What changed in this filing

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Item 2. Properties

2024-04-01 compared with 2023-06-30 · 19 added, 20 removed, 6 unchanged (87% of the section changed)

We currently own one facility in Changxing, China, which is approximately 165,800 square feet, and is primarily used for engineering and production of vehicle kits of the

Metro® and assembly of certain ECV models for export and logistics operations.

We currently lease nine facilities and offices located in the United States, Germany, Mexico and China.

We currently own one facility in Changxing, China, which is approximately 165,800 square feet, and is primarily used for engineering and production of vehicle kits of the Metro® and

assembly of certain ECV models for export and logistics operations.

We currently lease eighteen facilities and offices located in the United States, Germany, Mexico and China.

One of our existing United States facilities located in

Freehold, New Jersey, is approximately 9,750 square feet and is used primarily for the trial production of our Logistar™ 400 model and warehousing.

Our second existing facility in Freehold, New Jersey is approximately 2,600 square feet and is

used as our corporate headquarters.

Our second existing facility in Freehold, New Jersey is approximately 2,600 square feet and

is used as our corporate headquarters.

The third facility in Howell, New Jersey includes two units with a combined space of 41,160 square feet and is used to supplement the first New Jersey facility for production.

Our leased China facility is

located in Hangzhou, Zhejiang Province, with approximately 15,456 square feet of office space primarily used as regional headquarters, as well as for research and development, supply-chain management, and sales operations.

In January 2022, we established a European Operations Center in Dusseldorf, Germany, which provides marketing support, after-market support and spare-parts warehousing for the

European market.

Our leased China

facility is located in Hangzhou, Zhejiang Province, with approximately 15,456 square feet of office space primarily used as regional headquarters, as well as for research and development, supply-chain management, and sales operations.

In January 2022, we established a European Operations Center in Dusseldorf, Germany, which provides marketing support, after-market support and spare-parts warehousing for the European

Our European Operations Center is approximately 27,220 square feet.

We have also established a local assembly facility in Jacksonville, Florida, where we plan to assemble the Logistar™ 400 and the Teemak™ for eventual sale in

the North American market.

We established a local assembly facility and EV Center in Jacksonville, Florida.

The assembly factory is where we plan to assemble the Logistar™ 400 and the Teemak™ for eventual sale in the

North American market.

We began trial assembling operations at the Jacksonville facility in March 2023.

As of the date of this report, we also leased another EV Center in Jacksonville, Florida of approximately 12,000 square feet as our

flagship EV Center for sales and support functions.

In addition, in connection with our acquisition of TME, we utilize TME’s facility in Herne, Germany, where we are expanding local assembly capacity in the

European Union for production of our European ECV models, including the Teemak® and Logistar™ series, in addition to the Metro®.

In November 2022, we leased a 112,332 square feet manufacturing facility

located in the Aero Industrial Park in Monterrey, Mexico that will house our wholly owned Mexican subsidiary, Cennatic Energy, S.

Our Florida based EV Center is approximately 12,000 square feet and is our flagship EV Center for sales and support functions.

In addition, in connection with our acquisition of TME, we utilize TME’s facility in Herne, Germany, where we are expanding local assembly capacity in the European Union for production of

our European ECV models, including the Teemak® and Logistar™ series, in addition to the Metro®.

In November 2022, we leased a 112,332 square feet manufacturing facility located in the Aero Industrial Park in Monterrey, Mexico that will

house our wholly owned Mexican subsidiary, Cennatic Energy, S.

(“Cennatic Energy”).

Cennatic Energy will manufacture lithium-ion batteries for electric

commercial vehicles.

The purpose of the facility is to enhance the independence of our supply chain for essential components.

Cennatic Energy will manufacture lithium-ion batteries for electric commercial vehicles.

The purpose of the facility is to enhance the

independence of our supply chain for essential components.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties