation challenges in the respective urban areas.

The three-wheel design enhances stability and maneuverability, particularly when carrying heavy loads. Equipped with pedals and an electric motor, the e-cargo bike combines manual and assisted pedaling for an efficient and eco-friendly ride. Its larger cargo area and higher payload capacity make it perfect for transporting goods, groceries, parcels, and larger items. The added stability makes the bike accessible for novice riders or those less confident in cycling, while the improved safety features, such as a lower center of gravity, enhance safety both in traffic and on uneven terrain. The bike's versatile configurations, including front-loaders, rear-loaders, and side-loaders, allow customization by individual rider for different transportation needs. As an eco-friendly alternative to motor vehicles, the bike helps reduce emissions and promote sustainable transportation, making it fitting for urban delivery service industry workers.

The European e-cargo bike market is projected to grow significantly, with an estimated market size of $1.05 billion in 2024, which is expected to reach $1.60 billion by 2029. This growth underscores the increasing demand for sustainable urban transportation solutions.

Revoltz expects the first prototype to be ready within the next three months, with commercialization anticipated for early 2025.

Amir Zaid, CEO of Revoltz, shared, “We are thrilled to introduce our new three-wheel, e-cargo bike to the European and UK markets. This innovative product reflects our commitment to enhancing urban mobility with sustainable, efficient, and user-friendly solutions. We believe this bike will set new standards in urban transportation and support the growing demand for eco-friendly delivery and personal transport options."

About Charging Robotics

Charging Robotics is developing various automatic wireless charging solutions such as robotic and stationary charging systems for EVs. Robotic solutions are intended to offer the driver the ability to initiate charging by use of a simple smartphone app that instructs an autonomous robot, which navigates under the EV for access and charging capabilities. Our stationary systems offer various charging solutions, including in automatic car parks where the company’s system allowing EVs to charge in places where drivers can’t connect plugs to sockets. For further information, visit: https://www.chargingrobotics.com/

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on the current expectations of Charging Robotics, and its subsidiary Charging Robotics Ltd. (together, the “Company”), they are subject to various risks and uncertainties, and actual results, performance or achievements of the Company could differ materially from those described in or implied by the statements in this press release. For example, the Company uses forward looking statements when providing timeframe for prototype launch and commercialization thereof.

The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed in any filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of any third-party websites.

Investor Relations Contact:

Michal Efraty
Investor Relations
michal@efraty.com 

FAQ

What is the new product Revoltz is developing for Charging Robotics (CHEV)?

Revoltz is developing a new three-wheel e-cargo bike tailored for the European and UK markets, featuring enhanced stability, increased payload capacity, and advanced safety features.

When is the expected launch date for Revoltz's new e-cargo bike (CHEV)?

Revoltz expects to have the first prototype ready within three months and aims for commercialization of the new e-cargo bike in early 2025.

What is the projected market size for e-cargo bikes in Europe by 2029 (CHEV)?

The European e-cargo bike market is projected to grow from $1.05 billion in 2024 to $1.60 billion by 2029, indicating significant growth potential for Charging Robotics (CHEV) and Revoltz's new product.

What percentage of Revoltz does Charging Robotics (CHEV) own?

Charging Robotics (CHEV) owns 19.9% of Revoltz , the company developing the new three-wheel e-cargo bike.