CORRECTION — EV Technology Group prepares for growth with

TORONTO, May 19, 2022 (GLOBE NEWSWIRE) — In a statement issued by the same title earlier today by EV Technology Group Ltd. (NEO: EVTG, DE: B96A), please note that a change has been made to the first paragraph.

The corrected version follows:

EV Technology Group Ltd. (the “Company” or “EV Technology Group”) (NEO: EVTG, DE:B96A) today announces that production of the first fully electric MOKE vehicle has been completed by MOKE International Limited (“MOKE International”).

EV Technology Group is an investor and strategic partner of MOKE International, the official producer of MOKE vehicles since it acquired the original marque in 1964 and began production in 2015. The MOKE is an iconic car, first made famous by the likes of James Bond and Brigitte Bardot in the 1960s, after which it became popular in destinations such as southern France, Australia and the Caribbean. With the release of this revolutionary electric MOKE, MOKE ushers its iconic brand into a carbon-free future.

The electric MOKE has been in design and development for over 3 years. It is manufactured in the UK to the highest quality standards and currently meets homologation test requirements in Spain.

The first “Wave Blue” electric MOKE rolled off the production line today and will also be available in 4 additional launch colors, chosen to reflect its spiritual home alongside clear waters and golden beaches. With a range that should be officially verified at 120 km, from a European-made lithium battery, the electric MOKE is mainly made from European parts, allowing duty-free export to the EU. The first production car is shipped for demonstration purposes to Casa MOKE, the flagship store of MOKE France SAS in St Tropez, a legendary town on the French Riviera with a long historical association with the marque.

The electric MOKE, now in production

“Seeing the first MOKE electric vehicle roll off the production line is a huge milestone,” said Wouter Witvoet, Managing Director of EV Technology Group. “The MOKE is truly iconic and we are seeing strong demand for this electric variant – especially in the South of France. We are delighted to support MOKE and help usher the first iconic brand in our portfolio into an electric future. “.

“It’s something very special,” said Isobel Dando, CEO of MOKE International. “The Electric MOKE Electric has been assembled in the UK to the highest standards, after years of detailed design and development work. The Electric MOKE stays true to the heart of the brand, but its electrification makes it a vehicle ready for the future”.

“This moment marks the next great chapter in MOKE’s extraordinary legacy. From the moment MOKE International brought the brand back to the UK, we were committed to delivering MOKE’s unique marriage of fun and freedom under the power clean air,” continued Isobel Dando. “These cars are now in production at our partner’s state-of-the-art facilities in the UK and ready to be delivered to customers. one of Britain’s most beloved and compelling motoring icons thanks to electrification.

EV Technology Group

EV Technology Group was founded in 2021 with a vision to electrify iconic brands – and a mission to redefine driving pleasure in the electric age. By acquiring iconic brands and bringing beloved automotive experiences into the electric age, EV Technology Group is advancing the electric vehicle revolution. Supported by a diverse team of passionate entrepreneurs, engineers and driving enthusiasts, EV Technology Group creates value for its customers by owning the total customer experience – acquiring and partnering with iconic brands with significant growth potential in unique markets and controlling end-to-end capabilities. To learn more, visit: https://evtgroup.com/

MOKE

MOKE and the MOKE logo are trademarks or registered trademarks of MOKE International Limited in the European Union and other territories. MOKE International, a company registered in England, is the only manufacturer of genuine MOKE vehicles in the world. The brand was acquired from Casti SpA and derives from the original registration of British Motor Corporation in 1964. MOKE France is the official French licensee. For more information visit: https://mokeinternational.com

Media
Rachel D’Amore
[email protected]
+1519-564-9850

Investor Relations
David Gentry
[email protected]
+14074914498

EV Technology Group
Wouter Witvoet
CEO and Chairman of the Board
[email protected]

Forward-looking information

This press release contains forward-looking statements, including, but not limited to, Electric MOKE production, the Electric MOKE lineup, homologation test requirements in Spain, operations, expectations and the future actions of MOKE International and EV Technology Group. Often, but not always, these forward-looking statements can be identified by the use of words such as “estimated”, “potential”, “open”, “future”, “presumed”, “projected”, “used”, “detailed”. ‘, ‘has been’, ‘gains’, ‘planned’, ‘reflecting’, ‘will’, ‘contains’, ‘remaining’, ‘to be’, or statements that events ‘could’ or ‘should’ occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from the results, performance or achievements expressed or implied by the statements. forward-looking statements, including those factors discussed under “Risk Factors” in the Company’s 2021 Annual Information Form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause the actions, events or results differ from those anticipated, estimated or expected.

Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied by the forward-looking statements. These factors should be carefully considered and readers should not place undue reliance on forward-looking statements. Although the forward-looking statements contained in this press release are based on what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are made as of the date hereof, and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, unless the law requires it. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

THE NEO EXCHANGE ACCEPTS NO RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4d263f93-bcfa-4237-acaf-91f7bbe56fa7

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