CIBOX: Cibox creates its factory in France – 2022-06-02 at 19:05

Electric micro-mobility

Cibox creates its factory in France

June 2, 2022.

Cibox, a French company listed on Euronext Paris, is setting up its industrial tool in Revin on the Porcher wasteland.

The Board of Directors, meeting on June 2, 2022, took note of the commitments received from its public partners, and decided to announce the creation of its plant in Revin.

The first productions of electric bicycles are planned for the beginning of 2024. This project, which amounts to approximately 20 million euros, is the subject of technical and financial support from the State, the Grand East, of the Community of Communes Ardenne Rives de Meuse and Ardennes Development. The 16,000 m2 site will house a modern, integrated and automated production tool, and will generate around a hundred jobs after the first year of operation.

I. Cibox internalizes its production to accelerate its development on the French and European market

Since 2014, Cibox has positioned itself in the electric micro-mobility sector, and since 2020 has been one of the leaders of the French electric scooter market. Its expertise is based on skills in electronics that the company has developed since its creation in 1995, allowing it since 2018 to design its own products. Naturally, the company has put this expertise at the service of all electric micro-mobilities, including the VAE (electrically assisted bicycle) which in 2021 represents a third of its activity.

Today, in a tense socio-economic context with soaring energy and transport prices, electric mobility solutions represent an inexpensive means of transport that is better for the environment than the car.

The bicycle and electric scooter markets are experiencing strong and regular growth in a context of changing modes of transport on journeys of 3 to 15 kilometers. In 2021, their growth exceeded 30% in volume to reach, cumulatively, a number of sales equivalent to that of the car market in France. The projections on the European market open the door to considerable development opportunities. In 2020, in a European bicycle market of 20 million units, 4 million were already electric bicycles. In 2030, sales of pedelecs will exceed those of mechanical bicycles, representing an annual market of more than 15 million units out of a total of 30 million. As more than 80% of bicycle production for Europe is based on the continent, the need for new pedelec production capacity will amount to 10 million units per year by 2030.

Cibox already controls most of the value chain of its products from its headquarters located in Ile de France where the company, from its design office, works on design, conception, technical and software development, qualification of component suppliers, as well as marketing, up to after-sales service. Cibox intends to make this industrial tool a growth accelerator by internalizing its production.

“We are already designing and developing our products. From now on we will manufacture them in France to improve our competitiveness. Using automated machinery, we will produce competitive mobility products from our factory and optimize our cash flow through shorter supply cycles. We will integrate high-value production processes, sometimes unique in France and Europe, representing up to 2/3 of an electric bicycle: battery packs, frames, paint, wheels, assembly of the finished product. We will be able to better enrich our offer thanks to shorter lead times and greater flexibility (batteries, frames, colors). The supply will be facilitated by the reduction of the dependence on the key components and the reduction of the exposure to the risks related to the geopolitical context or to transport. Finally, we will be able to offer a service across the entire chain with a center for customers and partners: international spare parts management, 3R “Repair, Reconditioning, Recycling” workshop.

We would like to thank all the public authorities who support us in this project and allow us to establish ourselves in this territory which has a strong industrial culture. »

Georges Lebre, CEO of Cibox

II. Activity and calendar

Cibox will mainly produce electric bikes at its future Revin industrial site, but also electric scooters, electric cargo bikes and other new mobility formats for families and professionals. They will be manufactured for the company’s brands (yeep.me, Scooty) but also for other players, in order to support innovative mobility startups in particular. The factory will be able to produce 150,000 units per year.

The project has been studied for several weeks by the services of the State, the Grand Est Region and the Community of Municipalities Ardenne Rives de Meuse. The ratification of the support of the Region and the Community of Communes will be the subject of a formal vote by the respective elected officials in June 2022.

Rehabilitation work should start at the end of summer 2022. Cibox plans to set up its repair, reconditioning and recycling activities during the first quarter of 2023, generating around twenty jobs on site. The industrial tool should be fully operational by the first quarter of 2024.

III. Funding

The site, property of the Community of Communes, will be rehabilitated with the assistance of the State and the Grand Est Region for an estimated overall cost of 16 million euros, subsidized at 50%. The site will be made available to Cibox via a lease with an option to purchase.

The production equipment represents an investment of more than 4 million euros and is the subject of a subsidy from the State and the Grand Est Region to the tune of 1.8 million euros.

Next meeting: turnover of 2

^th

quarter of 2022, July 21, 2022, after trading

Find all the information on: www.ciboxcorp.com

About Cibox

Founded in 1995, Cibox is a French technology company specializing in consumer electronics. Over the years, Cibox has acquired extensive experience in the design of technological products that meet the expectations of consumers and distributors.

Today, the offer mainly revolves around a range of innovative products dedicated to electric micro-mobility (scooters, electric bikes, accessories). Our job is to design, manufacture and maintain soft mobility products and services for journeys of 3 to 30 km, whether personal or professional. In order to promote its innovative solutions, Cibox has developed its own product brands (Scooty and yeep.me) and a rental service dedicated to businesses (yeep.me SHARE).

Cibox also offers electronic storage and mobile telephony products and tailor-made project support solutions for major retail chains.

In 2021, CIBOX achieved a turnover of €16.0 million, up by +11%.

The CIBOX share is listed on Euronext in Paris (CIB – FR0000054322). It is eligible for PEA, PEA-PME and SRD long only.

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