The distributor committed to purchase a minimum of 500 of Revoltz' Micro-Mobility Electric Vehicles in the coming year
Tel Aviv, Israel, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in electric vehicle charging solutions, advanced medical solutions and innovative internet technologies, today announced that Revoltz Ltd. which is 19.9% held by Charging Robotics Ltd., wholly subsidiary of Fuel Doctor Holdings, Inc. (OTC: FDOC), a Delaware corporation listed on the OTC Market (67.15% owned by Medigus) ,has entered an exclusive distribution agreement in the United State for its advanced micro-mobility EVs, with a leading distributor operating in the homeland security (HLS) and law enforcement sector.
As part of the agreement, the distributor committed to purchase a minimum of 500 units of PORTO, Revoltz' state-of-the-art micro-mobility vehicles in the coming year.
Revoltz has made significant strides in the EV industry with the launch of its flagship model, PORTO, which provides a seamless blend of functionality, sturdy design, and agility, designed specifically for the growing, homeland security (HLS) market and others. The PORTO vehicle has a range of more than 100 km with volume for payload of 250L on a single charge. The PORTO patent protected advanced leaning suspension mechanism ensures best in class stability even under full load. With high volume loading spaces integrated over both axles, the cargo weight is distributed evenly, making for a safe and confident ride with unmatched vehicle dimensions which is extremely beneficial in the HLS market.
"Our entry into the US market, one of the world's largest and most important EV market, represents a major milestone for Revoltz. The PORTO vehicle is a cutting-edge micro-mobility electric vehicle designed as a modular vehicle to enable our partners to use it for a variety of purposes," said Amir Zaid, Chief Executive Officer and co-founder of Revoltz. "We believe that law enforcement and HLS markets represents an untapped market, holding great potential in addition to this initial footprint in the US."
The agreement is for a period of two years and renewable every two years, subject to both parties' consent and pursuant to additional terms related to sales targets. The distributor will provide service and maintenance for the PORTO vehicles as part of the agreement, ensuring high-quality support and longevity for customers.
Forward Looking Statements
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Investor Relations Contact:
Michal Efraty
Investor Relations, Israel
+972-(0)52-3044404
michal@efraty.com
