Medigus Announces Its EV Joint Venture, Revoltz Initiates On Exclusive Distribution Agreement Of $2.7M In Revenues And Completes The Production Of The First 50 PORTO Micro-Mobility EVs
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Medigus Ltd. (NASDAQ:MDGS), through its subsidiary Fuel Doctor Holdings, Inc., announced that its EV joint venture, Revoltz Ltd, has completed the first production batch of 50 PORTO micro-mobility electric vehicles. This marks a significant step in fulfilling a $2.7 million distribution agreement aimed at selling 150 vehicles in Israel and adjacent territories within the first year. The PORTO EV, designed for the last-mile delivery market, offers a 100 km range on a single charge and features an advanced tilting suspension mechanism for stability.
March 27, 2024 | 12:02 pm
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Medigus Ltd. announced its EV joint venture, Revoltz, has completed its first production of 50 PORTO EVs, aiming to fulfill a $2.7 million distribution agreement in Israel. This development could significantly impact Medigus' revenue and market position in the EV sector.
The completion of the first production batch of PORTO EVs by Revoltz, a venture partly owned by Medigus, and the initiation of a significant distribution agreement, directly impacts Medigus' potential revenue and growth in the EV market. This positive development is likely to be viewed favorably by investors, potentially leading to a short-term increase in Medigus' stock price.
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