The British electric vehicle brand has announced it has entered into a standby equity purchase agreement with an affiliate of Yorkville Advisors Global, LP and use proceeds primarily to start the production and commercial rollout of the i300, the brand’s high-performance electric urban motorcycle. Zapp EV anticipates making initial deliveries of the i300 in Europe in the months ahead, followed by commercial launch in Asian markets in late 2024.
“Our design and engineering teams have delivered an exceptional product,” said Swin Chatsuwan, Founder and Chief Executive Officer of Zapp EV. “With this vote of confidence from a renowned investor, we have the financial resources for the expected rollout of i300s this year.”
Zapp EV anticipates that sales of electric two-wheelers will grow significantly in most parts of the world in the years ahead, especially in emerging markets. Among other key competitive advantages and product differentiation, Zapp’s i300 rollout will not be impeded by investments in dedicated charging infrastructure since its two lightweight portable batteries can be taken indoors and charged at any wall socket.
“Consumer appeal is a key differentiator in this space, and we think the i300’s eight-time award winning design, high-performance specifications, and sustainability, all at an affordable price, give Zapp the key ingredients for success,” said Chatsuwan. “We look forward to the first i300 deliveries in Europe, receipt of European Community Whole Vehicle Type Approval now that all requisite vehicle tests have been successfully completed, and capitalising on this progress to expedite our commercial rollout across key Asian markets.”
