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Equitable Access Pioneer, Power Global, Extends Electric Mobility to Emerging Countries with the Debut of the eZeetM Swappable Battery Module

• Company targets markets largely overlooked by electrification with equitable access to clean, low-cost electric mobility • Its first mass-market solution, the eZeeTM Li-ion battery module, will initially target auto-rickshaws, a $16B underserved market • In-country lithium-ion battery facility in India will serve as domestic manufacturing hub for developing regions on site of former

Honda factory

Today Power Global, a leading provider of high-performance clean energy and mobility products for everyday applications, introduced its first mass market product, the eZeeTM swappable battery for light mobility vehicles. The launch of the eZeeTM product line marks the global debut of Power Global, founded by Romeo Power co-founder and former SpaceX engineer Porter Harris and international auto industry veteran Pankaj Dubey, with a mission to provide electric vehicle and clean energy products to global markets that have been left behind in the world’s push toward electrification. Beginning in India, where three-wheeled vehicles represent a TAM of $16B, but rely on two of the most damaging environmental culprits - internal combustion engines (ICE) and lead-acid batteries - Power Global’s eZeeTM offers auto-rickshaw drivers a simple, low-cost path to EV adoption. While traditional EV products carry a high upfront cost of ownership, Power Global solves this problem through their affordable energy-as-a-service membership program. Through this unique subscription service, drivers receive a swappable eZeeTM battery module backed by Power Global’s zero-maintenance lifetime service guarantee. Drivers can either recharge the module at home or swap at Power Global’s convenient kiosks for a fully charged battery in less than a minute. Power Global’s eZeeTM battery module is currently available by subscription pre-order, with initial distribution in Greater Noida, on the outskirts of New Delhi. “We are on a mission to improve access to clean energy solutions in India and other emerging markets by sharing our collective years of expertise in bringing affordable battery technology to market,” said Pankaj Dubey, co-founder and CEO of Power Global’s India subsidiary. “While the eZeeTM will give light mobility vehicles new life, it also represents a path to help build local economies with direct and indirect job creation, while supporting evolving regional environmental goals, such as India’s FAME II mandates.” The company’s first facilities include its in-country battery production plant, located on the site of a former Honda facility in Greater Noida, India, and its R&D lab and battery manufacturing facility in Pasadena, California, which will focus on new product innovations for electric vehicles and stationary storage applications. Soon to be the largest leading domestic manufacturer of lithium-ion batteries in India, Power Global’s initial facilities position the company to easily serve neighboring markets in Bangladesh, Sri Lanka, Egypt, and Nigeria as well as other locations in Southeast Asia and Africa. Following the launch of the eZeeTM battery module, Power Global will announce its first line of Retrofit Kits to convert diesel- and petrol-fueled auto rickshaws into zero-emissions electric vehicles. The swappable eZeeTM battery module will also power future product lines, including upcoming applications for second-life stationary storage and automotive sectors. “The demand that we see in emerging markets is greater than those experienced by the United States, as millions of drivers are limited by options to affordably switch to electric mobility,” said Porter Harris, CEO and founder of Power Global. “With our team’s breadth and depth of experience, there is a major opportunity to bring affordable, high-performance electric vehicle technology to these communities to serve new markets while helping these regions improve air quality and ultimately their quality of life.” EM