Key milestone reached with ZF – Miltenyi Biotec acquires ZF held shares

Aachen, January 22, 2021 – The People Mover developed by e.GO MOOVE GmbH received initial road approval for public road operations at the end of December 2020. The vehicle manufacturer status of e.GO MOOVE GmbH was as well confirmed by the German Federal Motor Transport Authority (KBA).

In addition,  at the end of the year, Miltenyi Biotec B.V. & Co. KG from Bergisch Gladbach, Germany, acquired ZF's shares in e.GO MOOVE GmbH as part of the next financing round. ZF remains on board as a key system partner and supplier of vehicle actuators. The parties agreed not to disclose any further transaction details.

Stefan Miltenyi, founder and CEO of Miltenyi Biotec, is well aware of the challenges of last mile transportation from his employees commuting by public transport at Miltenyi Biotec's locations and is therefore looking for innovative solutions. "Both the People Mover and Cargo Mover have great potential. We are truly excited to be a part of  this sustainable mobility solution made in NRW."

e.GO MOOVE welcomes additional investors. "We are pleased that we can now invite further strategic partners as well as investors and to continue product development and series production preparation for the People Mover and the Cargo Mover," said Prof. Dr. Günther Schuh, CEO of e.GO MOOVE GmbH. The first Cargo Mover version is scheduled to be presented to the public as early as spring 2021. The start of series production of the People Mover is planned for the end of 2021.

Miltenyi Biotec B.V. & Co. KG
Miltenyi Biotec B.V. & Co. KG, with headquarters in Bergisch Gladbach, Germany, is a global biotechnology company that, together with its subsidiaries and affiliates, employs more than 3,000 people in 28 countries. Since its foundation in 1989, the company has been a pioneer in biomedical research and has become a leader in the development of curative cell therapies. For more information about the company, please visit http://www.miltenyibiotec.com.

e.GO MOOVE GmbH
Based in Aachen, Germany, e.GO MOOVE GmbH is a manufacturer of light commercial electric vehicles, such as electric minibuses (People Mover) and electric vans (Cargo Mover). e.GO MOOVE was founded in 2018 as a joint venture together with Zukunft Ventures GmbH, Friedrichshafen, a subsidiary of ZF Friedrichshafen AG, on the RWTH Aachen Campus. There,  e.GO MOOVE has access to a unique network of science and industry with over leading 420 technology companies as well as a comprehensive research infrastructure. Agile teams are working on various low-cost, particularly durable electric vehicles for short-distance transport of people and goods. ZF sold its shares in e.GO MOOVE GmbH at the end of 2020 and continues to collaborate within the MOOVE commercial vehicle platform.
www.e-go-moove.com