Zapp EV Reports First Half FY 2024 Financial Results and Raises Business Outlook
DENVER, Colo., Jun 20, 2024 (247marketnews.com)- Zapp Electric Vehicles Group Limited (Nasdaq:ZAPP) reported first half fiscal year, for the six months ended March 31, 2024, financial results, including a reduction in operating loss of $3.1 million compared to $3.9 million in the same six-month period in 2023.
Zapp expects the first i300 customer deliveries in the fiscal fourth quarter of 2024 and sell more than 5,000 units in the fiscal year ended September 30, 2025.
Zapp EV’s Founder and CEO, Swin Chatsuwan, commented, “The distinctive look of i300 is also a fit for purpose form factor. Of an estimated $130 billion and growing in two-wheelers sold globally, we see a large, underserved category of consumers that want superbike specifications but still need the maneuverability of a step-through for the city streets where they spend the most time. After first deliveries of i300 to customers in Europe and Thailand this summer, we expect to scale rapidly in Southeast Asia and India where urban mobility on two wheels is essential.”
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