EV Technology Group Announces Definitive Agreement to Acquire Portfolio of Iconic Automotive ...

TORONTO, Sept. 16, 2022 (GLOBE NEWSWIRE) -- EV Technology Group Ltd. (the “Company” or “EV Technology Group”) (NEO: EVTG, OTCQB: EVTGF, DE: B96A) announces that it has entered into a share exchange agreement (the “Definitive Agreement”) with 1000310362 Ontario Inc. (the “Target”) and its shareholder, to acquire a portfolio of intellectual property including iconic brands Officine Stampaggi Industriali, Fantuzzi, Marazzi and Brewster & Co. (the “Transaction”).

EV Technology Group has a strategy of acquiring iconic, well loved automotive brands and then electrifying them for the future of motoring. This strategic transaction expands the portfolio of brands under EV Technology Group’s control and represents major potential to expand the future landscape of electric motoring. The brands in the acquisition represent the epitome of world-class design and heritage, giving EV Technology Group the ability to leverage on existing brand value, and offer unique luxury EVs, with existing charm and heritage, to customers across the globe. The brands in the Transaction include:

Marazzi, Fantuzzi, Brewster & Co and Officine Stampaggi Industriali - joining the EV Technology Group portfolio of strategic brands

Fantuzzi
Fantuzzi was founded in 1939 by Medardo Fantuzzi, an automotive engineer, in Modena Italy. Medardo and his brother Gino Fantuzzi were involved in building the Maserati A6GCS, Maserati 350S and Maserati 200S during the 1940’s and 1950’s. Medardo went on to work for Ferrari until 1966, where he became known for building bespoke low-production performance cars including the Ferrari Tipo 156 “sharknose” Fantuzzi, additionally working for De Tomaso, Scuderia Serenissima, AMS and Techno, emblematic designs that are still cherished today.