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Ilika receives £400,000 grant to help fund its "crusade toward net zero"

Ilika PLC

Ilika PLC (AIM:IKA, OTCQX:ILIKF) CEO Graeme Purdy speaks to Thomas Warner from Proactive after the innovative battery developer announced it will receive £400,000 of a £2.7 million grant from the Automotive Transformation Fund (ATF). The funding is part of a 16-month, £2.7 million collaboration programme that kicked off on 1 October. Ilika is collaborating with Mpac Group (LSE:MPAC) PLC and the UK Battery Industrialisation Centre (UKBIC) for this initiative. Purdy explains that the funding will be used to enhance the production of their large "Goliath" battery. In collaboration with Mpac, Ilika plans to establish an assembly line, increasing their manufacturing capacity from 0.5 to 1.5 Watt hours annually. This move aligns with their strategy to implement a fully automated pilot line. Additionally, the grant will support their partnership with the UK Battery Industrialisation Centre in Coventry, focusing on electrode production for pouch cells using giga factory scale equipment. Purdy emphasised that this grant underscores Ilika's commitment to the automotive sector and their alignment with the UK's industrial strategy towards achieving Net Zero. The company reported a robust cash balance of £14.6 million at the end of their last fiscal year. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

October 10, 2023 04:18 AM Eastern Daylight Time

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S&U "has to be careful" amid difficult macroeconomic circumstances

S & U PLC

S&U PLC (LSE:SUS) chairman Anthony Coombs speaks to Thomas Warner from Proactive after the specialist motor finance & bridging lender released its interim results for the six months to 31 July. Coombs gives an overview of how the business performed during the period, highlighting a 12% rise in revenues with a slight profit increase. Despite facing economic headwinds, reflected in current stock market valuations and high interest rates affecting business finance costs, he remains optimistic. He notes concerns about the cost of living impacting their customers and emphasises the importance of sustainable loan repayments, especially in motor finance. The property market has seen a slowdown, with a potential 5% reduction in residential values. He says the company "has got to be careful in terms of our underwriting, we've got responsibilities not only in commercial terms but in maintaining excellent relationships with our customers." However, S&U maintains conservative loan-to-value ratios and has witnessed excellent collections in their aspirin bridging operation. Coombs highlights the company's commitment to maintaining high standards in customer relations, especially with new regulatory measures in place. He concludes by saying that while the economic and political landscape remains uncertain, S&U continues to prioritise customer service and fairness. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

October 05, 2023 04:33 AM Eastern Daylight Time

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Murgado Automotive Group Acquires Two Mercedes-Benz Dealerships in Central Virginia

Murgado Automotive Group

Murgado Automotive Group, a leading automotive retailer with dealer franchises in Florida, Illinois, and New Jersey, today proudly announced its acquisition of two Mercedes-Benz dealerships in Central Virginia. The addition of Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian marks the 25th and 26th dealerships, respectively, to join the Murgado Automotive Group portfolio. The company represents many of the top global automotive brands, ranging from economy to ultra-luxury vehicles. This acquisition aligns with Murgado Automotive Group's long-term strategic plans for expansion into burgeoning markets across the eastern and midwestern regions of the United States. The sale closed on October 3, 2023. No staffing changes have been announced. “Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian have been top performers for decades in Central Virginia,” said Mario Murgado, CEO of Murgado Automotive Group. “I want to thank both the McGeorge family for working with us on this opportunity, and Mercedes-Benz for trusting our company to build on the legacy of the dealerships and one of the most recognizable brands in the world.” Mercedes-Benz has been part of the McGeorge family of dealerships since 1968, as the dealership group has moved and expanded its facilities to better serve Central Virginia's luxury car marketplace. “It's humbling to succeed a dealership group that has been built from the ground up and is now run by a third-generation leader,” said Murgado. “We, too, are passionate about our family-owned operations and are eager to introduce our unique brand of automotive retailing to Central Virginia, all while honoring our predecessors and Mercedes-Benz." Murgado Automotive Group, founded in Miami, Fla. in 2001, is a family-owned and operated automotive retailer with 26 dealer franchises in Florida, Chicago, New Jersey, and now Virginia. The company represents leading automotive brands, including Acura, Alfa Romeo, Audi, Bentley, BMW, Buick, Cadillac, Ferrari, GMC, Honda, Infiniti, Maserati, Mazda, Mercedes-Benz, Porsche, and Volkswagen. With a commitment to exceptional customer service and operational excellence, Murgado Automotive Group has been recognized as one of the top automotive retailers in the United States. More information is available at MurgadoAutomotiveGroup.com. Contact Details John P. David +1 305-724-3903 john@davidpr.com Company Website http://www.MurgadoAutomotiveGroup.com

October 03, 2023 02:18 PM Eastern Daylight Time

VinFast officially launches VF 6 in Vietnam

Vingroup

HO CHI MINH CITY, VIETNAM - Media OutReach - 29 September 2023 - VinFast has officially launched VF 6, its first electric model in the B-SUV segment, the ideal choice to begin every journey for Vietnamese families. With a starting price of 675 million VND, the VF 6 is now available for order in the Vietnamese market from October 20, 2023. In the Vietnamese market, the VinFast VF 6 comes with 2 trims: Base and Plus. The base trim starts at 675 million VND (excluding battery) or 765 million VND (including battery), while the plus trim starts at 765 million VND (excluding battery) or 855 million VND (including battery). From October 20, 2023, customers can place their orders at VinFast stores, dealer networks, or through the website https://reserve.vinfastauto.com to enjoy attractive offers. Specifically, customers will receive incentives of up to 20 million VND when making the order from October 20 until 23:59 October 30, 2023; and complete the purchase procedure within 3 months from the date VinFast starts to deliver the VF 6 to the customers. The offer is not applied to the customer who changes the owner's name in the purchase. VinFast will also display VF 6 at VinFast Stores and its dealer's showroom network nationwide from September 30, 2023, allowing customers to experience the product before making their order decision. The delivery of the VinFast VF 6 models to Vietnamese customers is expected to commence by the end of 2023. VF 6 is the next strategic model in VinFast's electric vehicle lineup, after VF e34, VF 8, VF 9, and VF 5. The model features a sophisticated design crafted by world-renowned Torino Design, a spacious and comfortable interior for the whole family, powerful performance, and a wide range of smart technologies and features. VinFast VF 6 has a length of 4,238mm, a width of 1,820mm, a height of 1,594mm, and a wheelbase of 2,730mm. These measurements ensure ample interior space, equivalent to that of C-segment internal combustion engine cars. The VF 6 features a stylish exterior design, featuring VinFast's distinctive LED light strip and attractive 5-spoke alloy wheels. The alloy wheels can be up to 19 inches in size, enhancing the car's overall striking appearance. VF 6 offers a range of colors for both its exterior and interior. It provides five available options for the exterior and two for the interior. One standout new choice is the introduction of a Mocca Brown interior color, which caters to the varying tastes, preferences, and styles of a diverse range of customers. Both Base and Plus trims of the VF 6 are equipped with a 59.6 kW LFP battery that enables a driving range of up to 399 km and 381 km respectively (WLTP standards) per full charge. The vehicle uses an electric motor that boasts a maximum power of 100 kW and 150 kW respectively with a maximum torque of 135 Nm and 310 Nm, giving an exciting driving experience and easily meeting the travel needs of all passengers. In early 2024, the VF 6 Plus will be updated over the air and free of charge to integrate the advanced driver assistance system. The update will bring various outstanding features to the VF 6 Plus, including traffic jam assist, highway assist, lane keep assist, lane centering assist, adaptive cruise control, traffic sign recognition, front/rear automatic emergency braking, and more. These features enhance the driving experience of the VinFast VF 6, making it stand out in its segment and providing drivers with excitement and peace of mind on every journey. In addition, the VinFast VF 6 is a high-quality electric vehicle equipped with advanced technology and smart features to meet the entertainment and utility needs of its drivers. The VinFast virtual assistant is available to interact with drivers using multi-regional Vietnamese voice commands, answering questions, and providing control of the vehicle. As with all VinFast electric vehicles, the VF 6 includes excellent after-sales policies such as a 7-year or 160,000 km (whichever comes first) warranty, Special Aftersales Policies, and a commitment to buying back used electric cars after five years at an attractive price. Customers can learn more about the showcase schedule of VF 6 at https://vinfastauto.com or on the official VinFast page: https://www.facebook.com/VinFastAuto.Official. Contact Details Media Contact +84 96 196 65 65 v.chidqd1@vingroup.net Company Website https://vinfastauto.com

September 29, 2023 11:57 AM Eastern Daylight Time

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Green SM reaches the six millionth ride

Vingroup

HANOI, VIETNAM - Media OutReach - 29 September 2023 - Green SM, the pure electric vehicle ride-hailing service of Vietnam's Green and Smart Mobility JSC. (GSM) proudly announced that it has reached the 6 millionth ride after only 5 months of its market launch. This is a record growth rate, firmly demonstrating the development potential as well as the solid foothold of Green SM in the field of passenger transport in Vietnam. The special customer who took the 6 millionth ride is Mr. Nguyen Thai Duong in Ho Chi Minh City. The other two lucky customers who have orders of 5,999,999th and 6,000,001st are Mr. Nguyen Khanh Hoa in Ha Noi, and Mr. Hoang Long in Binh Duong. Green SM's representatives congratulated the three special guests and presented them each with a gift of appreciation. They are awarded with a green mobility package, of which the 6 millionth customer received an award worth 6 million VND, and the remaining customers received a 3 million VND award each. Sharing her joy, the 6 millionth customer, Mr. Nguyen Thai Duong said: "I am a frequent customer of Green SM because it provides not only a nice and clean vehicle but also professional and well-trained drivers. It is also a zero-emission and zero-noise ride-hailing company, a pioneer in green transportation. I hope Green SM will grow further in Vietnam and across the borders so that everyone can join hands to protect our environment." Green SM officially launched its pure-electric ride-hailing service on 14 April 2023 and has rolled out its electric taxi service in 17 provinces and cities across the country, reaching 6 million rides. By the end of 2023, Green SM plans to expand its fleet size to 30,000 electric taxis and 90,000 electric scooters, affirming its pioneering position and aspiration to extend the green journey across 27 provinces and cities in Vietnam and 3 Southeast Asian countries. The difference of Green SM is not only in its "5-star" service standards but also in its practical contribution to the environment. With a fleet of 100% pure electric vehicles from VinFast, Green SM has accompanied customers for 35 million kilometers with zero emissions and noise, contributing to reducing the carbon emissions equivalent to 1 million trees photosynthesizing in 100 days. Additionally, Green SM is also proud to contribute 1,000 VND per electric taxi trip and 100 VND per electric motorbike trip to the "For Green Future" Foundation, established by Vingroup. To date, Green SM has contributed nearly 4 billion VND to the Foundation for environmental protection activities and creating a sustainable future in Vietnam. Sharing about the milestone of the 6 millionth ride, Mr. Thanh Nguyen, CEO of GSM said: "The impressive figures we've achieved today have affirmed our reputation and position in the green transportation revolution. The trust and companionship of the community are the driving forces for Green SM to continue conquering challenges and pursuing sustainable development goals in the future." Not only providing "reliable, technological, and smart" transportation solutions, Green SM has also become a "green mobility icon", contributing to changing public transportation and raising community awareness of environmental protection in Vietnam and in the region. Contact Details Media Contact +84 96 196 65 65 v.chidqd1@vingroup.net Company Website https://www.xanhsm.com/

September 29, 2023 11:51 AM Eastern Daylight Time

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GSM officially launches electric scooter ride-hailing services in Ho Chi Minh City

Vingroup

HO CHI MINH CITY, VIETNAM - Media OutReach - 29 September 2023 - The Green SM Bike, GSM's electric scooter ride-hailing service, is officially launched in HCM City. The company aims to expand to another six provinces and cities and to increase the electric scooter fleet to up to 90,000 units in 2023. From 29 September 2023, customers in Ho Chi Minh City can conveniently book and use the Green SM Bike's electric scooter ride-hailing service through the Green SM mobile application. The starting price is VN13,800 for the first 2 kilometers (equivalent to VND6,900/km), and VND4,800/km from the third kilometer onwards. The VinFast Feliz S model will be used for the Green SM Bike's electric scooter fleet, showcasing the distinctive Cyan Blue paint. The model is highly valued by both drivers and passengers for its powerful engine, smooth performance, and soft, comfortable seating. Echoing Green SM's core values, Green SM Bike also commits to providing its passengers with an outstanding service experience through a team of friendly, well-trained, and professional drivers. With the benefits of zero petrol odor and engine noise, along with being beneficial for human health and the environment, the Green SM Bike will be a prime transportation choice for all. Mr. Thanh Nguyen – CEO of GSM said: "Green SM Bike will offer Ho Chi Minh City residents another convenient and eco-friendly transportation option, thereby significantly promoting green mobility habits within the community. This is an essential expansion of Green SM's product and service portfolio in Ho Chi Minh City, a foremost economic, political, cultural, and educational center in the country, thereby underlining its brand reputation and commitment to a green future for all." Prior to the launch in Ho Chi Minh City, Green SM Bike was introduced in Hanoi and received substantial support from the residents. Specifically, around 1 million rides were undertaken in just over a month. Aligned with the aim of offering e-scooter transportation solutions and promoting the ethos of green living, Green SM Bike is also dedicated to the mission of "For Green Future", a foundation established by Vingroup. This foundation kickstarts actionable projects and programs geared towards achieving sustainable green development in line with Vietnam's green transition initiatives. Specifically, for every completed ride, Green SM Bike will contribute VND100, while Green SM's taxi will allocate VND1,000 to the Foundation. To date, Green SM has donated nearly VND4 billion to the "For Green Future" Foundation, proactively participating in environmental conservation activities and fostering a sustainable future in numerous provinces and cities across Vietnam. For more information about Green SM Bike, Green SM, and Green SM Luxury Taxi services, customers can visit Green SM's official website or download the Green SM mobile application from App Store and Google Play. Contact Details Media Contact +84 96 196 65 65 v.chidqd1@vingroup.net Company Website https://www.xanhsm.com/

September 29, 2023 09:15 AM Eastern Daylight Time

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Federal Publications Seminars (FPS) Embraces Industry Standardization with Adoption of CMS™ and CMBOK®

National Contract Management Association

Federal Publications Seminars (FPS), a leading government contract training provider, has announced a significant milestone in its commitment to advancing the contract management profession. FPS proudly embraces the National Contract Management Association's (NCMA) ANSI Approved Contract Management Standard™ (CMS™) and the Contract Management Body of Knowledge (CMBOK®) as the cornerstone for hiring, career development, and training of contract management professionals. The CMS™, recognized as the standard global language of government contracting, and the comprehensive CMBOK® collectively offer a unified framework to define, discuss, and advance contract management phases, domains, competencies, and skills. “Our adoption of these standards reaffirms FPS’s support of NCMA and dedication to cultivating excellence and promoting a common language within the contract management community,” said Andy King, President of FPS. Mr. King stated, "By aligning our training courses with the adoption of CMS™ and CMBOK®, we are poised to provide even greater support to our thriving FPS education community. Our partnership and collaboration with the National Contract Management Association (NCMA) reinforces our commitment to cultivating a more robust, knowledgeable, and ethical federal government contracting industry." “Through this collaboration, FPS aims to empower its clients to not only meet compliance requirements but also gain a competitive edge by harnessing their newfound expertise. The synergy between FPS and NCMA promises a brighter future for professionals in the federal contracting arena,” Mr. King concluded. "We appreciate Federal Publications Seminar's commitment to advancing the contract management profession through the adoption of the CMS™ and CMBOK®. they join leading organizations on our journey toward common language to foster global excellence," stated Kraig Conrad, Chief Executive Officer of NCMA. This move aligns FPS with the Department of Defense, civilian agencies of the U.S. government, industry leaders, and higher education institutions that have also embraced the CMS™ for their hiring, training, and educational programs. FPS's commitment to these standards is not only a testament to its leadership in the profession, but also an expression of support for NCMA's pivotal role in advancing the profession. For more information on NCMA's Common Language Adoption, please visit: www.ncmahq.org/adopters The National Contract Management Association (NCMA), which was founded in 1959 and is the world’s leading association in the field of contract management. The organization, which has over 18,000 members, is dedicated to the professional growth and educational advancement of procurement and acquisition personnel worldwide. NCMA strives to serve and inform the profession and industry it represents and to offer opportunities for the open exchange of ideas in neutral forums. To find out more, please visit www.ncmahq.org. About Federal Publication Seminars: Federal Publications Seminars (FPS) has been the leading provider of government contracts training and education for more than 60 years. FPS offers hundreds of in-person and online courses designed to provide in-house counsel, procurement officers, contract administrators, and accounting professionals and firms with solid, comprehensive opportunities to stay current on critical issues throughout the government contracting market. FPS instructors are nationally recognized leaders in the government contracting industry. For more information or to subscribe, visit fedpubseminars.com or call 888.494.3696. Follow FPS on social channels for the latest updates, class notifications and promotions @fedpubseminars. Contact Details National Contract Management Association Holly Dehesa +1 281-865-3296 holly.dehesa@ncmahq.org Company Website https://www.ncmahq.org/

September 28, 2023 06:55 AM Eastern Daylight Time

SFAA, NASBP and a Coalition of Partners Strongly Support Bill Providing Essential Protections on WIFIA Financed Projects

SFAA

The Surety & Fidelity Association of America (SFAA), National Association of Surety Bond Producers (NASBP), and a coalition of industry partners commend Senator Mark Kelly (D-AZ) and Senator Kevin Cramer (R-ND) for the introduction of S.2928, the “ Water Infrastructure Subcontractor and Taxpayer Protection Act”. This legislation provides essential protections for workers, suppliers and contractors by requiring payment protection on federally financed infrastructure projects receiving Water Infrastructure Finance and Innovation Act (WIFIA) assistance, including public-private projects (P3s). “Bonding WIFIA-financed P3 projects will protect taxpayer dollars, ensure project completion, protect local small business contractors and workers, and promote economic growth,” said Lee Covington, President and CEO of SFAA. “As more and more water infrastructure projects come online, and P3s become more common in the space, WIFIA must be modernized to include the same payment and performance requirements that protect all other federally funded infrastructure projects,” continued Covington. P3 projects have increased in popularity over the years; however, the lack of clarity for requiring payment and performance protections on P3 projects can force taxpayers to absorb additional costs of rebidding a project. Without the payment protections bonds provide, subcontractors, suppliers, and workers are often left unpaid for extended periods if the contractor defaults. The solution ensures parity for protections between traditional project delivery methods and P3 projects utilizing the WIFIA program, and the same protections required in the TIFIA program and other federally financed projects. In addition, surety bonds provide payment protections for workers, subcontractors, and suppliers and provide an economic benefit to taxpayers. A recent study by Ernst & Young (EY), The Economic Value of Surety Bonds, reported: Unbonded construction projects are more likely to default than bonded projects – by up to 10 times. When a contractor defaults on an unbonded construction project, the completion cost is 85% higher than on projects protected by surety bonds. 75% of public project owners report that surety bonding reduces contractor pricing by an average of 3.2%. Five times as many public project owners report bonded projects are more likely to be completed on time or ahead of schedule, and contractors prioritize bonded projects over unbonded projects. Read the entire EY report at www.surety.org/suretyprotects. “Construction is a risky business, and for over 80 years, the federal and state Miller Acts have protected against the risk of loss by requiring payment and performance bonds,” related Mark McCallum, CEO of NASBP. “NASBP and SFAA look forward to working with Senators Kelly and Cramer and the U.S. Congress, on a bipartisan basis, to pass this essential bill,” continued McCallum. The coalition of partners includes: American Property and Casualty Insurance Association American Subcontractors Association Business Coalition for Fair Competition Council of Insurance Agents and Brokers Finishing Contractors Association International International Union of Operating Engineers Mechanical Contractors Association of America National Electrical Contractors Association National Association of Minority Contractors National Association of Mutual Insurance Companies National Association of Surety Bond Producers Sheet Metal and Air Conditioning Contractors’ National Association The Association of Union Constructors The Construction Employers of America The Surety & Fidelity Association of America Women Construction Owners and Executives The Surety & Fidelity Association of America (SFAA) is a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry. Based in Washington, D.C., SFAA works to promote the value of surety and fidelity bonding by proactively advocating on behalf of its members and stakeholders. The association’s more than 425 member companies write 98 percent of surety and fidelity bonds in the U.S. For more information visit www.surety.org. Founded in 1942, the National Association of Surety Bond Producers (NASBP) is the association of and resource for surety bond producers and allied professionals. NASBP members specialize in providing surety bonds for construction contracts and other purposes to companies and individuals needing the assurance offered by surety bonds. www.nasbp.org Contact Details SFAA Peter Roth +1 703-401-0676 proth@surety.org NASBP Kathy Hoffman +1 240-200-1278 khoffman@nasbp.org Company Website https://surety.org/

September 27, 2023 11:10 AM Eastern Daylight Time

Agora Data’s Shelly Vandeven Recognized as Women in Auto Finance

Agora Data, Inc.

Agora Data, Inc., a fintech company transforming automotive financing for U.S. car dealerships by offering abundant, low-cost capital with precision loan performance data and analytics, has announced the selection of Shelly Vandeven, Senior Vice President of Corporate Communications, to the 2023 list of Women In Auto Finance by Auto Fin Journal. Honorees are featured in the September issue of Auto Fin Journal and will be recognized on November 8 during Used Car Week, which is being held at the Westin Kierland in Scottsdale, Arizona. “Shelly’s exceptional talent and unwavering dedication have earned her a well-deserved reputation as a highly influential leader in auto finance. Her ability to inspire others through a culture of innovation, teamwork, and inclusivity is truly remarkable and a testament to her exceptional leadership skills. She joins other auto finance leaders who deserve this tremendous recognition,” said Steve Burke, CEO of Agora Data. “Thanks to Shelly’s exceptional communication skills, she has developed strong relationships with clients and stakeholders, making her a trusted voice in the auto finance industry. Her contributions have not only boosted our company but have also had a significant and positive impact on the entire auto industry." Shelly, the Senior Vice President of Corporate Communications, joined Agora Data in 2020. With years of experience in marketing and business development across various industries, she has a proven record of increasing brand awareness, driving revenue growth, and fostering customer loyalty through effective strategies. As an auto fintech innovator, Shelly collaborates with leadership, creatives, and industry partners to develop and implement cutting-edge solutions that cater to the needs and challenges of car dealers and finance companies. Shelly holds a B.A. in Journalism/Advertising from Stephen F. Austin State University and an M.B.A. from the University of Dallas. She also received an executive education certificate in Business Analytics from The Wharton School. Agora Data, designed by auto dealers for auto dealers, enables any car dealer to be a finance company, granting expanded access to capital, technology, financial tools, and industry expertise. This empowers dealers to efficiently finance more non-prime customers, sell more cars, and make more money. The platform utilizes over $350 billion in auto loan data to fuel patent pending Artificial Intelligence (AI) and machine learning algorithms, delivering unparalleled accuracy to predict future loan performance. This advanced technology, combined with comprehensive reporting, enables dealers to optimize the performance of their non-prime loan portfolios. The company designed the first-ever crowdsourced auto securitization in 2020, revolutionizing capital market financing for dealerships by aggregating varying-sized portfolios. The company’s diversified financing strategy, backed by proprietary AI and machine learning algorithms, has led to successful crowdsourced securitizations and private-term transactions. As a result, more favorable financing terms and competitive loan rates emerge, fundamentally reshaping lending opportunities for dealers and finance companies previously limited by capital constraints. ### About Agora Data, Inc. Agora Data, Inc. is an automotive industry fintech revolutionizing financing for car dealers and finance companies. Car dealerships can secure affordable capital to build their own non-prime captive finance company, obtain actionable loan performance data to improve their lending portfolios, and use a wide range of solutions to grow their business safely. Powered by patent pending artificial intelligence (AI) and machine learning technology, car dealers can access real-time data analytics and planning resources to help optimize the performance of their portfolios. Agora Data made history by closing the first-ever crowdsourced non-prime auto securitization in 2020 and continually brings groundbreaking financing solutions to an underserved market. For more information, visit www.agoradata.com or contact us at 1-877-592-4672. Contact Details Eric Nemeth nemeth@ericpr.com Company Website https://agoradata.com/

September 26, 2023 08:06 AM Eastern Daylight Time

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