Within its Strategic Plan, Inzile has decided to focus all its efforts on the Electric Vehicle Inzile (EVI), while recognizing the excellent work of the Inzile R&D department in Tranås, Sweden with the collaboration of leading technology partners, such as the Swedish T-Engineering, part of Dongfeng Motor Corporation, and other international companies.

Now, Inzile, through its subsidiary EVI Mobility (former QEV Tech Holding, 80% owned by Inzile) will complete the EVI platform project with the collaboration of QEV Technologies (Barcelona) for the future homologation of the vehicle for Europe, as well as with DIADA, an engineering company providing design, testing, engineering and homologation services to the automotive industry.

EVI Mobility will acquire the EVI (IP) platform from Inzile at the cost of R&D carried out in the project with an industrial margin, with the former bearing the new costs. Additionally, the country license fee is shared with Inzile for each country license commercialized to allow Inzile an income.

Three main lines of the EVI Mobility Strategic Plan

1. EVI Mobility Smart Factories

EVI Mobility will carry out the new assembly of EVI in Spain, both for cost efficiency (suppliers, logistics, markets, etc.) and to have access to existing lines of subsidies and aid, like those proposed to the Hub of Mobility led by QEV Technologies (EUR 105 million in R&D programs). Inzile’s factory in Västervik will continue producing the Pro4s.

Likewise, EVI Mobility plans to create subsidiaries in different countries for the installation of Smart Factories, with a production capacity between 1,000 and 5,000 EVIs per year/country, together with local partners whom through a license, will acquire a stake in the local company and provide the necessary financial and commercial resources.

Inzile will act as a holding company, controlling all processes and markets, concentrating its activity, teams, and work centers to Stockholm, Sweden.

Inzile has the support of its main shareholder, QEV Electromobility, owner of the other 20% of EVI Mobility. QEV Electromobility will help with its international experience and network to attract local partners.

In order to execute the entire plan, Inzile has decided to focus all its resources and equipment solely on the EVI program and not carry out other activities, such as eFashion cars, which would require dedication, resources and financial guarantees that Inzile does not currently have.

2. EVI Mobility Nasdaq US

Inzile has decided to initiate the procedures for the listing on the Nasdaq US market of its subsidiary EVI Mobility, counting with the help of the American partner Mr. Chris Calise, who has expressed his intention to participate in the capital raising process of Inzile and has accepted Inzile’s proposal to hold the position of CEO in the new American structure, and lead the operation together with the CEO of Inzile, Mr. Juan Carlos Del Río.

Mr. Chris Calise has extensive experience in the American financial and securities market with a vast track record in issuing SPACs and managing insurance companies.

The possibility of distributing an extraordinary dividend of future listed shares of EVI Mobility among Inzile shareholders is being studied for the listing. Inzile will continue to be listed on Nasdaq First North Growth Market in Stockholm, and will continue as the Parent company of the entire group.

3. Inzile Listed Share

The majority shareholder of Inzile, QEV Electromobility, and the rest of the strategic shareholders, confirm their commitment to support Inzile in developing its strategic plan.

For further information, please contact:

Juan Carlos Del Rio, CEO Inzile, jcr@inzile.com, +46 76 138 48 82

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