EV Technology Group underpins ambition to grow with plans to open all-new EV centre of excellence in Silverstone

TORONTO, ON (09 AUGUST, 2022) – EV Technology Group Ltd. (the "Company" or "EV Technology Group") (OTCQB: EVTGF, NEO: EVTG, DE: B96A), announces today that it has entered into terms with MEPC #silverstone Park ("Silverstone Park"), securing a 90,000 sq ft industrial lease at the historic motoring site. The new facility comprises #ev Technology Group's "EV Centre of Excellence", and has been constructed by MEPC, and is a part of MEPC's latest 265,000 sq ft development at #silverstone Park.

This announcement follows the recent announcement of the proposed acquisition by #evtechnologygroup of Fablink Group Holdings Limited, ("Fablink"), a tier one contract manufacturer in the United Kingdom, which operates seven manufacturing and assembly sites with over 750 employees. Fablink operates its 'Streamline Automotive' Division, which services the increasing demand in the U.K. for contract vehicle assembly services, especially in the electric vehicle sector. The new #silverstone facility will allow #evtechnologygroup and its subsidiaries to rapidly expand electric vehicle manufacturing and assembly capacity, supporting its vision of electrifying iconic brands.

As #evtechnologygroup looks to expand its house of brands, this state-of-the-art facility will be home to the Company's electric vehicle engineering and development hub, whilst also providing world class facilities for Streamline #automotive for vehicle assembly and finishing.

Silverstone itself has a rich #automotive history - hosting legendary motorsport events like the Formula One. Beyond its history, the site presents an opportunity to take advantage of the large, skilled local labour pool within commuting distance of the site. #silverstone Park is seeing the development of many electric vehicle and technology related businesses, increasing talent density and #corporate linkages in the area. For example, the #silverstone Technology Cluster has been formed to support engineering, electronics and software companies in the region as they grow.

Wouter Witvoet, CEO and founder of #evtechnologygroup, said: "Silverstone has been the home to many iconic motoring stories - and our future electrifying iconic brands here will be part of its next chapter. The site's location puts us in the heart of the booming UK #ev industry, and will allow us to scale manufacture and assembly of electric brands such as the iconic MOKE".