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EV Electra Secures Future of Emily and PONS Projects through Acquisition from NEVS

Friday, 01 December 2023 09:30 AM


EV Electra Broadens its Horizons: Key Acquisition Drives International Growth in Electric Vehicle Industry Announced at eCarExpo

DEARBORN HEIGHTS, MI / ACCESSWIRE / December 1, 2023 / Today, EV Electra, a trailblazer in the electric vehicle (EV) industry, announced a strategic acquisition of the Emily and PONS product lines and related assets from NEVS (National Electric Vehicle Sweden) during a press conference at the eCarExpo in Gothenburg, Sweden. This acquisition is a landmark move that reinforces EV Electra's commitment to innovation, growth, and the localization of production.

EV Electra, a leading Canadian electric vehicle manufacturer, is delighted to announce the successful acquisition of the Emily GT and PONS projects from NEVS (National Electric Vehicle Sweden). This strategic move signifies a monumental step in EV Electra's commitment to innovation, sustainability, and the revitalization of the automotive heritage in Trollhättan. Today's announcement is further strategic evolution of the company's previously announced signing of the Letter of Intent for the reverse merger (LOI) with DrazCanna, Inc. (OTC Pink:DZCA) that outlines a definitive plan for its reverse merger share agreement expected to close in January 2024.

Speaking at the eCarExpo, Jihad Mohammad, CEO of EV Electra, revealed the acquisition of the Emily and PONS projects from NEVS. This announcement marks a pivotal moment for EV Electra, aligning with its mission to shape the future of the electric vehicle industry. The press conference, held at the prestigious eCarExpo, highlighted the company's dedication to unveiling groundbreaking developments on a global stage.

"Acquiring the Emily and PONS projects from NEVS is a transformative step for EV Electra, symbolizing our unwavering commitment to innovation, sustainability, and the rich automotive heritage of Trollhättan. This marks the beginning of an exciting chapter for EV Electra, and we are eager to share further details as we work towards full-scale production in Trollhättan, Sweden." - Jihad Mohammad, CEO of EV Electra

New Chapter for Emily and PONS Projects

The acquisition team from EV Electra and NEVS worked tirelessly to achieve a shared goal of a new chapter for the Emily and PONS projects, securing their future production at the assembly plant in Sweden. This move underscores EV Electra's commitment to fulfilling the legacy of these leading-edge product lines while leveraging the expertise of the Trollhättan facility.

Emily GT: A Symbol of Innovation and Design Excellence

The Emily GT, which garnered attention earlier this year, captivated the automotive world with its debut. Developed in just nine months by NEVS engineers, the Emily GT received acclaim for its design and technical features. Under EV Electra's ownership, the iconic Emily GT will retain its model name as the EV Electra Emily GT, symbolizing a seamless transition of ownership while preserving the essence of this remarkable electric vehicle.

PONS: Revolutionizing Metropolitan Mobility with Autonomous Electric Vehicle Technology

The PONS vehicle represents an autonomous city mobility service system, contributing to the evolution of urban transportation. The vehicle is at the forefront of driverless technology integrated with real time rideshare algorithms to provide urban dwellers with fast and cost efficient transportation. EV Electra recognizes the strategic importance of the PONS project and is committed to advancing its development in revolutionizing metropolitan mobility with autonomous electric vehicle technology, aligning with the company's vision of a sustainable and technologically advanced future.

EV Electra's New Subsidiary in Sweden

To underscore its dedication to local development and manufacturing, EV Electra is establishing a new subsidiary in Sweden. This subsidiary will play a pivotal role in the evolution of EV Electra with the production of the Emily GT and PONS product lines at the Trollhättan plant. This localization effort aligns with EV Electra's strategy of contributing to the growth and development of the Swedish automotive industry.

"With the establishment of a new subsidiary in Sweden, we are poised to lead the charge in electric vehicle development and production. The future looks promising as we integrate these projects into our portfolio, contributing to the growth of the Swedish automotive industry and expanding our global footprint." - Jihad Mohammad, CEO of EV Electra

Integration with Existing EV Electra Product Lines

While the Emily and PONS projects are significant additions, EV Electra remains committed to its existing product lines as the company focuses upon scaling production at the company's plant in Turkey. EV Electra's branded line of electric vehicles Capital, Nostrum, Rise, QUDS with production at the company's plant in Turkey, contributing to the diversification and expansion of EV Electra's global manufacturing footprint. Efforts at the plant are focused upon scaling up production to meet growing demand for high quality, value priced electric vehicles.

Future Vision: Full-Scale Production in Trollhättan, Sweden

EV Electra has ambitious plans for the Emily line of electric vehicles, with a clear vision to ramp up to full-scale production at its Trollhättan, Sweden EV plant. This strategic move aims to leverage the advanced capabilities of the facility, engineered design, production processes, and talented individuals to position EV Electra as a key player in the European electric vehicle market and beyond.

Commitment to Fostering Capital Partner Relationships

As EV Electra continues its robust growth trajectory, it reiterates its commitment to fostering capital partner relationships. The company sees collaborations as instrumental in fueling innovation, expanding market reach, and accelerating growth. EV Electra invites potential partners to explore mutually beneficial opportunities, recognizing the value of strategic alliances in driving sustained success in the dynamic EV market.

In conclusion, EV Electra's recent announcements mark a pivotal moment in its journey, including announcing this key acquisition drives international growth in electric vehicle industry, reflecting a commitment to innovation, transparency, and strategic growth. The company invites stakeholders, investors, and industry enthusiasts to stay tuned for further updates as it continues to shape the future of the electric vehicle industry.

For inquiries, please contact:

EV Electra LTD

Jihad Mohammad, President
5050 rue de Sorel, suite 107
Montreal QC H3Z 2P9
[email protected]

DrazCanna, Inc.

Jihad Mohammad, President
P.O. Box 600
Dearborn Heights, MI 48127
[email protected]

About EV Electra LTD

EV Electra LTD, headquartered in Canada, holds the distinction of being the pioneering electric automotive manufacturer with its initial Research & Development Center based in Lebanon. Originally established under 'Jihad Mohammad Investments,' EV Electra has evolved into an independent entity, forging its path towards innovation and sustainability.

EV Electra stands as the premier electric automotive manufacturer, rooted in Lebanon and branching out to locations in Lebanon, Canada, Sweden, Germany, and Turkey, all underpinned by a global vision that propels its expansion.

From its inception, EV Electra has been driven by a singular mission: to champion environmental conservation. The company is deeply committed to producing Battery Electric Vehicles with zero emissions, fostering a cleaner, greener future. Fueled by this commitment, EV Electra's dedicated team strives to create an enticing, inventive, and affordable range of electric vehicles. Their collective inspiration lies in becoming a global leader in the transition toward sustainable energy, marking a significant milestone in our world's journey toward environmental responsibility.

About DrazCanna, Inc.

DrazCanna, Inc. (OTC Pink:DZCA) was operating in the educational sector until 2016 and was dormant until 2021 when the corporation filed its reports with regulatory authorities to achieve current status.

Safe Harbor

This press release contains forward-looking statements that involve risks and uncertainties concerning the plans and expectations of EV Electra LTD and DrazCanna, Inc. These statements are only predictions and actual events, or results may differ materially from those described in this press release due to a number of risks and uncertainties, some of which are out of the company's control. The potential risks and uncertainties include, among others, that the company's expectations of future growth may not be realized. These forward-looking statements are made only as of the date hereof. The company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise. All forward-looking statements are expressly qualified in their entirety by the "Risk Factors" and other cautionary statements included in the company's annual, quarterly, and current reports and other filings, including but not limited for the quarter ended September 30, 2023, and filings with the OTC Markets.

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