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Bulgarian EV maker Sin Cars progresses plans for Dutch market entry

Bulgarian EV maker Sin Cars progresses plans for Dutch market entry Sin Cars Industry's L City Koffer S model. Source: Sin Cars Industry.

SOFIA (Bulgaria), June 24 (SeeNews) - Bulgarian electric vehicle (EV) manufacturer Sin Cars Industry [BUL:SIN] said that it has partnered with Dutch company Johan Kraan Group BV with the aim of delivering production worth 5 million euro ($5.3 million) to the local market in 2023.

Sin Cars signed a sales contract with Johan Kraan Group to deliver electric vehicles worth a total of 280,000 euro for the Netherlands market by the end of 2022, the EV manufacturer said in a bourse filing on Thursday.

Under the contract, Sin Cars will deliver two electric light vans of its L CITY model by August, with a further five to be produced for the Netherlands market until the end of 2022.

The parties are targeting the production and distribution of at least 100 L CITY-branded EVs on the Netherlands market next year.

Sin Cars, in partnership with Johan Kraan Group, is in the process of negotiating potential supply agreements with fleet owners and leasing companies in the Netherlands, the Bulgarian company said in a separate filing earlier this week.

"We have an agreement with a service and maintenance company that has a European network of maintenance services - something that is very important for the sales of L CITY. Potential customers want to know if service and maintenance are arranged locally in the Netherlands. In the coming weeks, a dealer network will be organised to cover the entire Netherlands market," the distribution group's CEO, Johan Kraan, said.

Sin Cars also said that apart from the Netherlands, it has also signed preliminary agreements for the supply, import and distribution of L CITY EVs as well as spare parts and additional components in Belgium and Luxembourg. Distribution contracts are expected to be finalised and signed by the end of 2022.

Founded in 2012 by Bulgarian engineer and racing car driver Rosen Daskalov, the Ruse-based EV manufacturer, which started trading publicly in July 2021, first developed racing car and supercar range SIN. The company unveiled its electric L CITY prototype in 2018 and is now working on expanding the range with electric bus and truck models.

($ = 0.9498 euro)

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