Zapp EV appoints first Irish reseller for electric motorcycle

DUBLIN - Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP), a British electric vehicle brand trading at $0.52 per share, has announced the appointment of Michael Grant Zapp Limited as its first authorized reseller in Ireland. The company, which analysts expect to grow sales by over 658% this year according to InvestingPro data, is making this strategic move despite facing significant financial challenges. The Dublin-based venture, led by Michael Grant, a veteran with over four decades of experience in automotive retail, will focus on the sale and support of Zapp’s electric vehicles.

This strategic move follows the recent EU homologation of Zapp’s i300 urban electric motorcycle, a high-performance two-wheeler designed for city use. The homologation, certified by the National Standards Authority of Ireland, is a significant step in Zapp’s commercial expansion across Europe.

David McIntyre, Chief Operating Officer at Zapp EV, expressed enthusiasm about the collaboration with Michael Grant, emphasizing the shared goal of increasing the number of electric bikes on European roads.

Zapp EV is recognized for its mission to redefine the electric two-wheeler segment with products like the i300, which boasts traditional motorcycle performance in a step-through format. The company’s direct-to-customer experience, known as DSDTC, ensures that customers receive their bikes at home, delivered by authorized Zappers who also provide inspection, service, and support throughout the ownership lifecycle.

The announcement is based on a press release statement from Zapp EV and aligns with the company’s broader objectives to scale its business in Europe. With a current market capitalization of just $2.57 million and an InvestingPro Financial Health Score rated as "WEAK," investors should note that forward-looking statements included in the press release are subject to various risks and uncertainties, and actual future events could differ from current expectations. InvestingPro analysis reveals 18 additional key insights about ZAPP’s financial position and market performance. Zapp EV’s filings with the U.S. Securities and Exchange Commission provide detailed information on these risks.

Investors and consumers in the electric vehicle market will be watching closely as Zapp EV’s partnership with Michael Grant Zapp Limited unfolds, potentially influencing the urban mobility landscape in Ireland. The company’s stock, currently trading near its 52-week low of $0.50, has seen a significant decline of over 79% in the past six months.

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