Zapp EV reported a net loss of $9.0 million in 2024 with plans for growth in 2026.

From GlobeNewswire: 2025-01-31 06:05:39

Zapp Electric Vehicles Group Limited, owner of Zapp electric vehicle brand, reported financial results for fiscal year ended September 30, 2024. The company opened a micro-factory in Thailand, capable of producing 21,500 units/year for the Thai market and other key markets. The i300 model received design awards and homologation in Thailand and UK, with plans for Europe. Financially, the company reported a net loss of $9.0 million in 2024, with operating loss of $6.2 million. Zapp anticipates positive cash flow from operations in 2026. Zapp will host a conference call on February 4, 2025, and further details can be found on their website.

Zapp Electric Vehicles Group Limited released their financial statements, showing total assets of $5,395.5 million and total liabilities of $27,911.9 million. The company reported an operating loss of $6,231.5 million in 2024. Cash flow from operations was -$4,883.9 million, with net increase in cash of $676.4 million. For more details, the full financial statements are available in their Form 20-F report.



Read more at GlobeNewswire: Zapp EV Reports Fiscal Year 2024 Financial Results