BREAKING NEWS – 01.08.2023
In a press release of July 28th, 2023, Pasquarelli Auto SpA – a company active in the trading of new and used cars and commercial vehicles, short, medium and long-term rental as well as service and sale of spare parts – announced the signing of a new sales and service agreement with the Koelliker Group, an historical player operating in the automotive sector and one of the leading distributors of commercial vehicles, accessories and spare parts for international brands, such as Mitsubishi Motors and SsangYong. To date, the Group has proven to be one of the pioneers in the area of sustainable and intelligent mobility, as it is able to select leading full-electric brands, such as Aiways, Maxus or Wuzheng.
The purpose of the agreement is reported to be the enrichment of the Company’s offering, integrating new emerging brands in the global market and consolidating its positioning in the sustainable mobility market, through the implementation of a wider range of full-electric vehicles in the Company’s offering.
Through the new agreement, which has a five-year term, the Company extends the previous agreement in force with the Koelliker Group by seven new brands, specifically:
- Aiways (range of full-electric vehicles);
- Microlino (three/four-wheeled full-electric mobility);
- KG Mobility – Ssangyong (range of vehicles);
- B On (range of full-electric commercial vehicles);
- Evum (range of full-electric commercial vehicles);
- Maxus (range of commercial and passenger vehicles);
- Wuzheng (range of full-electric commercial vehicles).
Taking the press release into account, we confirm our recommendation: target price € 5.25, rating BUY and risk MEDIUM.
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