DGAP-News: GOVECS AG signs letter of intent for 6,000 e-scooters for the London shared-vehicles market

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GOVECS AG signs letter of intent for 6,000 e-scooters for the London shared-vehicles market

Munich, 25 September 2018 - GOVECS AG ("GOVECS", "the Company"), the leading manufacturer of electric scooters in Europe, is continuing its Europe-wide expansion course in the rapidly growing market for intelligent e-mobility solutions and has signed a letter of intent with a UK company regarding the delivery of 6,000 e-scooters for the London shared-vehicles market. The letter of intent includes the potential order of 3,000 e-scooters (Schwalbe) in 2019 and a further 3,000 in 2020. All the e-scooters are to be used in a shared-vehicles system in London.

"This letter of intent signed with a new customer is a first important step for the entry into the UK market. We expect that in 2019 our Schwalbe eScooters will be on London roads. In this way, we will be able to establish a presence in this attractive market for shared vehicles. At the same time, we have received our first order from Deliveroo for the rapidly growing London market for food deliveries," says a very satisfied Thomas Grübel, CEO and co-founder of GOVECS.

GOVECS' existing customers are also expanding their fleets. Paris-based shared-vehicles provider Cityscoot, which already uses the GO!S e-scooters in Paris and Nizza, will now also expand its business with GOVECS e-scooters in Milan and Geneva. In a preliminary step, a fleet of roughly 2,000 GOVECS e-scooters are to be available there over the coming twelve months.

"The still young European e-scooter market continues to grow dynamically. The sharing idea in particular plays an increasingly important role in large cities and is an expression of a modern lifestyle. Our outstanding market position offers excellent opportunities here," explains Thomas Grübel, CEO and co-founder of GOVECS, commenting on the sharp growth potential of e-scooter sharing projects in Europe. Essential criteria for the sharing providers for the use of the innovative e-scooters from GOVECS are in particular the high quality, which guarantees reliability and a long service life as well as the flexible adaptation to the technical requirements of the customers.
About GOVECS:

The GOVECS Group is the leading manufacturer of electric scooters in Europe and is developing future-oriented solutions for urban mobility. The Company's success is based on high-quality "Made in Europe" products for international vehicle sharing platforms and on custom-made designs for the rapidly growing merchandise delivery segment. GOVECS is selling electric scooters and accessories to the high-growth private customer segment via its own HappyScooter e-commerce platform. The GOVECS product range currently includes the e-scooters of the Schwalbe, GO! S, ELMOTO and GO! T brands.

www.govecsgroup.com

Contacts for media enquiries:

GOVECS AG, Daniele Cesca, dcesca@govecs.com, +49 89 411 09 77 15

Kirchhoff Consult AG, Nicole Schüttforth, nicole.schuettforth@kirchhoff.de, +49 40 60 91 86 64

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