EQS-News

First MOKE Now Fablink — EV Technology Group Is Redefining EV Production And Strategy

EQS-News: EV Technology Group First MOKE Now Fablink — EV Technology Group Is Redefining EV Production And Strategy 05.10.2022 / 14:00 CET/CEST The issuer is solely responsible for the content of this announcement. EV Technology Group Ltd. (NEO: EVTG) (OTCQB: EVTGF) (EV Technology Group or the Company) is a new company entering the electric vehicle (EV) production race, but with a promisingly different strategy.

Unlike many companies like Rivian Automotive Inc. (NASDAQ: RIVN) that are focused on creating futuristic designs and models, EV Technology Group’s strategy is to electrify already iconic brands.

EV Technology Group draws inspiration from Louis Vuitton CEO Bernard Arnault. Arnault would acquire what he called “sleeping beauty” brands like Christian Dior and catapult them into a new era of success. Arnault’s inspiration has already helped drive proven success for EV Technology Group.

In July, the Company entered a definitive agreement with the shareholders of MOKE International Ltd. to acquire up to 100% of the company and helped introduce the Electric MOKE to the market. Since partnering with MOKE International, EV Technology Group has created the Electric MOKE, showed it at the Cannes Film Festival and most recently distributed it at luxury department store Le Bon Marche Rive Gauche in Paris, and at its flagship retail store named Casa MOKE in Saint-Tropez, France.

Consumers resonate with purchasing a brand they are familiar with. The 1960s-era MOKE vehicle has global recognition from the likes of James Bond movies to countless celebrities and is the perfect demonstration that consumers are interested in the electrification of brands they already know and love.

However, knowing which brands to partner with and acquire does not guarantee continued success in an industry struggling with delivering electric vehicles on time due to global supply chain entanglements such as those caused by the pandemic.

The automotive industry across the board is struggling to deliver the vehicles people are purchasing - problems with components are preventing customers from receiving the vehicles they want, when they expect to receive them.