Zapp EV achieves required regulatory approval to enable first deliveries to UK customers

First deliveries are expected in August 2024 before a broader rollout, including in India and other countries in Europe and Southeast Asia.

LONDON, July 15, 2024 (GLOBE NEWSWIRE) — Zapp Electric Vehicles Group Limited (Nasdaq: ZAPP) (“Zapp EV” or the “Company”), owner of “Zapp”, a British electric vehicle brand with a mission to revolutionize personal urban mobility, today announced that the first units of its i300 urban motorcycle have received single motorcycle homologation from the Driver and Vehicle Standards Agency in the United Kingdom. Following this homologation, the i300 can be used on public roads in the United Kingdom, paving the way for sales of the i300 to the first Zapp customers. Zapp expects first deliveries to occur in August 2024, ahead of a wider rollout in Europe and Asia in the following months.

Swin Chatsuwan, Founder and CEO of Zapp EVsaid: “This approval for the first i300s to be delivered to customers in the UK further confirms our commitment to quality and bespoke engineering and design. We look forward to making the first deliveries to customers, which will also demonstrate our convenient drop-ship-direct-to-customer fulfilment through Zappers from our branded Zapper vans. Our business model is set up to enable Zapp to grow rapidly and these first sales will be another important milestone on the road to wider European launch, while also working towards homologation in India, Thailand and other South East Asian countries.”

About Zapp EV

Zapp EV (Nasdaq: ZAPP) and its subsidiaries are led by a team of mobility industry experts whose mission is to redefine the electric two-wheeler segment. Zapp’s debut product, the i300, is a high-performance urban electric two-wheeler that can achieve the performance of traditional motorcycles in a low-riding format, combining ease of use with excitement and fun. The i300 is the first in a series of high-performance electric two-wheelers that Zapp plans to introduce to the market. Zapp will offer a premium drop-ship-direct-to-customer (DSDTC) service. Customers who order the i300 online will have their bike conveniently delivered to their home by authorized “Zappers” who will provide inspection, service and in-home support throughout the vehicle’s 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 Department Contact:

Mark Kobal
Head of Investor Relations
[email protected]

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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 are generally identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “budget,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “would,” “will continue,” “will likely result in” 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 are therefore subject to risks and uncertainties. Many factors could cause actual future events or results to differ materially from those expressed or implied by the forward-looking statements contained herein. These include, among others, various general and specific risks and uncertainties relating to the Company’s business and finances generally.

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 or furnishes to the U.S. Securities and Exchange Commission from time to time. These documents identify and address important risks and uncertainties that could cause actual events and results to differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements represent the Company’s views as of the date hereof. Subsequent events and developments could cause these views to change. Readers are cautioned not to place undue reliance on these forward-looking statements, all of which are qualified by the cautionary statements above. Except as required by applicable law, Zapp disclaims any obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Zapp makes no representations that it will achieve its expectations. The inclusion of any statement herein does not constitute an admission by Zapp or any other person that the events or circumstances described in such statements are material.