ELARIS AG Announces Plans for Initial Public Offering (IPO)

ELARIS AG, an e-mobility company pioneering in affordable electric vehicles, has disclosed its intention to launch an Initial Public Offering (IPO). The company aims for a listing of its 12.1 million shares on the Munich Stock Exchange's Open Market, specifically targeting the m:access trading segment. The firm has submitted the necessary securities prospectus to the German Federal Financial Supervisory Authority (BaFin), anticipating approval shortly. The initial listing is projected for March 2024, with plans for a subsequent XETRA listing.

Focusing on affordable e-mobility, ELARIS has partnered with leading Chinese electric vehicle manufacturers to offer a tailored vehicle range for European markets, including microcars, SUVs, sedans, and vans. The brand emphasizes customized solutions to suit specific customer needs, leveraging software modifications for unique global offerings. ELARIS cites a key vehicle priced below EUR 21,000 (excl. VAT) as the most affordable electric car in its lineup.

The company's expansion strategy centers on enlarging its model range, widening sales networks, and venturing into new international markets, leveraging local distributor partnerships in countries like the Netherlands, Italy, and the Czech Republic. With a sales network extending to Germany, Austria, and Switzerland, ELARIS also envisions enhancing its charging infrastructure solutions, positioning itself as a comprehensive e-mobility provider.

Founded by Lars Stevenson, who, along with his wife, holds over 90% of ELARIS shares, the company anticipates that the IPO will significantly bolster its market position and contribute to the global energy transition toward sustainable mobility. ELARIS' partnership with major vehicle manufacturers and its focus on affordable electric vehicles and charging solutions underscore its commitment to innovation in the e-mobility sector.