Fuel Doctor

Revoltz Initiates on $2.7 Million Exclusive Distribution Agreement with First Batch Production of 50 PORTO Micro-Mobility EVs

Following production completion, Revoltz sets up for delivery in accordance with its distribution agreement, aiming to sell 150 vehicles in the first year of the agreement

Tel Aviv, Israel, March 27, 2024 (GLOBE NEWSWIRE) -- Fuel Doctor Holdings, Inc. (OTC: FDOC), a Delaware corporation (“Fuel Doctor”), announced today that Revoltz Ltd. (“Revoltz”) which is 19.9% held by Charging Robotics Ltd., Fuel Doctor’s wholly-owned subsidiary (“Charging Robotics” and together with Fuel Doctor, the “Company”), announced the completion of its first production batch of 50 units of its micro-mobility electric vehicle (“EVs”) for the last-mile delivery market, “PORTO,” Revoltz’s flagship model. Completing the production is a significant step in Revoltz’s preparation for its first shipment in accordance with the distribution agreement it signed this past year.

In 2023, Revoltz entered into an exclusive distribution agreement valued at $2.7 million, with a premier distributor in Israel, dedicated to steering the advanced PORTO EVs into Israel and adjacent markets. As part of the agreement, the distributor initially purchased 50 PORTO units, and has committed to purchasing a total of 150 vehicles in the first year of the agreement term. The five-year agreement includes annual milestones and scaled-up sales targets for each year. Additionally, the distributor will provide service and maintenance for the PORTO vehicles, ensuring high-quality support and longevity for customers, focusing mainly on the local delivery market.

Revoltz has made significant strides in the EV industry with the launch of PORTO, which provides a seamless blend of functionality, sturdy design, and agility, designed specifically for the growing last-mile delivery market. The PORTO vehicle, capable of 100 km with a delivery payload of 250L on a single charge, offers a similar payload capacity to a small hatchback car, at a fraction of the cost and with the ability to maneuver in tight urban environments.  PORTO uses an advanced tilting suspension mechanism, ensuring best-in-class stability, even bearing a full load. With high volume loading spaces integrated over both axles, the cargo weight is distributed evenly, making for a safe and confident ride with unmatched vehicle dimensions.