Evader and the Schneider Group Partner to Form Alliance in EuropeZURICH, Switzerland--July 21, 2005--Bellevue, Washington, based Evader, Inc. (www.evader.us.) (Pink Sheets:EVDR), the maker of electric high-performance vehicles powered by their leading-edge EPIC technology is pleased to announce that it has formally partnered with the Schneider Group to form Evader AG.
Evader AG will now position all sales by the Schneider Group under the Evader banner. The financial partnership will help streamline all European operations and will allow Evader AG to concentrate their buying efforts, increase margins and centralize their parts and accessories operations. In addition, the company has started the construction of a new assembly plant in Poland that will supply product to all 25 of the European Union countries. By assembling in Poland all EU consumers will be able to benefit from several tax and duty efficiencies. The facility in Poland is scheduled to go online by the end of the second quarter in 2006.
"Anticipated demand for the new 2006 models has forced us to take this action now," said Daniel Schneider, Evader's President of European operations. "The cost savings of setting up such a facility makes sound financial sense and will be good for Evader as well as the consumer. It was also important to centralize operations before we receive our first shipments of the new 2006 models. Initially all of our products will be manufactured in our Asian facility but we expect to transition assembly to Poland in time for the 2007 models. Evader is now positioned to make a major move in Europe."
"This is the first big step in executing Evader's long term business strategy for the European market," said Evader's President of Global Distribution, Robert Stoneham, "the EU is maybe our biggest and most profitable market in the World and Evader AG will allow us to maintain a competitive advantage in the market place."
Daniel Schneider will serve as the President and CEO of the new entity that will be based in Zug, Switzerland, and be responsible for all day-to-day operations.
Evader (www.evader.us) is a developer and manufacturer of advanced technology electric vehicles. Evader's all new, 4th generation proprietary technology was developed in the United States and is incorporated into all Evader products. Evader's corporate headquarters are in Bellevue, Washington, European operations are based in Zug, Switzerland, and their Latin American division operates out of Coral Springs, Florida.
For more information visit our website at www.evader.us.