VIVIC Corp. Receives Major Order from Established Electric Outboard Motor Manufacturer

Las Vegas, Nevada–(Newsfile Corp. – March 25, 2025) –  Vivic Corp. (OTCQB: VIVC) (the “Company”, “we,” or “VIVIC”), a company positioning itself to become a global provider of access to luxury yachts, today announced that on January 29, 2025, it entered into a binding order contract with ACEL Power Inc. (“ACEL”). Under the terms of the contract, the Company will supply ACEL three electric yachts, with a total contract value of approximately US$2.2 million to be paid in installments upon the fulfillment of certain milestones.

The three electric yachts to be delivered under the contract include an EV1-1, EV1-2, and EV58. All deliveries are expected to be completed in the third calendar quarter of this year.

“The contract with an established electric outboard motor manufacturer ACEL Power is fueling our growth in what is expected to be a very strong year for the Company,” said VIVIC President and CEO Tse-Ling Wang. “The signing of the contract announced today further solidifies VIVIC’s position in the high-end electric yacht market and reflects ACEL’s recognition of our world-class capabilities.”

Earlier in 2025, VIVIC signed the Electric Catamaran Yacht Joint Development Agreement with ACEL Power Inc. The collaboration between VIVIC and ACEL is focused on the development of new energy-electric yachts through enhanced product competitiveness. The complementary technical expertise of both parties is expected to accelerate the development of electric yachts and foster innovation within the industry.

Mr. Wang continued, “Our partnership with ACEL Power represents a significant advancement in our strategic positioning within the new energy electric yacht market. We are thrilled to have very quickly received a substantial order to help meet the global demand for sustainable and efficient marine solutions.”

About Acel Power Inc.

ACEL Power is comprised of an international team of passionate experts charting the voyage to carbon neutrality. The company’s mission is to design and deliver cutting-edge solutions that redefine the marine industry, elevating it to new heights of integration, intelligence, safety and sustainability, and providing unparalleled user experiences. We design and engineer Intelligent Electric comprehensive systems, software and infrastructure that empower the forward-thinking explorers of today with the propulsion products of tomorrow. A new age in maritime power has dawned, and we are proud to be at its helm delivering world-leading electrification technologies. For more information, please visit www.acelpower.com.

About Vivic Corp.

Vivic Corp. is a distinguished company in the yacht industry, bringing unparalleled value and experiences to clients through innovative technology, product diversity, global presence, professionalism, and a commitment to sustainable development. We continuously explore the latest technological solutions to enhance yacht performance, safety, and comfort; offer a diverse product line to meet the needs and preferences of an array of clients. We have established a broad market and service network worldwide, providing comprehensive pre-sales and after-sales services; and employ a professional, dedicated, and experienced team to deliver high-quality products and services. Additionally, we emphasize environmental protection and social responsibility, striving for sustainable development. As a company positioning itself to become a leader and pioneer in the yacht industry, we will continue to work hard to bring even better and more outstanding products and services to our customers. The company’s main businesses include: Independent design, development, and sales of the “VIVIC” series of operational yachts mainly targeting domestic and foreign yacht clubs and water cultural tourism operators, with sales of mass-produced yachts including several models such as VV1 (40 feet), VV2 (46 feet), and V55 (55 feet). The company continues to independently design, develop, and manufacture all-electric and traditional power yachts through its own and subcontracted factories. Our products include leisure yachts, sea fishing yachts, diving function yachts, party function catamarans, large sailboats, and more, with maintenance and repair services available to our customers. The Company acts as sales agent for other luxury yacht brands and holds exclusive agency rights for the “MONTE FINO” series of luxury yachts from Kha Shing Enterprises in regions outside Taiwan and the United States, selling luxury yachts ranging from 45 to 150 feet. For more information, please visit www.vivicyacht.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates”, “target”, “going forward”, “outlook,” “objective” and similar terms. Further, statements in this news release concerning economic outlook, expected revenue, expected margins, expected savings, expected results, expected expenses, orders, deliveries, financial position, as well as any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements.

Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements (including the RMB/USD value of its anticipated benefit to the Company’s as described herein) to differ materially and in an adverse manner from anticipated results contained or implied in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company filings with the U.S. Securities and Exchange Commission (“SEC”), which are available at www.sec.gov. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

The fulfillment of the contract discussed in this announcement may be affected by various factors, including market conditions, changes in customer demand, and supply chain issues. As such, the Company cannot guarantee that all terms of the Contract will be executed on time or in full. Investors should carefully consider these risks when making investment decisions.

The Company will continue to adhere to its prudent business practices, actively expand its market presence, and remain committed to creating long-term value for its shareholders. Should there be any significant developments, the Company will disclose relevant information in a timely manner in accordance with applicable securities regulations.

Forward-looking statements include statements as to demand for the Company’s products and the impact of geopolitical conditions, including any related international trade restrictions. These factors include uncertainties as to the ability to record revenues based upon the timing of product deliveries, changes in economic conditions, and other risks, including those described in the Company’s filings with the SEC, press releases, and other communications.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245829