Eleving Group update on market performance

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Modestas: “We are planning to grow our business geographically by gradually entering new markets and also product-wise by expanding our business in existing markets. We have developed a new way of launching new markets, which minimizes initial risks and maximizes success rate throughout the start-up phase.

Also, we’ve created a well-functioning vertical product cycle that allows us to utilize a vehicle throughout all its value chain – acquiring brand new vehicles and keeping them in our portfolio for 10 years, to be further used for car-sharing, subscription, near-prime vehicle financing, and financing through our traditional products.

In addition, we plan to develop existing products in our markets. We’ll continue the development of a vehicle subscription product recently launched in Latvia and Estonia and explore opportunities to expand it to other markets as well since it has proven its potential in the first months of operations in the Baltics.

Also, a group-level ESG strategy has already been adopted and is being actively implemented. As a Group, we plan to significantly grow the share of zero-emission vehicles in our portfolio. The goal is to have at least 1 000 zero-emission vehicles in our portfolio by 2025.”

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