ILUS Confirms New First Phase Deal for ILUS EV Technologies in Serbia
April 26 2023 - 1:24PM
InvestorsHub NewsWire
NEW YORK, NY -- April 26, 2023 -- InvestorsHub NewsWire -- ILUS
International Inc. (OTC:
ILUS) is a Mergers and Acquisitions company focused on
acquiring and growing companies in the public safety, industrial,
defense and renewable sectors. Following the delay of its
previously signed first phase Investment Project deal with the
Serbian government, the company announced last week that it was
completing a new first phase deal for ILUS EV Technologies and
Replay Solutions. ILUS now confirms that it has secured the
facility in Kragujevac, Serbia for ILUS EV Technologies to proceed
with its Investment Project.
The site in Kragujevac, Serbia is available immediately with
existing automotive engineers to be onboarded by ILUS EV
Technologies as well as existing machinery for production of the
company’s E-Raptor range of commercial electric Utility Vehicles.
ILUS expects the first E-Raptor 6x6 models to roll off the
Kragujevac production line during the second half of Q3 2023. The
vehicles are in high demand for projects following several meetings
with European government leaders, resulting from their mandate to
invest in sustainable solutions directed at achieving regional
emission reduction targets.
In addition to securing the land, facilities, and manpower in
Kragujevac for ILUS EV Technologies, further meetings are underway
in Serbia this week for the Replay Solutions Investment Project as
well as for the much larger Phase 2 government deal.
In its press release last week (21 April 2023), ILUS confirmed
that its previously signed first phase Investment Project deal with
the Serbian government was originally delayed due to ILUS concerns
following the 2022 Serbian General Election and heightened
geopolitical tensions in the region. With the resolve of these
concerns and the opportunity for acquiring improved manufacturing
capability, ILUS is now pressing forward with its production plans
in the region. Existing E-Raptor 6x6 stock units as well as
additional component parts and machinery are currently being
shipped to Serbia. Following successful rollout of the first batch
of E-Raptor 6x6 models produced at the Kragujevac facility,
production of the new 4x4 model will commence, with all component
parts for this model to be sourced from within the
region.
“This is an improved deal for ILUS which gives us existing
manufacturing capability and the ability to hit the ground running
for our E-Raptor manufacturing in Serbia. With several large
projects being negotiated in the region, it’s important to have our
EV manufacturing base finalized. This deal combined with the Phase
2 deal and the rollout of our ERT vehicle manufacturing plans in
the US, will altogether position us well to satisfy growing demand
for our broad portfolio of vehicle solutions,” said ILUS Managing
Director, John-Paul Backwell.
Following the filing of its Form 10-K Annual Report and
confirmation of ILUS’ Industrial subsidiary, QIND’s planned uplist
to the NYSE American, ILUS will be providing updates and/or
announcements on the following within the next week and a half:
- Hyperion Defense Solutions Counter IED Agreement
- QIND NYSE American listing application
- ILUS Share Lockup and QIND uplist value to ILUS
Shareholders
- ERT Fixed Firefighting (Fire Suppression) Systems
production
- ERT Acquisitions
For further information on ILUS, please see its communication
channels:
Website: https://ilus-group.com
Twitter: @ILUS_INTL
Email: IR@Ilus-Group.com
Source: ILUS
Related Links
https://ilus-group.com
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information contained herein constitutes forward-looking statements
and includes, but is not limited to, the (i) projected financial
performance of the Company; (ii) completion of, and the use of
proceeds from, the sale of the shares being offered hereunder;
(iii) the expected development of the Company's business, projects,
and joint ventures; (iv) execution of the Company's vision and
growth strategy, including with respect to future M&A activity
and global growth; (v) sources and availability of third-party
financing for the Company's projects; (vi) completion of the
Company's projects that are currently underway, in development or
otherwise under consideration; (vi) renewal of the Company's
current customer, supplier and other material agreements; and (vii)
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contained in this presentation are based upon what management of
the Company believes are reasonable assumptions, there can be no
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and others should note that we announce material financial
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website: https://ilus-group.com
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Note: ILUS Coin does not sit within ILUS International Inc
(Ilustrato Pictures International Inc), so the public are
recommended to follow the correct Media Channels relating to the
public company OTC: ILUS
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