Report ESPI 14/2021

The Management Board of Berg Holding S.A. with its registered office in Katowice [Company, Issuer] informs about the planned strategy of operations of the Issuer’s associated company – ELON MOTORS S.A. with its registered office in with its registered seat in Gdańsk [ELON MOTORS, Associated Company] for the years 2021-2023.

The partnership ELON MOTORS, in which the Issuer took up 21% of shares, was established by the Company and four natural persons, one of whom, i.e., Mr. Łukasz Rosiński is a member of the Issuer’s Supervisory Board, on 4 December 2020, about which the Company informed in the current report ESPI no 74/2020.

The core business of ELON MOTORS includes manufacturing, distribution, building sales market and organizing all operational activities related to production, distribution and sale of motorcycles, motor scooters,
scooters and electric bicycles.

The Associate’s strategy for 2021-2023 includes:

1. Development of ELON MOTORS brand as a manufacturer and distributor of electric vehicles on the Polish market.

2. Creating customized products and services based on motorcycles, scooters, bicycles, motor scooters and electric bikes.

3. Designing of own line of gadgets dedicated for electric vehicles.

4. Expanding the distribution of products and services under ELON MOTORS brand to the markets of Europe, North and South America and Africa.

5. Research and development in the field of electromobility.


Optimization of the production lines managed by the associated company.

The associated company plans to carry out its business based on the following cooperation models:

1. Business to Customer [B2C] – development of sales through online store and sales platforms like Allegro or Amazon and the system of own and franchise outlets.

2.Business to Business [B2B] – development of sales of electric vehicles, i.e. mainly motor scooters and scooters for companies as a means to generate savings in the company.

The main sales assumptions of the presented strategy assume generating revenues from sales of the vehicles offered, respectively, of about 3.2 million PLN in 2021, about 6.1 million PLN in 2022 and about 12.7
million PLN in 2023.

The Issuer will inform about updates or changes to the information covered in this report by way of relevant current reports.

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