Zapp EV Shares Climb After Receiving Approval for First Customer Deliveries in the UK

Dow Jones07-16

By Connor Hart

Shares of Zapp Electric Vehicles Group climbed after the company said it received approval for its first customer deliveries in the United Kingdom.

The stock gained 8.6% to $12.42 in recent trading. Shares have more than doubled since the beginning of the year.

The London-based electric vehicle brand said Monday that its i300 urban motorcycle has received motorcycle single vehicle approval from the U.K.'s Driver and Vehicle Standards Agency. This approval allows the company's i300 to be used on public roads and will lead to sales of the i300 to Zapp's first customers.

Zapp expects its first deliveries to U.K. customers in August ahead of a wider commercial rollout in the coming months, including in India and additional countries in Europe and Southeast Asia.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

July 15, 2024 14:27 ET (18:27 GMT)

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