ARBON, SWITZERLAND / ACCESSWIRE / August 20, 2018 / EDAG (XETRA: ED4) (LSE: 0RCX), a leading independent engineering services provider to the global automotive industry has been contracted by EVELOZCITY with a comprehensive range of development services. EVELOZCITY's mission is to design, develop & deliver competitive, capable and connected electric vehicles - developed for urban needs. EDAG will support this mission with its unique knowledge in the development of future mobility.

"I am pleased to welcome EVELOZCITY as a customer of EDAG," stated Cosimo De Carlo, CEO of the EDAG Group. "As both companies share a common idea of the future mobility, I am convinced that this project will be the starting point for a great partnership."

About EDAG

EDAG is an independent engineering services provider to the global automotive industry. The company serves leading domestic and international vehicle OEMs and sophisticated automotive suppliers through a global network of about 60 sites in major automotive centres of the world.

EDAG offers complementary engineering services across its Vehicle Engineering, Electrics/Electronics and Production Solutions businesses. Based on these extensive capabilities, EDAG can support clients across the entire value chain from the original design idea to product development and prototype construction all the way to the delivery of turnkey production systems. As a technology and innovation leader, EDAG also operates established centres of excellence that design landmark technologies for future applications in the automotive industry: lightweight construction, electric mobility, car IT, integral safety and new production technologies.

In financial year 2017, the company generated revenues of EUR 717 million and an adjusted EBIT of EUR 32.6 million. As at 31 December 2017, 8,404 employees (including apprentices) worked for EDAG in 19 countries.

Contacts:

Public Relations

Christoph Horvath

Press Officer EDAG Group

Phone: +49 (0) 661- 6000 570

Mail:

www.edag.de

Investor Relations

Sebastian Lehmann

Head of Investor Relations

Phone: +49 (0) 611- 7375 168

Mail:

ir.edag.de

SOURCE: EDAG Engineering Group AG