Garini Group Boosts Evader Order by Additional 3,000 Units
RIO DE JANEIRO, Brazil--Oct. 2, 20050, 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 the Garini Group of Brazil (www.garini.com.br) (www.evader.com.br,) has increased their initial order of 2,255 units by another 3,000. This totals 5,255 scooters that the Garini Group has officially ordered to be shipped to the Evader/Garini assembly plant in Manaus, Brazil.The 3,000 bikes represent further a value of BRL 17,840,000 (Brazilian Reais) (US$7,433,333) bringing the total value of this first order to US$17,657,333. As before, the bikes will be shipped in CKD (Complete Knockdown) form, and are expected to start to ship to Manaus before the end of October or early November. The scooters will be assembled within the free zone in Manaus to take advantage of huge government incentives that significantly reduce their import duty.
Julio de Almeida, Evader's President of Latin American Operations: "Here at the Sao Paulo Two-Wheel Show, the response to Garini and Evader has been very good. Based on the reception we have received so far, we expect enormous sales as a result of this show. Also, this additional order by Garini gives Evader a huge boost in Latin America."
"Our aim is to become the largest distributor of quality scooters in Latin America within the next 18 months," said Alceu Aragao, the President and CEO of the Garini Group of companies. "With our assembly plant scheduled to be up and running by November 30, 2005, we will be in position to achieve that goal." He continues: "As I mentioned before, Garini offers the highest quality and best value to the Brazilian consumer. Our partnership with Evader will allow us to rely on high quality products for years to come."
These orders, which total 5,255 units, are targeted for the Brazilian market only and are secured by two letters of credit from Garini. The Garini Group is expecting orders to begin materializing for the rest of South America within the next 90-120 days.
About Brazil
With a population of 186,000,000 and an average age of 27, Brazil is ideal for the motorscooter market, particularly electric scooters. It has the most powerful economy in South America, the 10th largest economy in the world and has a very up-tempo lifestyle. The under 125cc motorcycle market in Brazil currently stands at 1,300,000 units per year with scooters the dominant sales leader in this category.
About the Garini Motorcycle Group
Based in Rio de Janeiro, Brazil with offices in Miami, Florida and Hong Kong, the newly formed, privately owned Garini Group is rapidly expanding its distribution network in South America, which now includes more than 400 dealers. The financially strong Group intends to continue expansion and hopes to be one of the largest motorcycle manufacturers and distributors in Brazil within the next three years.
Garini Motorcycle Group Rua Ricardo Machado 436 Sao Cristovao, Rio de Janeiro, Brazil (www.garini.com.br) (www.evader.com.br,)
About Evader
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, with European operations based in Zug, Switzerland and their Latin American division operating out of Miami, Florida and Sao Paulo, Brazil.
For more information visit our website at www.evader.us.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements other than statements of fact, included in this release, are forward-looking statements that involve risks and uncertainties.