The co-founder of AUTO1, Mr. Hakan Koc, invests in QEV Tech Holdings (“QEV Holdings”).

As previously announced, Inzile AB (publ) (“Inzile”) has entered a conditional agreement to acquire 80% of QEV Holdings and the acquisition is subject to approval by the shareholders of Inzile at a coming Extra General Meeting (“EGM”).

A purpose of the acquisition is to get access to the network of contacts by QEV Holdings in among others the automotive sector such as access to investors, sales channels and expertise production of vehicles.

QEV Holdings has now informed Inzile that Mr. Hakan Koc, the co-founder and one of the largest shareholders of AUTO1, has invested in QEV Holdings. AUTO1 is a German automotive company listed on the DAX exchange with a market capitalization of more than EUR 8 billion. The investment is based on the mutual vision of Inzile and QEV Holdings and the agreement between Mr. Hakan Koc and QEV Holdings stipulates that Mr. Hakan Koc will exchange shares in QEV Holdings with shares in Inzile as soon as the acquisition between Inzile and QEV Holdings has been approved by the shareholders at the coming EGM.

Mr. Hakan Koc has stated that he will be able to help Inzile in its globalization process. AUTO1 offers a quick and easy way for consumers and professional car dealers across Continental Europe to sell and buy used cars through their established platforms. They offer the largest selection of used cars in more than 30 countries, across more than 80 brands and at all price points. In 2020, AUTO1 Group sold over 450,000 vehicles via their websites and apps.

It is a company led by founders and with longstanding industry experience and proven ability to scale, says Ragnar Åhgren, main owner and Chairman of Inzile.

For further information, please contact:

Ragnar Åhgren, Chairman of the Board of Inzile, ragnar.ahgren@inzile.com, +46 73 356 89 89