Inzile will not reach the production target for 2020 due to component shortages

Due to effects of the Corona pandemic some of Inzile's subcontractors are temporarily unable to supply the company with the necessary components. This means that about two thirds of the vehicles that were to be completed during the fall will not be ready for delivery until the first quarter of 2021.

 - The target of 360 manufactured vehicles for 2020 will not be reached, but we are able to secure about a third of this volume. Due to the uncertainties from the Corona crisis we do not provide a forecast for 2021, says Inzile's CEO Ragnar Åhgren.

 - We anticipate that deliveries of the components that are delayed will gradually resume during Q4 2020 and Q1 2021. However, we reserve the right to the uncertainty of the Corona pandemic’s continued development and the impact this may have on logistics and deliveries, comments Inzile's CEO Ragnar Åhgren.

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:
Peter Wergens, CFO, 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 person, for publication on September 25, 2020 at 19.15 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 emissions of fossil fuels and to accelerate the climate efforts by contributing to smart 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 the headquarters and production facility located in Västervik, R&D in Tranås and Munkedal 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