Inzile has received order from Pinero Group

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Inzile has received an order, at a value of MSEK 5, from Spanish Pinero Group’s subsidiary Turiscar, regarding installation of a turnkey assembly factory with a capacity of 2,000 vehicles per year, in one-shift operations. The factory will assembly the new generation of hotel and resort vehicles for the Caribbean market for the joint venture between Inzile and Grupo Pinero, EMOS Caribbean. The order will be delivered during Q2 2022 to the Dominican Republic.

- We are very satisfied to take next step in our collaboration with Pinero and its subsidiary Turiscar, says Håkan Örtenholm, Executive Chairman of Inzile.

- We are delighted to move forward in our collaboration for the future of electric mobility solutions together with Inzile, comments Ricardo Moreno, Managing Director of Turiscar.

Pinero is a Spanish group, since many years established within the sectors hotel & resort, real estate and construction. Pinero offers more than 14,000 hotel rooms in the Dominican Republic, Mexico, Jamaica and Spain including residential complexes and golf courses.

Turiscar is responsible for supply and management of transport vehicles within the Pinero group. Inzile has signed an agreement with Turiscar and the companies will work closely together. Turiscar supplies not only hotels & resorts controlled by Pinero but also other hotels & resorts in the Caribbean

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

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