CIBOX: Revin plant: Signing of a first commercial and industrial agreement – 2023-01-16 at 19:15


January 16, 2023.

Cibox, a French company listed on Euronext Growth Paris, announces the signing of its first commercial and industrial agreement for the Revin plant.

As described when it was announced in June 2022, the factory project in Revin will produce 150,000 electric bicycles per year with one team, a capacity that can be extended to 250,000 electric bicycles with the addition of a second production team.

First commercial agreement with ZX POWER

Cibox has entered into a first commercial agreement with ZX Power (ZhongXin Power Tianjin Bicycle Co Ltd).

ZX Power designs mobility products including electric bicycles that it manufactures and markets in Asia, Europe and the United States, in the form of finished products or sub-assemblies (particularly frames). Founded in 2015, and growing rapidly, ZX Power has a production capacity in China of 100,000 complete bicycles per month and up to 60,000 frames. It marketed 300,000 bicycles in 2022.

The commercial partnership covers an objective of 100,000 electric bicycles per year manufactured by Cibox on the Revin site, an objective accompanied by a minimum production order of 50,000 bicycles for the first year. In addition, Cibox will rely on the supply capacity of ZX Power for the supply of components purchased in Asia.

Finally, on the industrial side, ZX Power will give CIBOX the benefit of its expertise in the production of micro-mobility machines.

Commenting on the signing of this agreement, Mr. Lebre, Chairman and CEO of CIBOX said: “The conclusion of this collaboration agreement is very important because its realization allows CIBOX to climb a step in the mobility industry and to to optimize the ramp-up of the Revin plant from its first year of operation. »

For Mr. Sung, Deputy Managing Director of CIBOX: “The Cibox team, which integrates the design, engineering and marketing professions in France, will be able to work closely with ZX Power and rely on their know-how in terms of production and industrialization in the field of electric mobility, thus enabling the launch of new products with an optimized Time to Market. »

Mr. Xing, Chairman of ZX Power added:

“ ZhongXin Power and his teams have been working in the field of electric bicycles for several years. Thus, ZX Power has rich experience and strong technical know-how in product development and production capacity. She knows the European and American markets well and has established long-term cooperative relationships with some of the most important international distribution chains. Our cooperation with CIBOX will allow us to combine the best of the resources of both companies, to enrich the product ranges, to rapidly develop the European market, and to expand our market territories and improve after-sales service. We are very confident in the prospects for cooperation between the two parties! »

An evolution of Cibox’s business model via the gradual strengthening of industrial activities

CIBOX’s project to become a benchmark player in micro-mobility will thus take on a new dimension from 2024 with the commissioning of the Revin plant, activating the internalization of the manufacture of electric bicycles and thus completing the knowledge – to do business in terms of design, product development and services.

Also, the business model of the company will evolve, the manufacturing activity will be open to other brands or micro-mobility projects including electric bicycles; with a gradual evolution towards larger contracts. As a result, the company will have two complementary activities:

  1. the sale of CIBOX branded products to major brands and retailers, current activity.

  2. the sale of products and services to other brands thanks to its industrial tool based in Revin: new activity.

This new activity will be an important catalyst for the company’s growth, particularly internationally, and will enable it to improve its competitiveness thanks to the volumes generated. Manufacturing for other brands will be fueled by industry players seeking production solutions close to their market, in this case in Europe.

Plant construction progress

The work of the 3R workshop – Repair, Reconditioning, Recycling, started at the end of 2022 in accordance with the schedule. Cibox plans to start these activities in the spring of 2023.

For the rest of the building, the project manager was appointed by the owner at the end of 2022, after a public call for tenders, and the project is on track with commissioning planned for the second quarter of 2024.

Mr. Sung – Deputy General Manager of CIBOX and Mr. Xing – Chairman ZX Power

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 electric micro-mobility products (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 product brands (Scooty and yeep.me).

In 2021, CIBOX achieved a turnover of €16.0 million, up by +10%.

The CIBOX share is listed on Euronext Growth Paris (CIB – FR0000054322). She is eligible for PEA and PEA-PME.

Contact

: Investor Relations [email protected]


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Full and original press release in PDF format:

https://www.actusnews.com/news/78056-2023.01.16-premier-accord-commercial-usine-revin.pdf

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