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Electrifying Icons: How This Company Is Using Brand Equity To Get Ahead Of The Pack

EQS-News: EV Technology Group Electrifying Icons: How This Company Is Using Brand Equity To Get Ahead Of The Pack 21.09.2022 / 14:00 CET/CEST The issuer is solely responsible for the content of this announcement. In one of Top Gear’s best-performing episodes, host Jeremy Clarkson laments the downsides of electric vehicles. His biggest criticism? Electric cars just aren’t as fun as conventional gas-fueled vehicles.

And while the electric vehicle (EV) field has expanded exponentially in the eight years since the episode was dropped, some of Clarkson’s critiques remain relevant.

Much of the EV market is saturated with futuristic-looking designs that feature almost identical engine technology. Most people are not familiar with these brands and the market doesn’t seem particularly enamored by the futuristic designs on offer. Car fanatics still gravitate toward classic designs that ooze seduction. And so, EV adoption is slower than some hoped, and many companies trying to pave the way are seeing varied results.

EV Technology Group Ltd. (NEO: EVTG) (OTCQB: EVTGF) (EV Technology Group or the Company) is entering the market with a different strategy. It isn’t looking to build a car that looks like it belongs in 2050; instead, it is looking to iconic brands that want a ticket to the electric future. The Company’s vision is to champion the joy of motoring and clearly understand that customers’ attachment to existing brands does not hinder electrification. EV Technology Group’s strategy is built around the concept of acquiring the brand equity of beloved brands and working with the brand to electrify existing models.

The Power Of Sleeping Beauties

EV Technology Group’s strategy has drawn inspiration from Louis Vuitton CEO Bernard Arnault. Arnault would acquire what he called “sleeping beauty” brands like Dior and catapult them into a new era of success. Instead of creating a whole new brand that customers were unfamiliar with and unattached to, Arnault banked on the customer’s existing love and loyalty to the brand. LVMH has seen wild and continued success from this model.