Zapp secures $10M for i300 urban electric bike

Zapp Electric Vehicles Group Limited, the pioneering force behind the groundbreaking British electric mobility brand “Zapp,” dedicated to revolutionizing personal urban travel, has revealed their partnership with an affiliate of Yorkville Advisors Global for a standby equity purchase arrangement (SEPA). The proceeds from this agreement will primarily bolster the production and debut of the i300, Zapp’s cutting-edge electric motorcycle tailored for urban environments. Initial deliveries of the i300 are slated to commence in Europe within the imminent months, with plans for a commercial launch in Asian markets by the close of 2024.

Swin Chatsuwan, the Founder and CEO of Zapp EV, expressed, “Our teams of designers and engineers have crafted an exceptional product. Securing this vote of confidence from a distinguished investor provides us with the financial backing needed for the anticipated rollout of i300s this year.”

Chatsuwan further elaborated, “In this competitive landscape, consumer appeal stands as a paramount factor, and we firmly believe that the i300’s multi-award-winning design, top-tier performance specifications, and commitment to sustainability, all offered at an accessible price point, position Zapp for triumph. We anticipate achieving a favorable gross margin from the onset of the anticipated surge in customer deliveries. Zapp's business model, which minimizes the need for extensive capital investment through strategic contract manufacturing partnerships, is instrumental in our ability to swiftly attain our objectives. We eagerly anticipate the inaugural i300 deliveries in Europe, the attainment of European Community Whole Vehicle Type Approval following the successful completion of all necessary vehicle tests, and leveraging this momentum to accelerate our commercial expansion across pivotal Asian markets.”

Zapp Electric Vehicles Group Limited exudes confidence in the burgeoning demand for electric two-wheelers, particularly in emerging economies. A key highlight and distinguishing factor of Zapp’s i300 release is its independence from specialized charging infrastructure, thanks to its portable and lightweight batteries, which can be conveniently charged at standard wall outlets. The company is steadfast in its belief that upon commencing production, their streamlined asset-light business model, which relies on contract manufacturing and financing through the Export Import Bank of Thailand, will facilitate rapid scalability of their operations.