Zapp EV Appoints AIH Group to Deliver New Manufacturing Reference Site following First Sales of i300 in Thailand
Zapp Electric Vehicles Group (Nasdaq: ZAPP) has announced a turnkey engineering, procurement and construction (EPC) agreement with AIH Group to deliver a low-cost manufacturing reference site in the Bangkok Free Trade Zone. This facility, expected to be completed by early 2025, will showcase Zapp's flexible manufacturing and Gen-2 sustainable assembly innovations. The site will have an annualized production capacity of up to 20,000 units and serve as a template for future global expansion.
The agreement follows Zapp's first sales of the i300 in Thailand. The new facility aims to benefit both domestic sales and exports, while supporting Zapp's planned drop-ship-direct-to-customer model. AIH Group, with experience working with major automotive OEMs, will contribute its expertise to accelerate Zapp's business plan and goals.
Zapp Electric Vehicles Group (Nasdaq: ZAPP) ha annunciato un accordo di ingegneria, approvvigionamento e costruzione (EPC) chiavi in mano con AIH Group per realizzare un sito di riferimento per la produzione a basso costo nella Zona di Libero Scambio di Bangkok. Questa struttura, prevista per essere completata entro inizio 2025, metterà in mostra le innovazioni nella produzione flessibile e nell'assemblaggio sostenibile di Gen-2 di Zapp. Il sito avrà una capacità produttiva annuale di fino a 20.000 unità e servirà come modello per l'espansione globale futura.
L'accordo segue le prime vendite di Zapp delli300 in Thailandia. La nuova struttura mira a beneficiare sia le vendite domestiche che le esportazioni, supportando nel contempo il modello di consegna diretta ai clienti previsto da Zapp. AIH Group, con esperienza nel lavoro con i principali produttori di veicoli OEM, contribuirà con la sua expertise per accelerare il piano e gli obiettivi aziendali di Zapp.
El Grupo de Vehículos Eléctricos Zapp (Nasdaq: ZAPP) ha anunciado un acuerdo llave en mano de ingeniería, aprovisionamiento y construcción (EPC) con AIH Group para entregar un sitio de referencia de fabricación de bajo costo en la Zona de Libre Comercio de Bangkok. Esta instalación, que se espera esté terminada para principios de 2025, mostrará las innovaciones en fabricación flexible y ensamblaje sostenible Gen-2 de Zapp. El sito tendrá una capacidad de producción anual de hasta 20.000 unidades y servirá como plantilla para la expansión global futura.
El acuerdo sigue a las primeras ventas de Zapp del i300 en Tailandia. La nueva instalación busca beneficiar tanto las ventas nacionales como las exportaciones, mientras apoya el modelo de envío directo al cliente que Zapp tiene planeado. AIH Group, con experiencia en trabajar con los principales fabricantes de automóviles OEM, contribuirá con su experiencia para acelerar el plan y los objetivos comerciales de Zapp.
자프 전기차 그룹(Nasdaq: ZAPP)은 AIH 그룹과의 턴키 엔지니어링, 조달 및 건설(EPC) 계약을 발표하여 방콕 자유무역지대에 저비용 제조 기준 사이트를 구축할 예정입니다. 이 시설은 2025년 초까지 완공될 예정이며, 자프의 유연한 제조 및 Gen-2 지속 가능한 조립 혁신을 선보일 것입니다. 이 사이트는 연간 최대 20,000대 생산 능력을 갖추고 있으며, 향후 글로벌 확장을 위한 템플릿으로 활용될 것입니다.
이번 계약은 자프가 태국에서 i300의 초기 판매를 진행한 이후 체결되었습니다. 새로운 시설은 국내 판매와 수출 모두에 이점을 제공하며, 자프의 고객 직접 배송 모델을 지원하는 것을 목표로 합니다. 주요 자동차 OEM과 협력한 경험이 있는 AIH 그룹은 자프의 사업 계획 및 목표를 가속화하기 위해 전문성을 기여할 것입니다.
Le Groupe Zapp de véhicules électriques (Nasdaq: ZAPP) a annoncé un accord de gestion de projet clé en main pour l'ingénierie, l'approvisionnement et la construction (EPC) avec le Groupe AIH afin de fournir un site de référence de fabrication à faible coût dans la zone de libre-échange de Bangkok. Cette installation, qui devrait être achevée d'ici début 2025, mettra en avant les innovations en matière de fabrication flexible et d'assemblage durable Gen-2 de Zapp. Le site aura une capacité de production annuelle de jusqu'à 20 000 unités et servira de modèle pour l'expansion mondiale future.
L'accord fait suite aux premières ventes de Zapp du i300 en Thaïlande. La nouvelle installation vise à bénéficier à la fois des ventes nationales et des exportations, tout en soutenant le modèle de livraison directe aux clients prévu par Zapp. Le Groupe AIH, fort de son expérience avec de grands fabricants automobiles OEM, contribuera à accélérer le plan d'affaires et les objectifs de Zapp.
Die Zapp Electric Vehicles Group (Nasdaq: ZAPP) hat eine schlüsselfertige Vereinbarung zur Ingenieur-, Beschaffungs- und Bauausführung (EPC) mit der AIH Group bekannt gegeben, um einen kostengünstigen Herstellungs-Referenzstandort in der Bangkok Freihandelszone zu errichten. Diese Einrichtung, die bis Anfang 2025 fertiggestellt sein soll, wird die flexiblen Fertigungs- und Gen-2-nachhaltigen Montageinnovationen von Zapp präsentieren. Der Standort wird eine jährliche Produktionskapazität von bis zu 20.000 Einheiten haben und als Vorlage für die zukünftige globale Expansion dienen.
Die Vereinbarung folgt den ersten Verkäufen von Zapp des i300 in Thailand. Die neue Einrichtung zielt darauf ab, sowohl den Inlandsverkauf als auch die Exporte zu fördern, während sie das geplante Direktversand-Modell von Zapp unterstützt. Die AIH Group, die über Erfahrung in der Zusammenarbeit mit großen Automobil-OEMs verfügt, wird ihr Fachwissen einbringen, um den Geschäftsplan und die Ziele von Zapp zu beschleunigen.
- Expansion into Thailand market with first i300 sales
- New low-cost manufacturing facility with 20,000 units annual capacity
- Partnership with experienced AIH Group for facility development
- Potential for global expansion using the reference site as a template
- Reduced transit time between assembly and customer delivery
- Significant investment required for new manufacturing facility
- Potential risks associated with international expansion
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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