EQS-Adhoc: fox e-mobility AG: Change in corporate strategy – Profitable business model with short investment horizon

Change in corporate strategy – Profitable business model with short investment horizon

The Management Board of fox e-mobility AG, with the approval of the Supervisory Board, today decided on a fundamental change in corporate strategy.

The fox e-mobility Group is moving away from its goal of operating the MIA 2.0 series production as the sole manufacturer, which would have required further significant capital expenditures in the multi-million range until series production began. This change in strategy significantly reduces the risks for existing shareholders participating in the ongoing rights issue. The MIA 2.0 complete vehicle concept, currently being developed with the new engineering team, is to be profitably marketed, thus achieving dividend-paying profits more quickly for the Group.

Effective immediately, the company is aiming for license production or co-production of the MIA 2.0 by or with a major automobile manufacturer, with fox e-mobility AG acting as the financing and development partner.

Further information can be found in the press releases and presentations on the company's website.