BOSTON, MA / ACCESSWIRE / November 15, 2022 / ev Transportation Services Inc. ("evTS"), an electric vehicle manufacturer focused on the essential services and urban e-mobility markets, today announced it has launched a U.K. based subsidiary and began regulatory approval efforts as part of a cooperative agreement to manufacture and distribute its pure-electric FireFly®ESV vehicles in the United Kingdom ("U.K.") in conjunction with The Evtec Group ("Evtec", a
U.K.-based electric vehicle technology group.
ev Transportation Services UK Limited ("evTS U.K.") was formed to manufacture, distribute and service its pure-electric light weight commercial utility vehicles in the U.K. and throughout Europe, starting with the FireFly ESV. This agreement is further to an earlier announcement outlining plans to assemble and sell up to 5,000 FireFly vehicles over the next 3 years in the U.K. and markets in Western Europe in conjunction with Evtec.
Evtec will collaborate with evTS U.K. to support its sales, marketing, service, and manufacturing operations in both the U.K. and Western Europe, leveraging its local market knowledge, OEM sourcing relationships, prospective customer relationships and government affairs support to help ensure the success of the FireFly ESV in Europe. To that end, evTS U.K. is already working with Evtec strategic partner Sprint Power to determine and secure all U.K. regulatory approvals needed to manufacture and operate the Firefly for U.K. roads.
Evtec Group Chairman David Roberts said: "This is an exciting development for our business. The innovative FireFly is going to play an important role in the increasing zero-emission rapid response utility vehicle and last-mile delivery sector. We are thrilled to partner with evTS to bring it to the U.K. The opportunity to boost automotive manufacturing jobs to Coventry is equally exciting, and we are looking forward to working alongside the team at evTS to drive their success in the European market."
Keith Stanton, Evtec Group CEO and Former Aston Martin Executive, added: "Evtec, leveraging its supply chain and manufacturing expertise, is incredibly well positioned to grow alongside evTS in what is an incredibly exciting market. Electric vehicles are undoubtedly the future in the U.K. and Evtec is pleased to play its part in the energy transition, making cities across Europe cleaner and quieter than ever before. We look forward to the completion of regulatory approval efforts in the U.K. so that we can finalize preparations for our European manufacturing and commercialization efforts."
David Solomont, Chairman and CEO of evTS, added: "I am confident that, in partnership with the Evtec Group, we are poised for significant potential success in the European market. By leveraging Evtec's legacy of automotive manufacturing leadership, we significantly derisk our manufacturing, sales, and service efforts in what has the potential to be a significant market for evTS. I look forward to continuing operational execution in the months ahead as we strive to forge exciting new revenue streams for our company."
About evTS
ev Transportation Services Inc. ("evTS") is a specialty vehicle manufacturer that produces purpose-built, Pure-Electric lightweight commercial utility vehicles and provides fleet management solutions. Founded in 2015, the Boston-based company's flagship product, the FireFly ESV is aimed at the essential services transportation and urban e-mobility markets, which represent an annual domestic replacement market of approximately 185,000 vehicles, or roughly $7 billion annually. End user applications for the Company's vehicles include parking management, security and perimeter patrol, parks and sidewalk maintenance, utility meter reading, property and building management, airports, seaports, sanitation, university and corporate campuses, and last mile on-demand urban delivery. For more information, visit the Company's website at www.evTS.com.
About Evtec Group
Evtec is a U.K.-based group, that focuses on every aspect of the electric vehicle supply chain and the end-to-end lifecycle of EVs. Its mission is to source, make, deliver, and then sustainably dispose of all EV technologies, driving social change and the adoption of zero-emission vehicles.
The Evtec Group founded by leading entrepreneur David Roberts. It seeks to generate attractive long-term returns within the manufacturing sector and is building an impressive portfolio of private companies, and strategic partners, that complement each other to provide the market with superior products and services. Evtec's objective is to push the boundaries of manufacturing excellence through investing in promising companies, clever technology, and market leading practices.
Forward-Looking Statements
This release contains 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Investor Relations Contact
Lucas Zimmerman
Director
MZ Group - MZ North America
949-259-4987
investors@evTS.com
www.mzgroup.us
Company Contact
Paul Barrett
VP of Marketing and Product
ev Transportation Services, Inc.
Boston, Massachusetts
202.347.3359 x106 Office
media@evTS.com
www.evTS.com
Evtec Automotive
Coventry, England
+44 7778 857 870
media@evtecautomotive.com
SOURCE: ev Transportation Services, Inc.
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