Alava-based company Evolo, part of the Elproex Group and specialising in the design and manufacture of electrically-assisted vehicles, has strengthened its business projection by joining the European programme Knowledge Innovation Community (KIC) and by signing of an alliance with the Belgian company Bubble Post, Empresa XXI has reported.
The management of Evolo is tackling a strategic phase in the development of its technology-based business: the development, marketing and implementation of sustainable urban mobility solutions.
This strategy has also been strengthened by the signing of an alliance with the Belgian group Bubble Post, specialising in the urban distribution of goods. The agreement includes, on the one hand, the development of a new model of electrically-assisted tricycle by Evolo and, on the other hand, joining forces to jointly grow the urban logistics business on the domestic market.
The Evolo business plan foresees the production of 600 vehicles of its different product families for financial year 2016, which will mean duplicating this year’s activity. To meet this growth, and anticipated growth for the next few years, it has designed an investment plan worth four million euros through to 2018. It is also considering increasing the Group’s workforce from 20 to 60 professionals.