Fox e-mobility AG publishes preliminary figures for 2022 and provides updates on its activities

fox e-mobility AG, a European company specializing in the manufacturing, marketing, and development of compact electric vehicles, has announced its preliminary financial results for the year 2022. Despite the absence of vehicle sales revenue, as the company is still in the development phase, it has managed to reduce its net loss to 2.3 million euros compared to 3.8 million euros in 2021. The report also indicates a total of equity of 67.8 million euros and liabilities of 6.3 million euros as of December 31, 2022.

The company plans to publish the full audited annual financial statements for 2022 by April 30, 2024. Furthermore, it intends to announce the preliminary figures for the 2023 financial year soon.

An important update concerns the addition of Mr. Patrick Bigger to the supervisory board, thus filling the vacant seat since February 2022. The current focus of the company is on attracting investors to finance the next phase of the MIA 2.0 project. Despite regulatory challenges, a partnership with the Yangji group, ensuring an investment commitment of 10 million euros, is in progress. Additionally, a collaboration with VDL for the production of prototypes is being considered.