EV TECHNOLOGY GROUP INC.: EV Technology Group's Strategic Partner MOKE International Opens Order Books for the Electric MOKE Californian

• EV Technology Group's strategic partner, MOKE International, has announced that the Electric MOKE Californian is now available to order from MOKE International's new US website (https://mokeinternational.com/) with prices starting at USD$41,900
• A refundable reservation fee of $990 secures customers a build slot
• Sales of the US market-exclusive Electric MOKE Californian are limited to 325 cars per year
• Bespoke design cues include an exclusive reimagination of the original 'Californian' badge
• MOKE International owns the original 1964 MOKE trademark - the Electric MOKE Californian is the first official MOKE vehicle to go on sale in the US since 1982
• The Electric MOKE Californian is the only highway-legal MOKE vehicle on sale in America with a top speed of 50mph (80kph)

TORONTO, Nov. 08, 2022 (GLOBE NEWSWIRE) -- EV Technology Group Ltd. (the "Company" or "EV Technology Group") (NEO: EVTG, OTCQB: EVTGF, DE: B96A) announces that its strategic partner MOKE International Limited ("MIL" or "MOKE International") has launched a new website dedicated to American-based customers wishing to secure a build slot, with prices starting at USD$41,900. Having announced it was returning to America after 40 years, MOKE International has already received strong interest in the new Electric MOKE Californian.

American sales will be limited to 325 cars a year in accordance with the 2015 Low Volume Motor Vehicles Manufacturers Act. After seven years of lobbying from Specialty Equipment Market Association ("SEMA"), the National Highway Traffic Safety Administration ("NHTSA") implemented legislation that allows heritage brands to produce derivatives of any of their models that are over 25 years old, but comply with current Federal safety standards for motor vehicle equipment.

The new Electric MOKE Californian is a faster, more powerful and, crucially, emissions-free reinvigoration of the original car that sold in America between 1977-1982. The Electric MOKE Californian accelerates from 0-34mph (55kph) in 4.3 seconds, while its petrol-powered ancestor achieved the same sprint in around 6.3 seconds. Power is up from 39hp to 44hp.

This limited-run version - only available to buy in the US - also features bespoke styling cues such as the 'Californian' name badge and specially designed MOKE logos.

Isobel Dando, CEO MOKE International, said: "The interest in the Electric MOKE Californian since we announced its return has been huge, although perhaps not surprising considering how popular the original car was. We are thrilled to be able to offer American customers a genuine MOKE vehicle once again."

Wouter Witvoet, CEO and Founder of EV Technology Group said: "Without doubt, the Electric MOKE Californian will go down a storm as it returns to its home territory. Since EV Technology Group started working with MOKE International, the first question from North American investors has been 'when can we buy one?', so I'm confident build slots will soon be at capacity."

Hand-built in the UK, the Electric MOKE Californian has a range of up to 80 miles (120km)* - enough to cruise Route 101 down to Malibu Beach from Santa Barbara - and a top speed of 50mph (80kph), which makes it legal to drive on the highway. This is the first time a highway legal version of the Mini Moke has ever gone on sale in America. A full charge takes four hours on a US Type 1 charger.

Just like the Electric MOKE that is on sale in Europe, the Electric MOKE Californian is a reimagination of the 1964 Mini Moke - MOKE International owns the original 1964 British Motor Corporation MOKE trademarks and is recognized in over 100 jurisdictions as the owner of the MOKE brand.

Since its birth the Mini Moke stood as an emblem of fun and freedom, beloved for decades in coastal locations such as the French Riviera thanks to its open-top design and go-anywhere attitude. Using an electric powertrain, the Electric MOKE and Electric MOKE Californian now play a part in keeping these beautiful locations clean. MOKE International is the first 1960s automotive brand to go 100% electric.

* Subject to Worldwide Harmonised Light Vehicle Test Procedure testing

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About EV Technology Group

EV Technology Group was founded in 2021 with the vision to electrify iconic brands - and the mission to redefine the joy of motoring for the electric age. By acquiring iconic brands and bringing beloved motoring experiences to the electric age, EV Technology Group is driving the EV revolution forward. Backed by a diversified team of passionate entrepreneurs, engineers and driving enthusiasts, EV Technology Group creates value for its customers by owning the total customer experience - acquiring and partnering with iconic brands with significant growth potential in unique markets, and controlling end-to-end capabilities. To learn more visit: https://evtgroup.com/

About MOKE International

MOKE and the MOKE logo are trademarks or registered trademarks of MOKE International Limited in the European Union and other territories. MOKE International, a company registered in England, is the only manufacturer of genuine MOKE vehicles worldwide. The mark was acquired from Casti S.p.A. and derives from the original 1964 British Motor Corporation registration. The MOKE is a revitalized, re-engineered version of the iconic Mini Moke that was originally designed by the legendary Sir Alec Issigonis, the designer of the 1959 Mini, and launched in 1964. The Mini Moke was created as a low-cost and easy to maintain recreational and utility vehicle, but it quickly gained cult status in fashionable resorts such as the French Riviera and the Caribbean. It has been driven by Beatles, Bridget Bardot and James Bond alike. MOKE International has brought the Mini Moke into the modern age by integrating up-to-date driving technologies, including full electric power, while remaining faithful to the iconic design which made it a global hit in the 1960s. True to its heritage, MOKEs today are engineered and built in Northamptonshire, England.

Production takes place at a 500,000sq ft state-of-the-art facility owned and operated by British automotive manufacturing services company, Fablink Group.

Forward-Looking Information

This news release contains forward-looking statements including, but not limited to: the implementation of the 2015 Low Volume Motor Vehicles Manufacturers Act, receipt of approval from Worldwide Harmonised Light Vehicle Test Procedure testing, specifications of and consumer demand for the Electric MOKE Californian or the pricing of the Electric MOKE Californian. Often, but not always, these Forward-looking Statements can be identified by the use of words such as "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "planned", "reflecting", "will", "containing", "remaining", "to be", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements, including those factors discussed under "Risk Factors" in the filing statement, annual information form and base shelf prospectus of the Company. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except where required by law. There can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/884723a3-9125-4267-aa76-0c602a68aba4