ODIN AUTOMOTIVE CELEBRATES OFFICIAL START OF PRODUCTION

New leadership begins manufacturing StreetScooter Engineering vehicles

DÜREN,Germany,Feb. 1,2022 -- Odin Automotive S.àr.l.,an automotive holding company led by global automotive experts,today announced the official start of production for the first StreetScooter Engineering (StSE) vehicles under the new management team. The vehicles are being manufactured on StSE's existing line in Düren,and will be delivered to former owner Deutsche Post DHL Group (DPDHL),beginning the fulfillment of their order for 3,500 vehicles to continue electrifying their postal delivery fleet.

The Duren production facility has capacity to produce up to 30,000 vehicles per year.

This announcement follows just three weeks after Odin officially acquired StSE's existing IP,production lines,and subsidiaries in Switzerland and Japan. Concurrently to the acquisition,DPDHL also placed an additional minimum order of 3,500 StSE vehicles and retained a 10% investment stake in the venture.

Odin's EVP of Operations John Burton,who in his more than 50 years of manufacturing experience has served as Executive Director for General Motors,deploying their manufacturing system in 12 plants across Europe and personally managing plants in the UK,Germany and Poland,and as both a Vice President for Fiat-Chrysler and General Manager of FCA's joint venture with GAC in China,oversaw the setup and reorganization of manufacturing operations under the new owners.

"We are incredibly proud to announce this step for our new venture and the tireless team behind it," said Burton. "We knew that the operational maturity of StreetScooter Engineering provided a huge first-mover advantage to us from the beginning,and today is proof that we meant it when we said we intend to capitalize on that advantage."

About Odin Automotive S.àr.l.

Odin Automotive is an automotive holding company with employees working together across Europe,Asia,and North America to transform last mile transportation of people and goods to zero emissions. Odin is led by experienced leaders who have been at the forefront of the automotive industry for the last 30 years. After pioneering change in large car and logistics companies,as well as EV start-ups and tech,they're more than ready for the challenge of solving the electrification equation for commercial fleets. For more information,check us out on our website at www.odinev.com.

Media Contact:

Veronica Grigoriou

press@odinev.com

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