- EUR 140 Million to be invested in a disruptive and fully connected 
micro-factory in Lovech, Bulgaria.

- With the capacity of up to 30,000 vehicles per year, the start of production 
is expected in Q1, 2024.

- The project underpins company's decentralized global growth strategy, 
leveraging its disruptive Internet of Production and game-changing 
micro-factory. 

Next.e.GO Mobile SE, the German battery electric car manufacturer, announced on 
Wednesday that it has entered into an agreement in Bulgaria to build its second 
new micro-factory in Lovech.

Photo - 
https://mma.prnewswire.com/media/1574355/eGO_digital_micro_factory_in_Aachen.jpg 
 
In a public ceremony at the Ministry of Economy of Bulgaria, under the 
leadership of Minister Kiril Petkov, the parties signed an agreement under 
which Next.e.GO Mobile Bulgaria AD will build a disruptive and highly connected 
micro factory in Lovech. With the capacity of up to 30, 000 vehicles per year, 
the start of production is scheduled for Q1,2024. The factory is intended to 
create up to 1,000 new jobs in the region. The new facility will be a 
cyber-physical twin of the original Industry 4.0 factory in Aachen, Germany – 
first of its kind fully connected micro factory in the BEV industry - 
leveraging the Internet of Production architecture and advanced automation.

"This strategic agreement is another key milestone in Next.e.GO Mobile's 
decentralized growth, leveraging our game-changing micro factory and product 
architecture in transforming the global urban mobility. Our technology, the 
unique production and the entire eco-system that we create set us apart and 
expand our ecological and economic contribution far beyond our factories into 
countries and local communities", said Ali Vezvaei, Chairman of the Board of 
Next e.GO Mobile SE. "We are very pleased to expand our footprint into Bulgaria 
- a country with amazing human capital, competitive terrain and well-developed 
tech and industrial clusters."  

Next.e.GO is accelerating the transition to zero-emission urban mobility by 
producing one of the most sustainable and purpose-built urban BEVs. It is 
designed to combine affordability with superior durability, ultra-low total 
cost of ownership with unrivalled lifecycle sustainability. And crystalizing 
this into an exciting driving experience like no other urban BEV. 

Founded in Germany and leveraging its deep integrated engineering and 
production know-how, known as Internet of Production with creating low capex 
and highly flexible connected micto-factory, Next.e.GO Mobile has successfully 
progressed on its global expansion plans. Besides the running factory in 
Germany and the planned facility in Bulgaria, the company had announced earlier 
the intention to replicate its cyber-physical micro factories in Greece and 
Mexico. The e.GO Life Next model is already available and being sold in 
Germany. In 2022, the company plans to introduce the next generation of the 
e.GO Life model and its derivatives including e.GO Life Cross. 

SOURCE  Next.e.GO Mobile SE