Zapp Electric Vehicles Limited
(“Zapp” or the “Company”), a UK-based, high-performance two-wheel
electric vehicle company, has received yet another endorsement for
its innovative i300 Carbon Launch Edition with a category win at
the internationally renowned Red Dot Award for Product Design.
Every year, the Red Dot Award: Product Design sets out to find
the year’s best products. The products selected by the Red Dot Jury
to win an award may be aesthetically appealing, functional, smart
or innovative, but what they all have in common is their
outstanding design. The Red Dot Jury is made up of a global team of
leading design experts.
Zapp’s Red Dot victory arrives shortly after the Company’s wins
at the Good Design Award, the German Design Award, as well as a
highly successful night at the E-Mobility awards, held at the
British Motor Museum, where Zapp took home an unprecedented three
category prizes, along with a further award of merit.
The Red Dot Award further reinforces the world-class design
credentials of Zapp and its debut product, the i300 Carbon, which
is now available to pre-order on Zapp’s website www.zappev.com.
Warin Thanathawee, Chief Design Officer, Zapp,
said: “We are absolutely delighted to have won this
prestigious Red Dot Award: Product Design. Zapp is very much a
design-led company; quality and innovation are at the centre of all
that we do, so to have our work recognised by Red Dot’s expert,
international jury is a great honour.”
“For the i300, we’ve created a design that blends old and new,
one that simultaneously draws inspiration from the history of
two-wheeled transport, and looks towards an exciting, electrified
future. We’ve created a totally new design language that conveys
Zapp’s technological advancement and high-performance credentials,
all through appealing forms that are simple yet elegant.”
Zapp is a British company on a mission to redefine the electric
two-wheeler segment. Zapp’s debut product, the i300 is 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.
To achieve this, Zapp’s design team created a unique and
innovative ‘Z’-shaped exoskeleton architecture. This distinctive
design lowers the i300’s weight and centre of gravity to deliver
superb on-road performance and handling. The i300 is capable of
accelerating from 0-30 mph in just 2.3 seconds and its unique
configuration and exoskeleton architecture also meaningfully
reduces weight, maximising efficiency and boosting battery
range.
Another key innovation of the i300 is its ultra-portable double
battery system. Each battery pack weighs just 6kg and can be
charged from 20% to 80% via a standard 220v/110v wall socket in
approximately 40 minutes. The portability of the battery packs
makes the i300 easy to charge anywhere and at any time without
reliance on a public charging network.
Zapp is committed to Gen-2 sustainable design and production and
the i300 exemplifies Zapp’s mission to create truly sustainable
products. Not only are most of the i300’s components recyclable,
but its exoskeleton architecture lowers the number of components
required for assembly, in turn reducing assembly steps and energy
used.
Proposed Business CombinationOn
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 Stock Market 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 Stock
Market 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 press release contains certain
forward-looking statements within the meaning of U.S. federal
securities laws with respect to the proposed Business Combination
between CIIG II, Zapp 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 press
release, 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 risk 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 (as
may be amended from time to time, the “Registration Statement”),
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 U.S. Securities and Exchange
Commission (“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
press release represent the views of Zapp, Pubco and CIIG II as of
the date of this press release. 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 press release 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 press release
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 U.S. Securities Act of 1933, as amended, 15
U.S.C. § 77a et seq. (“Securities Act”). In connection with the
Business Combination, Pubco filed 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
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/d20d3f34-048d-4e2d-a62c-8d3f5d46ee6d
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