Inzile is facing great interest in the Pro4 electric truck and follow-up orders from Bring, Picsmart and Tier Mobility have recently been received. Inzile therefore sees good opportunities for growth in 2021. To enable the growth and continued development of vehicles, development of services and increasing of production capacity, the company will need expansion capital. Inzile has therefore engaged Carnegie Investment Bank as financial advisor to review the company’s capital structure and evaluate various strategic initiatives.

Inzile’s electric truck Pro4 has now also been approved according to the latest version of the EMC * regulations. The requirements are extensive and their fulfillment is an important part of the work towards EU certification. The company’s ambition is that the EU approval and certification will be in place during the second half of 2021. As a first step in the international expansion, Inzile plans to establish sales companies in Denmark and Norway during the first quarter of 2021, which does not require EU certification.

Inzile Pro4 is an electric light truck that has been developed with the aim of creating conditions for smart and fossil-free cities. Electric Utility Vehicle (EUV) is a niche segment in the automotive industry that is expected to grow rapidly in the coming years. The customer groups include real estate companies, transport companies and e-retailers that want to eliminate emissions in the cities, as well as municipalities and park administrations.

* EMC = electromagnetic compatibility

For further information, please contact:

Ragnar Åhgren, CEO Inzile, ragnar.ahgren@inzile.com, +46 73 356 89 89

Peter Wergens, CFO Inzile, peter.wergens@inzile.com, +46 73 325 75 04