Tel Aviv, Israel, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Charging Robotics Inc. (OTC: CHEV), announced today that its affiliate, Revoltz Ltd. (of which Charging Robotics owns 19.9%), has developed a new, three-wheel, e-cargo bike tailored for the English and European markets. Building on the success of Revoltz’s PORTO micro EV, this new vehicle is designed to offer enhanced stability, increased payload capacity, and high-caliber safety features, making it fitting for urban transportation and commercial applications.

Revoltz has integrated its advanced full-tilting suspension system, also implemented in the PORTO, into this new three-wheel e-cargo bike, ensuring a smooth and balanced ride, even with bulky loads. This product aligns with European and UK regulations and aims to address various urban transportation challenges in the respective urban areas.

The three-wheel design enhances stability and maneuverability, particularly when carrying heavy loads. Equipped with pedals and an electric motor, the e-cargo bike combines manual and assisted pedaling for an efficient and eco-friendly ride. Its larger cargo area and higher payload capacity make it perfect for transporting goods, groceries, parcels, and larger items. The added stability makes the bike accessible for novice riders or those less confident in cycling, while the improved safety features, such as a lower center of gravity, enhance safety both in traffic and on uneven terrain. The bike's versatile configurations, including front-loaders, rear-loaders, and side-loaders, allow customization by individual rider for different transportation needs. As an eco-friendly alternative to motor vehicles, the bike helps reduce emissions and promote sustainable transportation, making it fitting for urban delivery service industry workers.

The European e-cargo bike market is projected to grow significantly, with an estimated market size of $1.05 billion in 2024, which is expected to reach $1.60 billion by 2029. This growth underscores the increasing demand for sustainable urban transportation solutions.

Revoltz expects the first prototype to be ready within the next three months, with commercialization anticipated for early 2025.

Amir Zaid, CEO of Revoltz, shared, “We are thrilled to introduce our new three-wheel, e-cargo bike to the European and UK markets. This innovative product reflects our commitment to enhancing urban mobility with sustainable, efficient, and user-friendly solutions. We believe this bike will set new standards in urban transportation and support the growing demand for eco-friendly delivery and personal transport options."