Press Release

 ELARIS AG is pushing ahead with its internationalisation in Italy and Turkey

• Creation of a wholly owned subsidiary of the Elaris Holding in Italy with experienced automotive experts in the management team
• ELARIS fills a gap in the market for compact e-vans and fully equipped small e-cars in Italy
• Licence agreement signed for the distribution of ELARIS products in Turkey

Bad Dürkheim, 16 April 2024 – ELARIS AG ("ELARIS", ISIN DE000A37FT17), an innovative e-mobility company, is further expanding its international market positioning as part of its growth strategy. The ELARIS parent company Elaris Holding GmbH has founded the wholly owned subsidiary ELARIS Italy S.R.L., based in Turin, for further expansion in the Italian market. Experienced automotive experts from Italy have been recruited at management level, including Franco Miniero, who was Managing Director at Fiat-Professional, among others. The economist and experienced marketing, strategy and M&A consultant Fabio Salvati is also part of the management team. In Italy, demand for small electric cars and compact electric vans is particularly high. With the ELARIS CARO-S and the comfortable, fully equipped ELARIS products from the small car segment, ELARIS is closing a gap in the Italian market. In addition, the ELARIS product range is to be expanded to include further electrically powered vehicles that are especially suitable for the Italian market. The Italian market has high growth potential in the field of e-mobility. According to market studies, the number of newly registered electric cars increased in 2023 by almost 35 percent compared to the previous year.  In addition, the government-subsidised "eco-bonus", which will come into force in 2024, will promote the purchase of e-vehicles in Italy, among other things.

ELARIS has also concluded a licence agreement in Turkey for the import and distribution of ELARIS products. The headquarters of the Turkish licence partner ELARIS Özgur Turkey are in Ankara, where there is also a large exhibition hall. Business operations are to commence in the near future.

According to the Turkish Automotive Distributors and Mobility Association (ODMD), domestic sales of electric cars rose by more than 800 percent last year.

Lars Stevenson, CEO and Founder of ELARIS AG: "With the expansion into Italy and Turkey, we are significantly stepping up our internationalisation. E-mobility is becoming increasingly important in both countries.  With our fully equipped e-vehicles from different car classes, we are meeting the high demand for smart e-cars in both markets."

Press Contact and Investor Relations

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Axel Mühlhaus / Svenja Liebig
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