Incorporated on March 30, 2022, EV Technology Group is a recently created company whose purpose is to “attract iconic brands to the electric vehicle revolution”. In recent days they have acquired a large part of the Moke International company, the firm that has revived the classic MINI Moke buggy by inserting fully electric mechanics.
EV Technology Group, which promises to become a business group made up of “iconic” electric car brands, has acquired a total of 65% of Moke International for a value of 51.6 million dollars with an option to acquire 100% soon of the British company. During a recent interview, its CEO, the Dutch businessman Wouter Witvoet, has confessed that this is the first of several planned acquisitions with the aim of “create and redefine driving pleasure in the electric age”.
As part of the acquisition agreement, all the human team that currently makes up Moke International will remain intactsince today it is working on starting with the first deliveries of its, for now, the only electric model.
In a recent interview with the Coachthe founder of EV Technology Group confirmed that the reason he started this project was with the mission of electrify iconic brands that promote driving pleasure to escape from the paradigm that a car is to go from point A to point B. For this reason, Wouter Witvoet saw that Moke International perfectly embodied this vision.
Regarding the future, although they have several vehicle companies in their sights, “we still have to define what is iconic,” said the businessman, testifying that they will be quite selective with the firms they will buy soon. Witvoet assured that he was attracted by the legacy that the Moke brand possesses, something that will be able to promote an outstanding value for the shareholders and direct clients of the brand in the near future. “Emerging companies without historical background are not a safe investment”admitted the businessman.
The new business group that they want to form through the foundation of EV Technology Group, they hope will position itself as an important and prominent economic pillar for companies that are part of it. Part of this will happen by having financial, personnel and material resources.
According to Wouter Witvoet, “currently many electric car brands have problems in this regard, such as a lack of components or a manufacturing space. This will be something that our companies will not suffer, since they will be strongly backed by the potential of the parent business group”. The founder of EV Technology Group He did not rule out that his project will start preparations to develop a modular platform for electric cars in addition to other components that may be common, so that these are shared by the companies that make up the automobile conglomerate.
However, despite EV Technology Group’s expansion plans, its market is in low-volume, high-margin manufacturing brands. “We will never compete with Tesla or Volkswagen”. At the moment, Moke International is completing the process of starting production of its electric model to start with the first deliveries to customers in the coming months. This model has a starting price of around 34,000 euros (at currency exchange) and will be available for purchase in Europe as soon as the homologation work is completed.