Monday, August 2, 2021

Polish government invests in the electric car startup, Izera

 Polish Treasury has signed an investment agreement with ElectroMobility Poland (EMP), according to which the state will acquire new shares of the company worth PLN 250 million ($65,155,000).  The signing of the contract and the capital injection into EMP enable the next stage of development of the Polish brand of electric cars. The existing shareholders of the company remain in the minority shareholding structure, ”the company said.

The recapitalization of the EMP will allow, among others, a preparatory work related to the construction of the Izera factory in Jaworzno, the company told Polish Press Agency (PAP).

The ElectroMobility Poland was established in October 2016 and was an initiative of four Polish energy companies - PGE, Energa, Enea, and Tauron, which each covered 25% of capital. The initial capital was PLN 70 million.