NEW YORK, NY, April 26, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – ILUS International Inc. (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and growing companies in the public safety, industrial, defense and renewable sectors. Following the delay of its previously signed first phase Investment Project deal with the Serbian government, the company announced last week that it was completing a new first phase deal for ILUS EV Technologies and Replay Solutions. ILUS now confirms that it has secured the facility in Kragujevac, Serbia for ILUS EV Technologies to proceed with its Investment Project.
The site in Kragujevac, Serbia is available immediately with existing automotive engineers to be onboarded by ILUS EV Technologies as well as existing machinery for production of the company’s E-Raptor range of commercial electric Utility Vehicles. ILUS expects the first E-Raptor 6x6 models to roll off the Kragujevac production line during the second half of Q3 2023. The vehicles are in high demand for projects following several meetings with European government leaders, resulting from their mandate to invest in sustainable solutions directed at achieving regional emission reduction targets.
In addition to securing the land, facilities, and manpower in Kragujevac for ILUS EV Technologies, further meetings are underway in Serbia this week for the Replay Solutions Investment Project as well as for the much larger Phase 2 government deal.
In its press release last week (21 April 2023), ILUS confirmed that its previously signed first phase Investment Project deal with the Serbian government was originally delayed due to ILUS concerns following the 2022 Serbian General Election and heightened geopolitical tensions in the region. With the resolve of these concerns and the opportunity for acquiring improved manufacturing capability, ILUS is now pressing forward with its production plans in the region. Existing E-Raptor 6x6 stock units as well as additional component parts and machinery are currently being shipped to Serbia. Following successful rollout of the first batch of E-Raptor 6x6 models produced at the Kragujevac facility, production of the new 4x4 model will commence, with all component parts for this model to be sourced from within the region.
“This is an improved deal for ILUS which gives us existing manufacturing capability and the ability to hit the ground running for our E-Raptor manufacturing in Serbia. With several large projects being negotiated in the region, it’s important to have our EV manufacturing base finalized. This deal combined with the Phase 2 deal and the rollout of our ERT vehicle manufacturing plans in the US, will altogether position us well to satisfy growing demand for our broad portfolio of vehicle solutions,” said ILUS Managing Director, John-Paul Backwell.
Following the filing of its Form 10-K Annual Report and confirmation of ILUS’ Industrial subsidiary, QIND’s planned uplist to the NYSE American, ILUS will be providing updates and/or announcements on the following within the next week and a half:
- Hyperion Defense Solutions Counter IED Agreement
- QIND NYSE American listing application
- ILUS Share Lockup and QIND uplist value to ILUS Shareholders
- ERT Fixed Firefighting (Fire Suppression) Systems production
- ERT Acquisitions
For further information on ILUS, please see its communication channels:
Website: https://ilus-group.com
Twitter: @ILUS_INTL
Email: IR@Ilus-Group.com
Source: ILUS
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