June 13, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas, reports on trading for Zapp Electric Vehicles Group Limited (Nasdaq: ZAPP), the British electric vehicle brand on a mission to revolutionise personal urban mobility,
The stock has exploded today with news, watching retail investors trade it up, currently at $1.9985, up 1.2835, rising 181.6702%. The stock has a day’s range of 0.7505 – 3.0700 on volume of over 34 Million shares.
Zapp Electric Vehicles today announced that it signed a memorandum of understanding and intends to appoint Bounce Electric 1 Private Limited (“Bounce”) as its contract manufacturing partner for sales of the i300 in India. Accel-backed Bounce already operates a domestic vehicle assembly facility and may further assist with distribution of i300 in the country. The parties intend for Bounce to provide the necessary support for homologation in India while Zapp continues working toward commercial rollout and first customer deliveries of the i300 in Europe and Thailand in summer 2024.
Swin Chatsuwan, Founder and CEO of Zapp EV, said: “India is one of the largest markets in the world for sales of two-wheelers and the number of premium models sold there is estimated to be more than four times the number of all models sold in the US. Bounce already operates a certified vehicle assembly facility in India, so this partnership is expected to accelerate Zapp’s commercial rollout in that country. We think the design attributes of i300 make it an excellent solution for personal mobility with India’s growing purchasing power and urban densification. Our plan to scale the business in India from an initial minimum capacity of 5,000 units per year is not dependent on any dedicated charging infrastructure since the i300’s removable and portable battery packs can be charged from any wall socket, making this a huge market opportunity for both companies.”
Zapp utilises an asset-light and capital efficient business model, enabled by its contract manufacturing partnerships, which are expected to provide sufficient capacity to quickly scale production without incurring significant capital expenditures. This capital-efficient financing structure, together with its asset-light production requirements, positions Zapp to achieve positive free cash flow in a shorter time frame compared to other four- and two-wheel electric vehicle peers.
Recent News:
https://ca.finance.yahoo.com/news/zapp-ev-appoint-contract-manufacturing-132500485.html
Research more EV stocks with Investorideas.com free stocks directory
https://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp#EV
About Investorideas.com – Big Investing Ideas
Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for various sectors, including gaming, biotech, tech and sports. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.
Disclaimer
Global Investor Ideas is part of the Investorideas.com content umbrella and is owned by Econ Corporate Services Inc. For Investorideas disclosure and disclaimer please visit the site directly
Disclaimer/Disclosure: GlobalInvestorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by GlobalInvestorideas and investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. If we are not the source for content but just a publisher , please contact the source of all content for questions and info. We are not responsible for third party content.