Inzile and OK Mobility Group create Joint Venture

Inzile and Spanish OK Mobility Group create a joint venture company for the commercialization of electric vehicles (EV) for the Rent a car sector in Europe.

Inzile and Spanish OK mobility Group have today created a joint venture company for the commercialization of EVs for the European Rent a car sector. Inzile will design, homologate, and produce compact EVs, in order to supply them to this sector, with the assistance and experience of OK Mobility Group and its marketing facilities.

Considering that OK Mobility is one of the leaders in the Rent a car market in Spain and has a presence in Italy, Portugal, France, Germany, Croatia and Greece, the alliance with Inzile will have a great potential of becoming a sales success.

- This new joint venture gives both Inzile and OK Mobility Group entry to a new product and market, with the opportunity to significantly increase their sales, assures Håkan Örtenholm, Executive Chairman of Inzile.

OK Mobility Group invoices sales of more than EUR 400 million per year, with an EBITDA exceeding EUR 50 million. This year the company plans to purchase more than 10,000 vehicles. OK Mobility Group is already a strategic shareholder of Inzile, with a share of 1%, and its owner and CEO Othman Ktiri has joined the Inzile Advisory Board.

For further information, please contact:

Måns Sjöstedt, CEO Inzile, mans.sjostedt@inzile.com, +46 70 946 69 05

Peter Wergens, CFO Inzile, peter.wergens@inzile.com, +46 73 325 75 04

About Inzile

Inzile is a Swedish tech company manufacturing intelligent electrically powered vehicles as well as creating modern transport and service solutions for a sustainable community. The company’s vision is to liberate the world from emission of fossil fuels and to accelerate the climate efforts by contributing to sustainable cities that improve quality of life.

Inzile was founded in 2012 based on a strong will to secure a future climate friendly utility vehicle sector. The team consists of some of Scandinavia’s foremost authorities related to electrical vehicles, digitalization, manufacturing and purchasing. Inzile develops, produces, and sells innovative vehicle solutions on the global market based on the demanding Nordic climate, security requirements and environmental standards. The company is based in Sweden with headquarters and production facility located in Västervik, R&D in Tranås and marketing office in Stockholm.

The company's share is traded on Nasdaq First North Growth Market Stockholm.

Redeye AB is the Company’s Certified Adviser, +46 8 121 57 690, certifiedadviser@redeye.se.

For further information, please visit: www.inzile.com