Next.e.GO Mobile SE (“e.GO”), an innovative producer of urban
electric vehicles and unique production technology, today announced
that it will attend the Hannover Messe trade fair in Germany, from
April 17-21, 2023, alongside Microsoft, at the Microsoft booth in
Hall 17 Booth G06.
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Demonstration of HoloLens technology with
the e.GO e.wave X at the Hannover Messe trade show (Photo: Business
Wire)
This year’s trade fair, under the central theme of Industrial
Transformation, features a range of technologies, industrial
solutions and innovations as well as the difference they can make
in overcoming global challenges and promoting smarter, more
energy-efficient, and sustainable industry and energy systems for
the future.
In addition to its vehicles, e.GO will also be showcasing its
unique and disruptive MicroFactory production technology, which it
believes will empower flexible, capital-efficient and decentralized
growth in the automotive industry. e.GO´s robotics solution along
with the tech-first IT architecture (the Internet of Production)
leveraging smart data layers and connecting the cyber and physical
production streams on one platform could unlock the true potential
that Industry 4.0 has to offer.
The industrial metaverse helps bring existing and new
technologies together with the aim to deliver immediate value and
manufacturers like e.GO are at the forefront of driving this
paradigm shift.
Microsoft and e.GO will demonstrate the digital loop of the
industrial metaverse through several showcases at this year’s
Hannover Messe. Together, the two companies will show what
onboarding processes for production workers can look like and how
artificial intelligence contributes to faster and more convenient
service for customers. The HoloLens demo with e.GO’s innovative
urban electric-vehicle e.wave X is a holistic view on the digital
loop within the industrial metaverse (design, build, operate,
optimize). Artificial intelligence and related 3D software are used
to intelligently link the real world with the virtual world.
“This new technological wave is the foundation for the
industrial metaverse. We at e.GO are truly excited to be at the
forefront of this industrial transformation and to be able
contribute to building a more sustainable production ecosystem and
the factories of the future,” said Ali Vezvaei, Chairman of the
Board of Next.e.GO Mobile SE.
Faced with supply chain issues, human capital constraints,
energy restrictions and supply chain uncertainties, organizations
are increasingly looking to better understand, predict, and
interact with the physical world.
Microsoft and e.GO believe technology can help manufacturers
bridge the two worlds to fundamentally change how we design and
build products, production systems and also operate facilities and
optimize processes. Technology derivatives such as digital twins,
mixed reality, cloud to edge, machine learning, and AI allow
manufacturers to simulate complex processes and factories, changing
how work is done and sustained.
Across the Microsoft booth, Hannover Messe visitors can
experience these enabling technologies in action.
About e.GO
Headquartered in Aachen, Germany, e.GO designs and manufactures
battery electric vehicles for the urban environment, with a focus
on convenience, reliability and affordability. e.GO has developed a
disruptive solution for producing its electric vehicles using
proprietary technologies and low cost MicroFactories, and has
vehicles already on the road today. e.GO is helping cities and
their inhabitants improve the way they get around and is making
clean and convenient urban mobility a reality. Visit
https://www.e-go-mobile.com/ to learn more.
As announced on July 28, 2022, e.GO has entered into a
definitive agreement for a business combination with Athena
Consumer Acquisition Corp. (NYSE: ACAQ, ACAQ.U, ACAQ WS), a
publicly-traded special purpose acquisition company (“SPAC”) that
would result in e.GO becoming a publicly listed company. Completion
of the proposed transaction is subject to customary closing
conditions and is expected to occur in the second quarter of
2023.
Forward Looking Statements
This communication includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“estimate,” “plan,” “project,” “forecast,” “intend,” “will,”
“expect,” “anticipate,” “believe,” “seek,” “target”, “may”,
“intend”, “predict”, “should”, “would”, “predict”, “potential”,
“seem”, “future”, “outlook” or other similar expressions (or
negative versions of such words or expressions) that predict or
indicate future events or trends or that are not statements of
historical matters. These forward-looking statements include, but
are not limited to, statements regarding Athena, e.GO, and TopCo’s
expectations with respect to future performance and anticipated
financial impacts of the Business Combination, the satisfaction of
the closing conditions to the Business Combination, the level of
redemptions by Athena’s public stockholders, the timing of the
completion of the Business Combination and the use of the cash
proceeds therefrom. These statements are based on various
assumptions, whether or not identified herein, and on the current
expectations of Athena, e.GO, and TopCo’s management and are not
predictions of actual performance. These forward-looking statements
are provided for illustrative purposes only and are not intended to
serve as, and must not be relied on by any investor as, a
guarantee, an assurance, a prediction or a definitive statement of
fact or probability. Actual events and circumstances are difficult
or impossible to predict and may differ from assumptions, and such
differences may be material. Many actual events and circumstances
are beyond the control of Athena, e.GO, and TopCo.
These forward-looking statements are subject to a number of
risks and uncertainties, including: (i) changes in domestic and
foreign business, market, financial, political and legal
conditions; (ii) the inability of the parties to successfully or
timely consummate the proposed Business Combination, including the
risk that any required regulatory approvals are not obtained, are
delayed or are subject to unanticipated conditions that could
adversely affect the combined company or the expected benefits of
the proposed Business Combination or that the approval of the
stockholders of Athena or e.GO is not obtained; (iii) failure to
realize the anticipated benefits of the proposed Business
Combination; (iv) risks relating to the uncertainty of the
projected financial information with respect to e.GO; (v) the
outcome of any legal proceedings that may be instituted against
Athena and/or e.GO following the announcement of the Business
Combination; (vi) future global, regional or local economic and
market conditions; (vii) the development, effects and enforcement
of laws and regulations; (viii) e.GO’s ability to grow and achieve
its business objectives; (ix) the effects of competition on e.GO’s
future business; (x) the amount of redemption requests made by
Athena’s public stockholders; (xi) the ability of Athena or the
combined company to issue equity or equity-linked securities in the
future; (xii) the ability of e.GO and Athena to raise interim
financing in connection with the Business Combination, including to
secure an e.GO IP-backed note; (xiii) the outcome of any potential
litigation, government and regulatory proceedings, investigations
and inquiries; (xiv) the risk that the proposed Business
Combination disrupts current plans and operations as a result of
the announcement and consummation, (xv) costs related to the
Business Combination, (xvi) the impact of the global COVID-19
pandemic and (xvi) those factors discussed below under the heading
“Risk Factors” and in the documents filed, or to be filed, by
Athena and Topco with the SEC. Additional risks related to e.GO’s
business include, but are not limited to: the market’s willingness
to adopt electric vehicles; volatility in demand for vehicles;
e.GO’s dependence on the proceeds from the contemplated Business
Combination and other external financing to continue its
operations; significant challenges as a relatively new entrant in
the automotive industry; e.GO’s ability to control capital
expenditures and costs; cost increases or disruptions in supply of
raw materials, semiconductor chips or other components; breaches in
data security; e.GO’s ability to establish, maintain and strengthen
its brand; e.GO’s minimal experience in servicing and repairing
vehicles; product recalls; failure of joint-venture partners to
meet their contractual commitments; unfavorable changes to the
regulatory environment; risks and uncertainties arising from the
acquisition of e.GO’s predecessor business and assets following the
opening of insolvency proceedings over the predecessor’s assets in
July 2020; and e.GO’s ability to protect its intellectual property.
If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements.
There may be additional risks that neither e.GO nor Athena
presently know or that e.GO and Athena currently believe are
immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect e.GO’s and Athena’s
expectations, plans or forecasts of future events and views as of
the date of this communication. e.GO and Athena anticipate that
subsequent events and developments will cause e.GO’s and Athena’s
assessments to change. However, while e.GO and Athena may elect to
update these forward-looking statements at some point in the
future, e.GO and Athena specifically disclaim any obligation to do
so. These forward-looking statements should not be relied upon as
representing e.GO’s and Athena’s assessments as of any date
subsequent to the date of this communication. Accordingly, undue
reliance should not be placed upon the forward-looking
statements.
No Offer or Solicitation
This communication is for informational purposes only and does
not constitute an offer to sell or the solicitation of an offer to
buy any securities, or a solicitation of any vote or approval, nor
shall there be any sale of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the
Securities Act, or an applicable exemption from the registration
requirements thereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20230417005366/en/
Next.e.GO Mobile SE Public Relations Lilienthalstraße 1
52068 Aachen, Germany presse@e-go-mobile.com
For Investors: Caldwell Bailey ICR, Inc. eGOIR@icrinc.com
For Media: Dan Brennan ICR, Inc. eGOPR@icrinc.com
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