the NASDAQ listed B Corp, VivoPower International PLC (“VivoPower”)
announced today that its electric vehicle subsidiary, Tembo E-LV
B.V. (“Tembo”) has secured a minimum 200 committed Tembo Tuskers,
its full electric pick up utility vehicle (“Tembo Tusker”) for
delivery to customers and partners in Australia and New Zealand by
February 2026.
This is following Australian pick up truck sales
in May 2024 of approximately US$700m (source: VFACTS/FCAI, 4 June
2024) and stronger than expected interest at a leading Australian
mining focused trade show.
The Tembo Tuskers come in both left hand and
right hand configurations, with single and dual cab options
available. They have a base range of 330 kilometres, as well as a
payload capacity of 1 tonne, and an unbraked towing capacity of 750
kilograms. Importantly they are priced at 15% below other
comparable electric utility vehicles in the launch markets of
Australia and New Zealand. The initial order of Tembo Tuskers is
being prepared for delivery to partners and customers in Australia,
with full on-road homologation on track to be granted by July
2024.
Tembo will now seek to fast track its strategy
of bringing the Tuskers to other markets where it has customers and
partners, including the United Arab Emirates, Africa, Europe, Asia
and Canada, amongst others.
The Tembo Tusker range will augment the Tembo
conversion programs, increasing choices for Tembo’s B2B customer
base and target market. Depending on where a fleet customer is in
their fleet replacement cycle and/or depending on their strategic
requirements and total cost of ownership considerations, Tembo will
now be able to offer a choice of a full electric utility vehicle or
a conversion of an existing utility vehicle. This expanded offering
underscores Tembo's commitment to providing tailored solutions to
meet the diverse requirements of its global customer base.
More broadly, VivoPower’s strategic focus
remains on delivering purpose-driven sustainable energy solutions
to electrify B2B fleets, encompassing aftermarket solutions,
charging, digital twins, software and data analytics, aligning with
evolving market dynamics and regulatory frameworks. The Tembo
Tuskers will accelerate the pathway to delivering on this.
About VivoPower
VivoPower is an award-winning global sustainable
energy solutions B Corporation company focused on electric
solutions for off-road and on-road customised and ruggedised fleet
applications as well as ancillary financing, charging, battery and
microgrids solutions. The Company’s core purpose is to provide its
customers with turnkey decarbonisation solutions that enable them
to move toward net-zero carbon status. VivoPower has operations and
personnel covering Australia, Canada, the Netherlands, the United
Kingdom, the United States, the Philippines, and the United Arab
Emirates.
About Tembo
Tembo electric utility vehicles (EUVs) are the
premier 100% electric solution for ruggedised and/or customised
applications for fleet owners in the mining, agriculture, energy
utilities, defence, police, construction, infrastructure,
government, humanitarian, and game safari industries. Tembo
provides safe, high-performance off-road and on-road electric
utility vehicles that meet exacting standards of safety,
reliability, and quality. Its core purpose is to provide safe and
reliable electrification solutions for utility vehicle fleet owners
globally, helping perpetuate useful life, reduce costs, maximise
return on assets, meet ESG goals and activate the circular economy.
Tembo is a subsidiary of the Nasdaq listed B Corporation, VivoPower
International PLC
Forward-Looking Statements
This communication includes certain statements
that may constitute “forward-looking statements” for purposes of
the U.S. federal securities laws. Forward-looking statements
include, but are not limited to, statements that refer to
projections, forecasts or other characterisations of future events
or circumstances, including any underlying assumptions. The words
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intends,” “may,” “might,” “plan,” “possible,” “potential,”
“predict,” “project,” “should,” “would” and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking.
Forward-looking statements may include, for example, statements
about the achievement of performance hurdles, or the benefits of
the events or transactions described in this communication and the
expected returns therefrom. These statements are based on
VivoPower’s management’s current expectations or beliefs and are
subject to risk, uncertainty, and changes in circumstances. Actual
results may vary materially from those expressed or implied by the
statements herein due to changes in economic, business, competitive
and/or regulatory factors, and other risks and uncertainties
affecting the operation of VivoPower’s business. These risks,
uncertainties and contingencies include changes in business
conditions, fluctuations in customer demand, changes in accounting
interpretations, management of rapid growth, intensity of
competition from other providers of products and services, changes
in general economic conditions, geopolitical events and regulatory
changes, and other factors set forth in VivoPower’s filings with
the United States Securities and Exchange Commission. The
information set forth herein should be read in light of such risks.
VivoPower is under no obligation to, and expressly disclaims any
obligation to, update or alter its forward-looking statements
whether as a result of new information, future events, changes in
assumptions or otherwise.
Contact
Shareholder Enquiries
shareholders@vivopower.com
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