MDGS - Medigus forms JV for development of urban and logistics EV

Medigus (MDGS) trades 15.6% higher premarket on inking a definitive agreement to form a JV NewCo with Emuze founders, for the development and commercialization of urban and logistics EV micro-mobility vehicles for last mile delivery, and cargo.The JV's intended focus is to develop unique EVs that have the ability to last a full working day within a single charge, to suit a heavy-duty and rigid operation and be tailored mission-specific designs as well as Hop on -Hop off modes, off-road versions and a low cost of operation.Medigus will be entitled to acquire up to 50.1% of the NewCo's share capital on incorporation by investing up to $1.35M on NewCo achieving certain milestones.Medigus will initially invest $250K within 14 days of NewCo's incorporation leading to 19.99% ownership of NewCo's share capital; additional $400K will be invested based on predefined milestones.Within a year of second financing completion (no later than Dec.31, 2022), Medigus will

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Medigus forms JV for development of urban and logistics EV