{"id":385197,"date":"2020-11-19T09:18:10","date_gmt":"2020-11-19T14:18:10","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385197"},"modified":"2020-11-19T09:18:10","modified_gmt":"2020-11-19T14:18:10","slug":"medigus-signs-mou-to-enter-electric-vehicles-and-electric-charging-market","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/medigus-signs-mou-to-enter-electric-vehicles-and-electric-charging-market\/","title":{"rendered":"Medigus Signs MOU to Enter Electric Vehicles and Electric Charging Market"},"content":{"rendered":"<div class=\"mw_release\">\n<p>\n        <strong>Medigus\u00a0plans to form a joint venture with EMuze founders to develop and potentially commercialize EV-based micro-mobility vehicles for urban and logistics transportation. General Motors control systems lead Mr. Alon Davidi will act as Medigus\u2019 EV advisor.<\/strong><br \/>\n        \n      <\/p>\n<p align=\"justify\">\n        <strong>OMER, Israel, Nov.  19, 2020  (GLOBE NEWSWIRE) &#8212; \u00a0<\/strong><br \/>\n        <strong>Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS),\u00a0<\/strong>a technology company engaged in advanced medical solutions and innovative technology, today announced its intention to enter into the electric vehicle and electric charging markets<strong>.<\/strong>\u00a0Medigus signed a non-binding memorandum of understanding with the founders of EMuze (a privately held company that designs and develops electric mobility micro vehicles), to invest in a joint venture, NewCo, for the commercialization of EV micro-mobility vehicles for individual urban use, \u201clast mile\u201d and cargo delivery.<\/p>\n<p>In addition, Medigus appointed Mr. Alon Davidi as special advisor for the electric vehicle and charging market. Mr. Davidi currently serves as system lead at General Motors, managing the development of Low Velocity Maneuvering (LVM).<\/p>\n<p> EMuze&#8217;s unique EVs are characterized by the ability to operate full days on a single charge, heavy duty design suitable for rigid operation, tailored mission-specific designs, Hop on &#8211; Hop off modes, available off-road versions and low cost of operation.<\/p>\n<p>EMuze has already signed a manufacturing agreement with Ningbo Beijing Shen Jian Machinery Technology, which manufactures high-end scooters, E-mobility and skiing machines. Ningbo\u00a0is equipped with advanced machining and inspection facilities, an R&amp;D center, and a training institute. As part of the agreement, Ningbo\u00a0will receive first manufacturing rights for NewCo products.<\/p>\n<p> If the MOU materializes into a definitive agreement,  Medigus shall initially hold 19.99% of NewCo\u2019s share capital on a fully diluted basis in consideration for an initial investment of US$250,000, and may increase its holdings to up to 50.1% by investing up to an additional US$1,100,000 subject to NewCo\u2019s achievement of the milestones as set forth in the MOU.<\/p>\n<p>\n        <strong>About Medigus<\/strong>\n      <\/p>\n<p>Medigus is traded on the Nasdaq Capital Market and the TASE (Tel Aviv Stock Exchange). To learn more about the company\u2019s advanced technology, please visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=o_NO0nwNBFJYLtgrDJ4faXPdQ5ksRJzkCWD5WfuCR51LeolSyBaSHakXfj55ab5BRBOuCu9_gazIyON29mVVlQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.medigus.com<\/a>.<\/p>\n<p>\n        <strong>Cautionary Note Regarding\u00a0Forward Looking Statements<\/strong>\n      <\/p>\n<p>This press release may contain statements that are \u201cForward-Looking Statements,\u201d which are based upon the current estimates, assumptions and expectations of Medigus\u2019 management and its knowledge of the relevant market. Medigus has tried, where possible, to identify such information and statements by using words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201cenvision,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cplan,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201ctarget,\u201d \u201cpotential,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201ccontinue,\u201d \u201ccontemplate\u201d and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words.\u00a0For example, Medigus uses forward-looking statements in this press release when it discusses the MOU signed with the founders of EMuze, or when it discusses the joint venture it plans to form to develop and\u00a0 potentially commercialize EV-based micro-mobility vehicles for urban and logistics transportation.   These forward-looking statements represent Medigus\u2019 expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved, due to inter alia the spread of COVID-19 as well as the restriction deriving therefrom. Nothing in the description herein should be understood or construed as an announcement of the signing of definitive agreements relating to the joint venture, incorporation of NewCo or any contract with Ningbo for the manufacture of EV products. By their nature, Forward-Looking Statements involve known and unknown risks, uncertainties and other factors which may cause future results of Medigus\u2019 activity to differ significantly from the content and implications of such statements. Other risk factors affecting Medigus are discussed in detail in Medigus\u2019 filings with the Securities and Exchange Commission. Forward-Looking Statements are pertinent only as of the date on which they are made, and Medigus undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Neither Medigus nor its shareholders, officers and employees, shall be liable for any action and the results of any action taken by any person based on the information contained herein, including without limitation the purchase or sale of Medigus\u2019 securities. Nothing in this press release should be deemed to be medical or other advice of any kind.<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTI3OSMzODM1OTAxIzUwMDA2NDMzMQ==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/0a9bff11-525b-419d-a8bb-1e2635227c86\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>Contact (for media only)\r\nTatiana Yosef\r\nChief Financial Officer\r\n+972-8-6466-880\r\nir@medigus.com<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Medigus\u00a0plans to form a joint venture with EMuze founders to develop and potentially commercialize EV-based micro-mobility vehicles for urban and logistics transportation. General Motors control systems lead Mr. Alon Davidi will act as Medigus\u2019 EV advisor. OMER, Israel, Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; \u00a0 Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS),\u00a0a technology company engaged in advanced medical solutions and innovative technology, today announced its intention to enter into the electric vehicle and electric charging markets.\u00a0Medigus signed a non-binding memorandum of understanding with the founders of EMuze (a privately held company that designs and develops electric mobility micro vehicles), to invest in a joint venture, NewCo, for the commercialization of EV micro-mobility vehicles for individual urban use, \u201clast mile\u201d and cargo delivery. In &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/medigus-signs-mou-to-enter-electric-vehicles-and-electric-charging-market\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Medigus Signs MOU to Enter Electric Vehicles and Electric Charging Market&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-385197","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Medigus Signs MOU to Enter Electric Vehicles and Electric Charging Market - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/medigus-signs-mou-to-enter-electric-vehicles-and-electric-charging-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Medigus Signs MOU to Enter Electric Vehicles and Electric Charging Market - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Medigus\u00a0plans to form a joint venture with EMuze founders to develop and potentially commercialize EV-based micro-mobility vehicles for urban and logistics transportation. General Motors control systems lead Mr. Alon Davidi will act as Medigus\u2019 EV advisor. OMER, Israel, Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; \u00a0 Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS),\u00a0a technology company engaged in advanced medical solutions and innovative technology, today announced its intention to enter into the electric vehicle and electric charging markets.\u00a0Medigus signed a non-binding memorandum of understanding with the founders of EMuze (a privately held company that designs and develops electric mobility micro vehicles), to invest in a joint venture, NewCo, for the commercialization of EV micro-mobility vehicles for individual urban use, \u201clast mile\u201d and cargo delivery. 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General Motors control systems lead Mr. Alon Davidi will act as Medigus\u2019 EV advisor. OMER, Israel, Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; \u00a0 Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS),\u00a0a technology company engaged in advanced medical solutions and innovative technology, today announced its intention to enter into the electric vehicle and electric charging markets.\u00a0Medigus signed a non-binding memorandum of understanding with the founders of EMuze (a privately held company that designs and develops electric mobility micro vehicles), to invest in a joint venture, NewCo, for the commercialization of EV micro-mobility vehicles for individual urban use, \u201clast mile\u201d and cargo delivery. 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