Scorpio Electric Clinched US$6.75 Million In Funding at Valuation of US$150 Million
- Written by Reporters
- Scorpio Electric secured US$6.75 million* investment at US$150 million valuation as the brand works towards the production of their first international product
- The Scorpio Electric X1 will commence production and global deliveries in second half of 2023
The issuer is solely responsible for the content of this announcement.
About Scorpio Electric
Founded in 2017, Scorpio Electric is a Singapore-based electric motorcycle manufacturer focusing on design, performance, and technology. The Company is backed by EuroSports Global Limited. Scorpio Electric aims to be a global brand and technology innovator in the two-wheel electric space, focusing on developing sleek electric motorcycles that share a symbiotic relationship with the user through smart capabilities as they seek to be at the forefront of new sustainable mobility adoption. For more information, please refer to: https://www.scorpioelectric.com or their related social media platforms @scorpioelectric
About EuroSports Global Limited
Established in 1998, EuroSports Global Limited has a long history in the specialisation of distribution of ultra-luxury and luxury automobiles and provision of after-sales services. Its Automobile Sales business retails new ultra-luxury and luxury automobile brands and pre-owned automobile brands comprising of Lamborghini and Touring Superleggera. EuroSports Global Limited has been the sole authorised dealer for Lamborghini in Singapore since 2002 and Indonesia since 2018, and the exclusive distributor for Touring Superleggera in Singapore, Malaysia, Brunei and Indonesia and non-exclusive distributorship in the PRC since October 2012. EuroSports Global Limited is investing in Scorpio Electric to develop a sustainable mobility solution in the form of electric motorcycles. This press release has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.The contact person for the Sponsor is Mr Mah How Soon, Registered Professional, 36 Robinson Road, #10-06 City House, Singapore 068877, sponsor@rhtgoc.com
Source https://www.media-outreach.com/news/singapore/2023/01/13/192538/