ELARIS AG / DE000A37FT17

Bad Dürkheim, 10 October 2024 – ELARIS AG (‘ELARIS’, ISIN DE000A37FT17) is reacting to the decision of the EU Commission to impose punitive tariffs on Chinese e-cars. In this context, ELARIS is considering the option of manufacturing its e-vehicles using the SKD (semi knocked-down) process outside the People's Republic of China. To this end, ELARIS is currently in promising talks with several potential partners from three different countries. The necessary regulatory, customs and tax law reviews are already at an advanced stage, too. Based on the current situation, ELARIS is aiming to reach an agreement with a suitable partner in the current year and to start production soon afterwards. For the SKD method, the supplied components are assembled on site to form a complete vehicle. With SKD production in a corresponding third country outside of China, ELARIS combines low operating and production costs with proven product quality and would nonetheless not be affected by possible EU punitive tariffs. In this way, ELARIS can offer needs-based e-cars at affordable prices. Lars Stevenson, Founder and CEO of ELARIS AG: "The EU Commission is doing its customers a disservice if it artificially increases the price of low-priced electric cars with punitive tariffs. This will slow down the development of electric mobility for everyone, especially in the small car segment. ELARIS therefore began to examine the possibility of SKD production many months ago and is currently in intensive and promising discussions with several qualified production partners. This is ELARIS' contribution to the energy transition and the democratisation of the e-car market.” Press Contact and Investor Relations edicto GmbH
Axel Mühlhaus / Svenja Liebig
+49 69 90550 556
elaris@edicto.de