Zapp Electric Vehicles Limited
(“Zapp” or the “Company”), a UK-based high-performance two-wheel
electric vehicle company, today revealed the production version of
its limited-run i300 Carbon Launch Edition.
The i300 Carbon Launch Edition is designed and built with
premium specifications, featuring unique carbon fibre fender,
diamond cut wheels, a red rear spring, carbon hard carrier and a
commemorative plaque with the founder’s signature. Just 1,000 units
will be built.
Today also sees the launch of the new Zapp e-commerce website
(www.zappev.com) which features a high-definition 3D configurator
for customers to explore and build the i300, as well as order their
bike.
In combination with Zapp’s boutique-style Paris flagship store,
the new website marks the rollout of Zapp’s innovative
drop-ship-direct-to-customer (DSDTC) sales model, which offers
customers more control over how they build and order their i300,
online or in-store. A “Zapper”, a franchised and trained
technician, in a Zapper van will deliver and service Zapp vehicles
at the location of the customer’s choice.
Swin Chatsuwan, founder and CEO of Zapp, said:
“We are incredibly proud of the i300 Carbon Launch Edition. It is
our expression of performance and style. With the launch of the new
Zapp website, we are upholding our philosophy to make Zapp vehicles
‘easy to buy and easy to own.’ Zapp’s boutiques are relaxed
places where customers can discover the product and ownership
experiences in a friendly, informative, no-haggling environment.
Equally, our new configurator and website have been built on
simplicity and transparency for the customer.”
The Paris store is the first of a global network of Zapp stores
which will offer customers the opportunity to test ride the i300 ,
as well as to learn about the product.
As an antidote to the traditional automotive showroom model,
Zapp experts will be on hand to introduce the i300 and all of its
features and guide the customer through the online configuration
and ordering process.
If a customer prefers to order online without visiting a store,
they can do so on www.zappev.com. This offers price transparency
and freedom of choice across the sales journey.
The DSDTC model has been designed to uphold Zapp’s core
philosophy of ensuring its vehicles are ‘easy to buy and easy to
own’. Every customer will have their i300 delivered to an address
of their choice. The bike will be delivered in a Zapper van by a
trained Zapper, who will provide a complete handover of the
i300.
Any servicing of the i300 will also be performed on-site at a
location of the customer’s choice – whether at home, an office or
somewhere else – by a Zapper in a Zapper van.
The Zapp i300 electric performance city bike is built around an
exoskeleton architecture and powered by an advanced electric motor,
enabling it to match the acceleration of high-performance
motorcycles in a step-through architecture. The i300’s interior
permanent magnet electric motor and carbon fibre belt drive combine
to drive acceleration from 0 to 30 mph (48km/h) in just 2.3 seconds
and from 0 to 50 mph (97km/h) in 5.0 seconds.
Proposed Business
Combination
On November 22, 2022, Zapp and CIIG Capital
Partners II, Inc., a U.S. publicly-listed blank check company
(Nasdaq: CIIG) (“CIIG II”), announced that they have entered into a
definitive merger agreement (the “Merger Agreement”). Upon closing
of the transaction contemplated by the Merger Agreement (the
“Business Combination”), the combined company, Zapp Electric
Vehicles Group Limited (“Pubco”), a Cayman Islands exempted
company, is expected to list its ordinary shares on the Nasdaq
under the ticker symbol “ZAPP”. The Business Combination is
expected to close in the first half of 2023, subject to stockholder
approvals and other customary closing conditions.
About Zapp
Zapp Electric Vehicles Limited is a British
company – run by a team of experts from the mobility industry – on
a mission to redefine the electric two-wheeler segment. Zapp
created the i300 as an urban electric high-performance two-wheeler
capable of traditional motorcycle levels of performance in a
step-through format, combining ease of use with exhilaration and
fun. The i300 is the first in a suite of high-performance electric
two-wheelers expected to come to market from Zapp. Zapp is expected
to operate a high-quality direct-to-customer (DTC) experience
called DSDTC (drop-ship-direct-to-customer). Customers ordering the
i300 online will have their bikes conveniently delivered to their
home by “Zappers” who provide at-home inspection, service and
support throughout the vehicle ownership lifecycle.
About CIIG Capital Partners II,
Inc.
CIIG Capital Partners II, Inc. is a blank check
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. CIIG II’s
units, Class A common stock and warrants trade on the Nasdaq under
the ticker symbols “CIIGU,” “CIIG,” and “CIIGW” respectively.
Investor Relations Contact:Gateway Investor
RelationsCody Slach, Ralf Esper(949) 574-3860zapp@gatewayir.com
Global Media Relations Contact:
InfluenceLisa Palmer+ 44 (0) 7956 710028pr@zappev.com
North America Media Relations Contact:
Gateway PRZach Kadletz(949) 574-3860zapp@gatewayir.com
Forward-Looking Statements
This document contains certain forward-looking statements within
the meaning of U.S. federal securities laws with respect to the
proposed Business Combination between Zapp, CIIG II and Pubco,
including statements regarding the benefits of the transaction, the
anticipated timing of the transaction, the anticipated growth in
the industry in which Zapp operates and anticipated growth in
demand for Zapp’s products, projections of Zapp’s future financial
results and possible growth opportunities for Zapp. These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “budget,” “opportunity,” “plan,” “may,”
“should,” “will,” “would,” “will be,” “will continue,” “will likely
result,” and similar expressions. These statements involve risks,
uncertainties and other factors that may cause actual results,
levels of activity, performance or achievements to be materially
different from the information expressed or implied by these
forward-looking statements. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this document, including but not
limited to: (i) the risk that the transaction may not be completed
in a timely manner or at all, which may adversely affect the price
of CIIG II’s securities, (ii) the risk that the transaction may not
be completed by CIIG II’s business combination deadline, (iii) the
failure to satisfy the conditions to the consummation of the
transaction, including the adoption of the merger agreement by the
stockholders of CIIG II, (iv) the risk that CIIG II may not have
sufficient funds to consummate the Business Combination, (v) the
lack of a third party valuation in determining whether or not to
pursue the proposed Business Combination, (vi) the occurrence of
any event, change or other circumstance that could give rise to the
termination of the merger agreement, (vii) the effect of the
announcement or pendency of the transaction on Zapp’s business
relationships, performance, and business generally, (viii) risks
that the proposed Business Combination disrupts current plans of
Zapp or diverts management’s attention from Zapp’s ongoing business
operations and potential difficulties in Zapp’s employee retention
as a result of the proposed Business Combination, (ix) the outcome
of any legal proceedings that may be instituted against Zapp,
Pubco, CIIG II or their respective directors or officers related to
the proposed Business Combination, (x) the ability of Pubco, CIIG
II or a successor thereto to maintain the listing of its securities
on The Nasdaq Stock Market LLC, (xi) volatility in the price of the
securities of Pubco, CIIG II or a successor thereto due to a
variety of factors, including changes in the competitive and highly
regulated industries in which Zapp plans to operate, variations in
performance across competitors, changes in laws and regulations
affecting Zapp’s business and changes in the combined capital
structure, (xii) the ability to implement business plans,
forecasts, and other expectations after the completion of the
proposed Business Combination, and identify and realize additional
opportunities, (xiii) the risk of downturns in the highly
competitive electric vehicle industry, (xiv) the ability of Zapp to
build the Zapp brand and consumers’ recognition, acceptance and
adoption of the Zapp brand, (xv) the risk that Zapp may be unable
to develop and manufacture electric vehicles of sufficient quality
and on schedule and scale, that would appeal to a large customer
base, (xvi) the risk that Zapp has a limited operating history, has
not yet released a commercially available electric vehicle and does
not have experience manufacturing or selling a commercial product
at scale and (xvii) the risk that Zapp may not be able to
effectively manage its growth, including its design, research,
development and maintenance capabilities.
The foregoing list of factors is not exhaustive. Forward-looking
statements are not guarantees of future performance. You should
carefully consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of Pubco’s
registration statement on Form F-4, CIIG II’s Annual Report on Form
10-K and Quarterly Report on Form 10-Q and other documents filed by
Pubco, CIIG II or a successor thereto from time to time with the
SEC. These filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
The forward-looking statements in this document represent the views
of Zapp, Pubco and CIIG II as of the date of this document.
Subsequent events and developments may cause that view to change.
Readers are cautioned not to put undue reliance on forward-looking
statements, and all forward-looking statements in this document are
qualified by these cautionary statements. Zapp, Pubco and CIIG II
assume no obligation and do not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. None of Zapp, Pubco nor CIIG II gives
any assurance that Zapp, Pubco or CIIG II will achieve its
expectations. The inclusion of any statement in this document does
not constitute an admission by Zapp, Pubco or CIIG II or any other
person that the events or circumstances described in such statement
are material.
Additional Information and Where to Find It
This document relates to the proposed Business Combination
between CIIG II, Pubco and Zapp. This document does not constitute
an offer to sell or exchange, or the solicitation of an offer to
buy or exchange, any securities, nor shall there be any sale of
securities in any jurisdiction in which such offer, sale or
exchange would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of the Securities Act. In connection with the
Business Combination, Pubco filed a registration statement on Form
F-4 with the SEC (as may be amended from time to time, the
“Registration Statement”) on December 16, 2022, which included a
preliminary proxy statement of CIIG II and a preliminary prospectus
of Pubco. The SEC declared the Registration Statement effective on
March 17, 2023, and CIIG II has mailed a definitive proxy statement
relating to the Business Combination to CIIG II’s stockholders. The
Registration Statement, including the proxy statement/prospectus
contained therein, contains important information about the
Business Combination and the other matters to be voted upon at a
meeting of CIIG II’s stockholders to be held to approve the
Business Combination (and related matters). Pubco and CIIG II may
also file other documents with the SEC regarding the Business
Combination. Before making any voting decision, CIIG II
stockholders and other interested persons are urged to read the
definitive proxy statement/prospectus, and other documents filed in
connection with the Business Combination, as these materials will
contain important information about Zapp, Pubco, CIIG II and the
Business Combination.
Investors and security holders may obtain free copies of the
proxy statement/prospectus and all other relevant documents filed
or that will be filed with the SEC by CIIG II through the website
maintained by the SEC at www.sec.gov. In addition, the
documents filed by CIIG II may be obtained free of charge from CIIG
II’s website at https://ciigpartners.com/ or by written
request to CIIG II at 40 West 57th Street, 29th Floor, New
York, New York 10019.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN
APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY
AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS
OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION
CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.
Participants in the Solicitation
CIIG II, Pubco and Zapp and their respective directors and
officers may be deemed to be participants in the solicitation of
proxies from CIIG II’s stockholders in connection with the proposed
Business Combination. Information regarding the persons who may,
under SEC rules, be deemed participants in the solicitation of CIIG
II’s stockholders in connection with the proposed transactions is
set forth in the proxy statement/prospectus. You can find more
information about CIIG II’s directors and executive officers in
CIIG II’s Annual Report on Form 10-K, filed with the SEC on
February 14, 2023 and in the proxy statement/prospectus. Additional
information regarding the interests of those persons and other
persons who may be deemed participants in the proposed Business
Combination may be obtained by reading the proxy
statement/prospectus regarding the proposed Business Combination.
You may obtain free copies of these documents as described in the
preceding section.
No Offer or Solicitation
This document is for informational purposes only and does not
constitute an offer to sell, a solicitation of an offer to buy, or
a recommendation to purchase any security of Pubco, Zapp, CIIG II
or any of their respective affiliates. No such offering of
securities shall be made except by means of a prospectus meeting
the requirements of section 10 of the Securities Act, or an
exemption therefrom. The contents of this document have not been
reviewed by any regulatory authority in any jurisdiction.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ac7439a1-fa4b-4617-968b-a90bb31907e1
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