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VIVOPOWER'S TEMBO LAUNCHES THE FULL ELECTRIC TEMBO TUSKER WITH FIRST 50 COMMITTED ORDERS Inaugural partner and customer trials have exceeded expectations Tembo has an initial commitment of 50 orders worth an estimated US

Key Takeaway: VivoPower International PLC, through its subsidiary Tembo e-LV B.V., has launched the Tembo Tusker, an all-electric utility vehicle, and secured 50 committed orders worth approximately US$2.5 million. This innovative vehicle offers a range of configurations and is competitively priced. Initial trials have shown promising results, surpassing expectations, which suggests strong demand in the market. The Tusker aims to enhance Tembo's offerings to B2B customers, focusing on sustainable fleet solutions.

Market Sentiment Analysis

POSITIVE FACTORS

  • Initial commitment of 50 orders worth an estimated US$2.5m.
  • The Tembo Tusker offers competitive pricing, 15% below similar electric utility vehicles.
  • The new launch provides expanded choices for B2B customers in fleet electrification.
  • Customer trials have exceeded expectations, indicating strong market interest.

Full Press Release Details

TEMBO LAUNCHES THE FULL ELECTRIC TEMBO TUSKER WITH FIRST 50 COMMITTED ORDERS
partner and customer trials have exceeded expectations
has an initial commitment of 50 orders worth an estimated US$2.5m
Tusker range complements current conversion kit program, offering more choice
June 5, 2024 - the NASDAQ listed B Corp, VivoPower International PLC ("VivoPower") announced today that its electric
vehicle subsidiary, Tembo e-LV B.V. ("Tembo") has secured its first 50 committed orders for the Tembo Tusker, its full electric
pick up utility vehicle ("Tembo Tusker").
Tembo Tuskers come in both left-hand and right-hand configurations, with single and dual cab options available. They have a base range
of 330 kilometres (with the option to extend to 1,000 kilometres), as well as a payload capacity of 1 tonne, and an unbraked towing capacity
of 750 kilograms. Importantly they are priced at 15% below other comparable electric utility vehicles in the launch markets of Australia
initial order of Tembo Tuskers is being prepared for delivery to partners and customers in Australia, with full on-road homologation
expected to be granted by July 2024.
Tembo Tusker range will augment the Tembo conversion programs, increasing choices for Tembo's B2B customer base and target market.
Depending on where a fleet customer is in their fleet replacement cycle and/or depending on their strategic requirements and total cost
of ownership considerations, Tembo will now be able to offer a choice of a full electric utility vehicle or a conversion of an existing
utility vehicle. This expanded offering underscores Tembo's commitment to providing tailored solutions to meet the diverse requirements
of its global customer base.
broadly, VivoPower's strategic focus remains on delivering purpose-driven sustainable energy solutions to electrify B2B fleets,
encompassing aftermarket solutions, charging, digital twins, software and data analytics, aligning with evolving market dynamics and
regulatory frameworks. The Tembo Tuskers will accelerate the pathway to delivering on this.
is an award-winning global sustainable energy solutions B Corporation company focused on electric solutions for off-road and on-road
customised and ruggedised fleet applications as well as ancillary financing, charging, battery and microgrids solutions. The Company's
core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net-zero carbon status.
VivoPower has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines,
and the United Arab Emirates.
electric utility vehicles (EUVs) are the premier 100% electric solution for ruggedised and/or customised applications for fleet owners
in the mining, agriculture, energy utilities, defence, police, construction, infrastructure, government, humanitarian, and game safari
industries. Tembo provides safe, high-performance off-road and on-road electric utility vehicles that meet exacting standards of safety,
reliability, and quality. Its core purpose is to provide safe and reliable electrification solutions for utility vehicle fleet owners
globally, helping perpetuate useful life, reduce costs, maximise return on assets, meet ESG goals and activate the circular economy.
Tembo is a subsidiary of the Nasdaq listed B Corporation, VivoPower International PLC.
communication includes certain statements that may constitute "forward-looking statements" for purposes of the U.S. federal
securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other
characterisations of future events or circumstances, including any underlying assumptions. The words "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intends," "may,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the achievement
of performance hurdles, or the benefits of the events or transactions described in this communication and the expected returns therefrom.
These statements are based on VivoPower's management's current expectations or beliefs and are subject to risk, uncertainty,
and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes
in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower's
business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes
in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes
in general economic conditions, geopolitical events and regulatory changes, and other factors set forth in VivoPower's filings
with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower
is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result
of new information, future events, changes in assumptions or otherwise.

Frequently Asked Questions

What is the Tembo Tusker?

The Tembo Tusker is a full electric utility vehicle with both single and dual cab options.

How many Tembo Tuskers have been ordered so far?

There are currently 50 committed orders for the Tembo Tusker, valued at approximately $2.5 million.

What is the range of the Tembo Tusker?

The Tembo Tusker has a base range of 330 kilometers, extendable to 1,000 kilometers.

When will the Tembo Tuskers be delivered?

Delivery of the initial orders is being prepared, with full homologation expected by July 2024.

Where does VivoPower operate?

VivoPower operates in Australia, Canada, the Netherlands, the UK, the US, the Philippines, and the UAE.

Last updated: Jun 5, 2024