Inzile’s production volume for 2020 is limited by component shortages

Difficulties with component supply continue to slow down Inzile's production. The current pandemic initially caused delays in deliveries of necessary components, but quality problems with a subcontractor have also recently been recorded. We have taken measures to secure the component supply and our hope is that it will function more normally in the future. The production line works well and Inzile predicts that a total of 50 vehicles will be completed this year, compared to what was communicated on September 24, 120 vehicles. Assuming normalized deliveries of components, Inzile expects to gradually increase the production rate to four vehicles per day during the second half of 2021.

Inzile's electric truck Pro4 is currently being evaluated by a number of large private companies and by several municipalities around Sweden. The evaluation is proceeding according to plan and the sales potential for 2021 is judged to be good. The number of inquiries through the configurator on the company's website has been satisfactory in 2020. Test driving is an important part of the sales process and therefore Inzile recruited additional sales people during the fourth quarter to meet the high demand for demonstrations across Sweden.

Inzile Pro4 is an electric light truck that has been developed with the aim of creating conditions for smart and fossil-free cities. Electric Utility Vehicle (EUV) is a niche segment in the automotive industry that is expected to grow rapidly in the coming years. The customer groups include real estate companies, transport companies and e-retailers that want to eliminate emissions in the cities, as well as municipalities and park administrations.

For further information, please contact:

Ragnar Åhgren, CEO Inzile, ragnar.ahgren@inzile.com, +46 73 356 89 89

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

This information is such that Inzile AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation (MAR). The information was provided by the above contact persons, for publication on December 9, 2020 at 18.30 CET.

About Inzile

Inzile is a Swedish tech company creating intelligent electrically powered vehicles as well as 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 as well as a marketing office located in Stockholm.

FNCA Sweden AB is the Company’s Certified Adviser, +46 8 528 00 399, info@fnca.se.

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