What is Company's view on the global luxury electric vehicle market? What is Company's perspective on industry competition?
This relationship provides Investor A with direct access to Counterparty A’s most senior executives, global consumer insights, industry network and contacts, differentiated investment deal flow, and collaboration on operating best practices. Investor A retains sole discretion over all investment and portfolio management decisions related to the Investor A funds. As of the date of this prospectus, Company has not entered into any agreements with Counterparty A. According to Person A, the global luxury battery electric vehicle (BEV) market, as defined by BEVs with a manufacturer's suggested retail price (MSRP) of over US$80,000, is expected to grow rapidly at a compound annual growth rate (CAGR) of 35% from 2021 to 2031 and reach a market size of nearly 1.9 million units by 2031. However, the global luxury BEV market is currently underserved, with only approximately 10 existing luxury BEV models, compared to over 100 internal combustion engine (ICE) luxury models, leaving consumers with limited choices. The growth of the global luxury car segment is expected to outpace that of the overall car market, growing at a CAGR of 10% from 2021 to 2031, according to Oliver Wyman. Additionally, driven by regulatory tailwinds and increasing sustainability awareness, the total global battery electric vehicle (BEV) market is expected to grow rapidly at a CAGR of 24% from 2021 to 2031. Within the global BEV market, the luxury BEV segment is expected to outgrow the mass market BEV segment, growing at a CAGR of 35% and reaching a total market size of 1.9 million units by 2025. Company is well positioned to capitalize on the growth momentum of the global luxury BEV segment by leveraging the following strategies. Invest in brand equity and fully transform the brand. Leveraging Company's racing heritage and proven leadership, the company intends to further elevate the brand by continuing to deliver a portfolio of fully electric and high-performance vehicles that satisfy customers’ expectations and broaden the customer base, particularly high net worth individuals and tech-savvy younger generations who value the brand’s DNA. Scale up and expand geographical presence. Company intends to deepen its penetration across all regions. The global automotive market is highly competitive and has historically been associated with significant barriers to entry, including large capital requirements and investment costs for developing, designing, manufacturing, and distributing vehicles, long lead times to bring vehicles to market from the concept and design stage, the need for specialized design and development expertise, regulatory requirements, establishing a brand name and image, and the need to establish sales and service locations. Company has strategically entered into the sustainable luxury battery electric vehicle (BEV) market, and the company faces a variety of added challenges that a traditional automobile manufacturer would not encounter, including additional costs of developing and producing an electric powertrain that has comparable performance to a traditional gasoline engine in terms of range and power, inexperience with servicing electric vehicles, regulations associated with the transport of batteries, and the need to establish or provide access to sufficient charging locations and unproven high-volume customer demand for fully electric vehicles. Company expects the sustainable luxury BEV market segment to become even more competitive in the future as additional players enter this segment. The company competes with competitors all around the world. As of June 30, 2024, Company had 207 stores in its global distribution network, and it plans to continue expanding its retail network. In 2023 and the six months ended June 30, 2024, Company delivered a total of 6,970 and 4,873 vehicles, respectively, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. The growth of the global luxury car segment is expected to outpace that of the overall car market. Within the global battery electric vehicle (BEV) market, the luxury BEV segment is expected to outgrow the mass market BEV segment. Company is well positioned to capitalize on the growth momentum of the global luxury BEV segment by leveraging the following strategies. However, the global luxury BEV market is currently underserved, with only approximately 10 existing luxury BEV models, compared to over 100 internal combustion engine (ICE) luxury models, leaving consumers with limited choices. As an early mover in the global luxury BEV market, Company is leading the electrification transformation of this fast-growing luxury car segment, launching its E-segment BEV model years ahead of competitors and targeting to become the first traditional luxury auto brand to achieve a 100% BEV product portfolio by 2027. Company launched its first fully electric Hyper-SUV, Eletre, in 2022. Beginning with Eletre, all new car rollouts will be BEV models. Company expects to capture market share and realize first mover advantages by addressing unfilled demands in the current market. Eletre is a luxury lifestyle E-segment SUV powered by Company's 800-volt Electrical Performance Architecture, or EPA, which is a newly debuted self-developed BEV platform initially based on the same foundation of Sustainable Experience Architecture, the world’s first open-source BEV architecture. Combining its technologically advanced platform with cutting-edge design, Eletre delivers leading performance in acceleration, driving range, and charging speed. The global luxury battery electric vehicle (BEV) market, as defined by BEVs with a manufacturer's suggested retail price (MSRP) of over US$80,000, is expected to grow rapidly. However, the global luxury BEV market is currently underserved, with only approximately 10 existing luxury BEV models, compared to over 100 internal combustion engine (ICE) luxury models, leaving consumers with limited choices. As an early mover in the global luxury BEV market, Company is leading the electrification transformation of this fast-growing luxury car segment, launching its E-segment BEV model years ahead of competitors. Company launched its first fully electric Hyper-SUV, the Eletre, in 2022. The company expects to capture market share and realize first mover advantages by addressing unfilled demands in the current market. Eletre is a luxury lifestyle E-segment SUV powered by Company's 800-volt EPA. Combining its technologically advanced platform with cutting-edge design, Eletre delivers leading performance in acceleration, driving range, and charging speed. Company offers three different versions of Eletre, namely, Eletre, Eletre S, and Eletre R, to satisfy the various demands of customers. Eletre R, in particular, generates a maximum of 905 horsepower (hp) and can accelerate from 0 to 100 km/h in 2.95 seconds. Company believes it benefits from a number of competitive advantages:  
● Early mover in the luxury battery electric vehicle (BEV) market.  
● Iconic brand with a racing heritage.  
● Proprietary next-generation technology built on world-class research and development (R&D) capabilities.  
● Asset-light business model supported by the Counterparty A Holding ecosystem.  
● Focus on sustainability targeting an intelligent and high-performance product portfolio.  
● Luxury retail experience and an omni-channel sales model.  
● Global, experienced, and visionary leadership. Company is well positioned to capitalize on the growth momentum of the global luxury battery electric vehicle (BEV) segment by leveraging the following strategies:
In 2023 and the six months ended June 30, 2024, Company delivered a total of 6,970 and 4,873 vehicles, respectively, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. As of June 30, 2024, Company had 2,989 full-time employees globally, including in China and Europe, among which approximately 54.6% belong to the R&D division. The results of operations are affected by the following company-specific factors. The results of operations depend significantly on Company's ability to achieve vehicle delivery targets, which impacts vehicle sales revenue. It is critical for Company to successfully manage production ramp-up and quality control, in cooperation with Counterparty A, to deliver vehicles to customers in targeted volume and of high quality. Currently, Company works with a BEV manufacturing facility in Wuhan, China, which is owned and operated by Counterparty A. The core principles and Company DNA at the heart of Company come from more than 70 years of sports car design and engineering. The concepts of aerodynamics and lightweight sports car design are highly distinguished and have been an essential part of the Company brand’s ethos. Since its inception, Team Company has won multiple Formula 1 championships, including 6 “FIA Formula 1 Drivers’ World Championships,” 7 “FIA Formula 1 Constructors’ World Championships,” and 81 “FIA Formula 1 Grand Prix Wins.” The Company brand was also awarded “Luxury Brand of the Year” at the prestigious “Luxury Briefing Awards 2019,” while the Evija received a “2020 MUSE Global Design Award.” Proprietary next-generation technology built on world-class research and development capabilities. Company has consistently been a technological pioneer in the automotive industry over the past seven decades. The exceptional technologies of Company are demonstrated by its proprietary 800-volt EPA architecture, which entails supercharging capabilities, high energy conservation, and high-speed data transmission, with high adaptability that can accommodate varying battery sizes, motors, and component layouts across vehicle classes. As such, Company has established a Global Commercial Platform to distribute Company branded vehicle models, including the Eletre, Emeya, and future BEV models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as the Evija (BEV sports car) and Emira (ICE sports car). Company believes this is the most efficient approach to market Company cars and promote the Company brand globally. As of December 31, 2023, Company had 215 stores in its global distribution network, and plans to expand the retail network to over 300 stores by 2025. In 2023, Company delivered a total of 6,970 vehicles, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. As of December 31, 2023, Company had 3,180 full-time employees globally, including in China and Europe, among which approximately 56.7% belong to the R&D division. Company has strategically entered into the sustainable luxury battery electric vehicle (BEV) market, and the company faces a variety of added challenges that a traditional automobile manufacturer would not encounter, including additional costs of developing and producing an electric powertrain that has comparable performance to a traditional gasoline engine in terms of range and power, inexperience with servicing electric vehicles, regulations associated with the transport of batteries, and the need to establish or provide access to sufficient charging locations and unproven high-volume customer demand for fully electric vehicles. Company expects the sustainable luxury BEV market segment to become even more competitive in the future as additional players enter this segment. The company competes with competitors all around the world. Company's vehicles also compete with internal combustion engine (ICE) vehicles as well as new energy vehicles. Since its inception, Team Company has won multiple Formula 1 championships, including 6 “FIA Formula 1 Drivers’ World Championships,” 7 “FIA Formula 1 Constructors’ World Championships,” and 81 “FIA Formula 1 Grand Prix Wins.” The Company brand was also awarded “Luxury Brand of the Year” at the prestigious “Luxury Briefing Awards 2019,” while the Evija received a “2020 MUSE Global Design Award.” Proprietary next-generation technology built on world-class research and development capabilities. Company has consistently been a technological pioneer in the automotive industry over the past seven decades. The company's exceptional technologies are demonstrated by its proprietary 800-volt EPA architecture, which entails supercharging capabilities, high energy conservation, and high-speed data transmission, with high adaptability that can accommodate varying battery sizes, motors, and component layouts across vehicle classes. Additionally, Company possesses leading Advanced Driver Assistance Systems (ADAS) technology with fully embedded Level 4-ready hardware capability, enabled by the world’s first deployable LiDAR system, five 360° perception coverage, and a self-developed software system for cognition, decision-making, design, and control algorithms. The operating system, Company Hyper OS, utilizes technology to create real-time 3D content for passengers. Company has operations across the UK, the EU, and China. The company is dedicated to delivering luxury lifestyle battery electric vehicles, with a focus on world-class research and development in next-generation automobility technologies such as electrification, digitalization, and more. For more information about Company, please visit www.group-Company.com. Company believes it benefits from a number of competitive advantages:  
● Early mover in the luxury battery electric vehicle (BEV) market.  
● Iconic brand with a racing heritage.  
● Proprietary next-generation technology built on world-class research and development (R&D) capabilities.  
● Asset-light business model supported by the Counterparty A ecosystem.  
● Focus on sustainability targeting a fully electric product portfolio.  
● Luxury retail experience and omnichannel sales model.  
● Global, experienced, and visionary leadership. Aside from the EPA, Company has developed a leading Advanced Driver Assistance System (ADAS) with fully embedded Level 4-ready hardware capabilities enabled by the world’s first deployable LiDAR system and proprietary software system. Company's wholly-owned R&D facilities across Europe and China demonstrate a seamless collaboration among highly experienced and dedicated Company teams to support its world-class R&D capabilities. Company brings customers a luxury retailing experience through a digital-first, omni-channel sales model to establish and develop direct relationships with customers, covering the entire spectrum of customer experience, both physically and virtually. Company operates premium stores in high-footfall locations, providing personalized and exclusive services to create a luxurious purchasing experience for its customers. The global sales digital platform provides a full suite of luxury retailing experiences, including a virtual showroom of the Company brand and products, an inquiry, order, purchasing and customization platform, and a reservation system for test driving, product delivery, and aftersales services, among others. Customers are offered a wide range of options for customization, including exterior, interior, and other functions and features. Company brings customers a luxury retailing experience through a digital-first, omni-channel sales model to establish and develop direct relationships with customers, covering the entire spectrum of customer experience, both physically and virtually. Company operates premium stores in high-footfall locations, providing personalized and exclusive services to create a luxurious purchasing experience for customers. The global sales digital platform provides a full suite of luxury retailing experiences, including a virtual showroom of the Company brand and products, an inquiry, order, purchasing and customization platform, and a reservation system for test driving, product delivery, and aftersales services, among others. Customers are offered a wide range of options for customization, including exterior, interior, and other functions and features. In addition to the fully digitalized online retail model supported by the Company App, Company adopts a direct sales model and has established co-partnership programs with some of the leading automotive dealers across all regions to expand its presence rapidly in an asset-light manner. As part of the Company brand’s philosophy of “born British and raised globally,” Company has developed a global sales and distribution network. Company is in the process of transforming from a British sports car company to a global pioneer of high-performance lifestyle electric vehicles and has set high quality and safety standards for and makes continuous improvements on its vehicles and technologies, including sensory hardware and ADAS software. Company also plans to monetize its R&D capabilities by licensing its intellectual properties to other luxury auto brands and providing ADAS software subscriptions to its customers. Continue to launch new models and upgrade existing models. The successful launches of new models are critical for Company to continue capturing market share in the luxury BEV market and strengthening its leadership position. Company plans to launch a well-balanced portfolio of new models with exceptional performance in the coming years to broaden its customer base, in particular high net worth individuals and the tech-savvy younger generations, and expand its product breadth. Company plans to launch two additional fully-electric vehicles over the next two years, including a D-segment SUV in 2025 and a BEV lifestyle sports car in 2026. Company also intends to upgrade its models to equip its vehicles with innovative technology and design. Focus on sustainability and lead in electrification. Company plans to launch a well-balanced portfolio of new models with exceptional performance in the coming years to broaden its customer base, in particular high net worth individuals and the tech-savvy younger generations, and expand its product breadth. Company plans to introduce two new models in the near future. Company also intends to upgrade its models to equip its vehicles with innovative technology and design. Focus on sustainability and lead in electrification. As a leader in the electrification transformation of the luxury car segment, Company has launched its E-segment battery electric vehicle (BEV) model years ahead of its competitors and plans to continue launching its other BEV models. As part of its sustainability commitment, Company aims to achieve carbon neutrality by 2038. Company expects to continue focusing on sustainability leadership through waste reduction and the ongoing adoption of renewable energy and recyclable materials. In addition, Company launched the “Win26” plan, aiming to achieve positive EBITDA in 2026 by further optimizing its internal processes and structures, implementing overall cost measures, and recalibrating its product plans to cater to globally diversified markets. Company intends to continuously develop and enhance proprietary cutting-edge technologies, including its 800-volt EPA architecture and hardware, algorithm, and software systems to enhance the competitiveness of its vehicles, supported by continuous R&D investment. All of Company's proprietary technologies are built with the principle of “For the Drivers,” while inheriting its unique design language and philosophy. Company is in the process of transforming from a British sports car company to a global pioneer of high-performance lifestyle electric vehicles and has set high quality and safety standards for and makes continuous improvements on its vehicles and technologies, including its sensory hardware and ADAS software. Company also plans to monetize its R&D capabilities by licensing its intellectual properties to other luxury auto brands and providing ADAS software subscriptions to its customers. Continue to launch new models and upgrade existing models. The successful launches of new models are critical for Company to continue capturing market share in the luxury battery electric vehicle (BEV) market and strengthening its leadership position. Company manufactures all BEV lifestyle models through a contract manufacturing partnership with Counterparty A, utilizing Counterparty A’s newly constructed, state-of-the-art manufacturing facilities dedicated to EVs in [location], with a planned production capacity of 150,000 units annually. Leveraging Counterparty A’s readily available production capacity, Company believes it can execute its business plan with higher scalability and flexibility while limiting its upfront capital commitments compared to most other original equipment manufacturers (OEMs). Additionally, leveraging Counterparty A’s global supply chain network, strong bargaining power in procurement, and stable relationships established with reputable suppliers such as Vendor B, Vendor C, Vendor D, and Vendor E, Company can secure high-quality components at more competitive prices, which it believes would allow for better management of any supply chain disruption risk more effectively compared to other OEMs. Company brings customers a luxury retailing experience through a digital-first, omni-channel sales model to establish and develop direct relationships with customers, covering the entire spectrum of customer experience, both physically and virtually. Company operates premium stores in high-footfall locations, providing personalized and exclusive services to create a luxurious purchasing experience for customers. In addition to the fully digitalized online retail model supported by the Company App, Company adopts a direct sales model and has established co-partnership programs with some of the leading automotive dealers across all regions to expand its presence rapidly in an asset-light manner. As part of the Company brand’s philosophy of “born British and raised globally,” Company has developed a global sales and distribution network. Company and Subsidiary B have entered into a master distribution agreement pursuant to which a subsidiary of Company is appointed as the global distributor for Subsidiary B. As such, Company has established a Global Commercial Platform to distribute Company branded vehicle models, including the Eletre, Emeya, and future lifestyle models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as the Evija (BEV sports car) and Emira (ICE sports car). Company believes this is the most efficient approach to market Company cars and promote the Company brand globally. As of June 30, 2024, Company had 207 stores in its global distribution network. Counterparty A Holding, a global mobility technology group with a proven track record in seeding BEV brands, has successfully incubated and revitalized a series of world-renowned brands with attractive financial profiles, including Volvo, Polestar, LYNK&CO., and Zeekr. Positioned as the only Counterparty A Holding-affiliated brand with sports car DNA, Company has received comprehensive support from Counterparty A Holding in manufacturing, supply chain, research and development (R&D), logistics infrastructure, and human capital, and is in the process of transforming from a British sports car company to a global pioneer of high-performance electric vehicles to bridge the gap between traditional sports cars and a new generation of electric vehicles. Eletre is a luxury lifestyle E-segment SUV powered by Company's 800-volt Electrical Performance Architecture, or EPA. Combining its technologically advanced platform with cutting-edge design, Eletre delivers leading performance in acceleration, driving range, and charging speed. Company offers three different versions of Eletre, namely, Eletre, Eletre S, and Eletre R, to satisfy the various demands of customers. Eletre R, in particular, generates a maximum of 905 horsepower (hp) and can accelerate from 0 to 100 km/h in 2.95 seconds. The global sales digital platform provides a full suite of luxury retailing experiences, including a virtual showroom of the Company brand and products, an inquiry, order, purchasing and customization platform, and a reservation system for test driving, product delivery, and aftersales services, among others. Customers are offered a wide range of options for customization, including exterior, interior, and other functions and features. In addition to the fully digitalized online retail model supported by the Company App, Company adopts a direct sales model and has established co-partnership programs with some of the leading automotive dealers across all regions to expand its presence rapidly in an asset-light manner. As part of the Company brand’s philosophy of “born British and raised globally,” Company has developed a global sales and distribution network. Company and Subsidiary B have entered into a master distribution agreement pursuant to which a subsidiary of Company will be appointed as the global distributor for Subsidiary B. How will the company face the tariffs imposed by the EU and the US? Company will adjust product plans to cater to diverse global markets and launch high-performance special editions and limited editions to focus on ultra-luxury customers. Company will continue to enhance brand and service quality, improve resilience, and achieve sustainable growth.  
Both the United States and Europe are important markets for Company. The company will continue to focus on meeting the growing demand for luxury electric vehicles in these markets.  
Company closely monitors the implementation details of tariffs and other factors, which may have short-term impacts, but these do not affect the company's long-term development strategy and outlook.  
For US factory construction, Company continues to monitor global market dynamics and comprehensively considers local policy situations to formulate market strategies. Company is a luxury battery electric vehicle (BEV) manufacturer that designs, develops, and sells luxury lifestyle vehicles under the iconic British brand “Company.” With over seven decades of heritage and proven leadership in racetrack and road cars, the Company brand symbolizes market-leading standards in performance, design, and engineering. The first lifestyle production vehicle, Eletre, is a new breed of pure electric SUV powered by Company’s proprietary 800-volt electric powertrain architecture (EPA). Deliveries of the Eletre commenced in China and Europe in 2023. Planning is underway for deliveries to the U.S. and the rest of the world. The second lifestyle production vehicle, Emeya, was launched in September 2023, and deliveries of the Emeya began in March 2024. In addition to the Eletre and Emeya, Company plans to launch two additional fully electric vehicles in the near future, including a D-segment SUV in 2025 and a BEV sports car in 2026. Company also plans to upgrade its models on an ongoing basis. Company believes it benefits from a number of competitive advantages: Early mover in the luxury BEV market. Company is well positioned to capitalize on the rapid growth of the global luxury BEV market and address unmet demand by offering a portfolio of BEV models. The global luxury BEV market is expected to grow rapidly at a CAGR of 35% from 2021 to 2031 and reach 1.9 million units by 2031, according to Oliver Wyman. Company operates at the “sweet-spot” within the luxury BEV segment by providing vehicles with a target price range between US$80,000 to US$149,000, which represents the largest volume contributor to the luxury BEV segment. Additionally, the global luxury BEV market is underserved due to limited availability of models. As an early mover in the luxury BEV market, Company has launched its E-segment BEV model years ahead of its competitors and expects to continue launching its BEV models, targeting to become the first traditional luxury auto brand to achieve a 100% BEV product portfolio by 2027, expecting to create significant early mover advantages in terms of electrification progress compared to other brands. Iconic brand with racing heritage. As a leader in the electrification transformation of the luxury car segment, Company has launched its E-segment BEV model years ahead of competitors and plans to continue launching additional BEV models. Company also aims to become the first traditional luxury auto brand to achieve a 100% BEV product portfolio by 2027. As part of its sustainability commitment, Company aims to achieve carbon neutrality by 2038, with the Company Global Smart Factory, which is owned and operated by Counterparty A. Company expects to continue focusing on sustainability leadership through waste reduction and the ongoing adoption of renewable energy and recyclable materials. Company is well positioned to capitalize on the growth momentum of the global luxury battery electric vehicle (BEV) segment by leveraging the following strategies: ● Invest in brand equity and fully transform Company's brand. ● Scale up and expand Company's geographical presence. ● Develop next-generation electric vehicle technologies while monetizing Company's R&D prowess. ● Continue to launch new vehicle models and upgrade existing models. ● Company will focus on sustainability and lead in electrification. Company is a leading global intelligent and luxury mobility provider that designs and develops luxury lifestyle vehicles (non-sports car vehicles for daily usage) under the iconic British brand “Company” and sells all Company-branded cars. With over seven decades of racing heritage and proven leadership in the automotive industry, the Company brand symbolizes market-leading standards in performance, design, and engineering. Fusing proprietary next-generation technology built on world-class research and development capabilities and an asset-light model empowered by Counterparty A, Company is breaking new ground in electrification, digitization, and intelligence. The Company brand was founded in the U.K. in 1948 and has since established itself as a high-performance sports car brand with innovative engineering and cutting-edge technologies, renowned for its superior aerodynamics and lightweight design. The Company brand was born out of legendary success on the racetrack, including 13 FIA Formula 1 world titles and many other championship honors. In 2017, Counterparty A acquired a 51% stake in Subsidiary A and further positioned the company as a luxury lifestyle battery electric vehicle (BEV) maker. The Company brand is closely associated with “customer engagement” and “community building,” and in order to provide customers with a luxurious experience, Company has adopted a direct-to-consumer global sales and distribution strategy that focuses on establishing and developing direct relationships with customers, especially in selected regions including China, Europe, and the U.S., which represent some of the key areas driving fast growth in the global battery electric vehicle markets. By offering a luxurious purchasing experience and superior customer service, Company expects to further deepen its penetration in the global market and aims to establish a total of over 300 stores globally by 2025. Develop next-generation electric vehicle technologies while monetizing Company’s R&D prowess. Company intends to continuously develop and enhance proprietary cutting-edge technologies, including the 800-volt EPA architecture and hardware, algorithm, and software systems to enhance the competitiveness of its vehicles, supported by continuous R&D investment. All of Company's proprietary technologies are built with the principle of “For the Drivers,” while inheriting its unique design language and philosophy. Counterparty A Holding, a global mobility technology group with a proven track record in seeding BEV brands, has successfully incubated and revitalized a series of world-renowned brands with attractive financial profiles, including Volvo, Polestar, LYNK&CO., and Zeekr. Positioned as the only Counterparty A Holding-affiliated brand with sports car DNA, Company has received comprehensive support from Counterparty A Holding in manufacturing, supply chain, research and development, logistics infrastructure, and human capital, and is in the process of transforming from a British sports car company to a global pioneer of high-performance electric vehicles to bridge the gap between traditional sports cars and a new generation of electric vehicles. Company expects the business combination with Counterparty B, a SPAC affiliated with Investor A, which has a strategic relationship with Investor B, to provide significant support in consumer insights and brand collaboration that will enable the company to effectively raise brand awareness globally. According to Oliver Wyman, the global luxury battery electric vehicle (BEV) market, as defined by BEVs with a manufacturer's suggested retail price (MSRP) of over US$80,000, is expected to grow rapidly at a compound annual growth rate (CAGR) of 35% over 2021-2031 and reach a market size of nearly 1.9 million units by 2031. Company and Subsidiary B have entered into a Distribution Agreement pursuant to which a subsidiary of Company is appointed as the global distributor for Subsidiary B. As such, Company has established a Global Commercial Platform to distribute Company branded vehicle models, including Eletre, Emeya, and future lifestyle models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as Evija (BEV sports car) and Emira (ICE sports car). Company believes this is the most efficient approach to market Company cars and promote the Company brand globally. As of June 30, 2024, Company had 207 stores in its global distribution network, and plans to continue expanding its retail network. In 2023 and the six months ended June 30, 2024, Company delivered a total of 6,970 and 4,873 vehicles, respectively, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. By maintaining a strong focus on research and development and innovation, Company expects to enjoy significant competitive advantages over other automotive brands in vehicle performance and driving experience. Asset-light business model supported by Counterparty A ecosystem. Company adopts an asset-light business model that leverages Counterparty A’s extensive resources in manufacturing, supply chain, research and development, logistics infrastructure, and human capital. Company benefits from Counterparty A’s newly constructed, state-of-the-art manufacturing facilities dedicated to electric vehicles in Wuhan, China, to manufacture its battery electric vehicle models, which allows the company to operate under a highly scalable model that can efficiently execute its business plan with limited upfront capital commitment. Leveraging Counterparty A’s global supply chain, Company can quickly establish and maintain relationships with top-tier global suppliers to secure stable supplies of critical components, particularly components such as batteries and automotive chips, which are susceptible to price volatility and supply disruption. Company believes the strong support from Counterparty A significantly enhances its ability to expand global operations more quickly, efficiently, and cost-effectively than other original equipment manufacturers. Focus on sustainability. Counterparty A Holding, a global mobility technology group with a proven track record in seeding BEV brands, has successfully incubated and revitalized a series of world-renowned brands with attractive financial profiles, including Volvo, Polestar, LYNK&CO., and Zeekr. Positioned as the only Counterparty A Holding-affiliated brand with sports car DNA, Company has received comprehensive support from Counterparty A Holding in manufacturing, supply chain, research and development, logistics infrastructure, and human capital, and is in the process of transforming from a British sports car company to a global pioneer of high-performance electric vehicles to bridge the gap between traditional sports cars and a new generation of electric vehicles. The global luxury battery electric vehicle (BEV) market is currently underserved, with only approximately 10 existing luxury BEV models, compared to over 100 internal combustion engine (ICE) luxury models, leaving consumers with limited choices. As an early mover in the global luxury BEV market, Company is leading the electrification transformation of this fast-growing luxury car segment, launching its E-segment BEV model years ahead of competitors. Company launched its first fully electric Hyper-SUV, the Eletre, in 2022. Company offers three different versions of Eletre, namely, Eletre, Eletre S, and Eletre R, to satisfy the various demands of customers. Eletre R, in particular, generates a maximum 905 horsepower (hp) and can accelerate from 0 to 100 km/h in 2.95 seconds. Its 112-kWh battery pack offers a maximum WLTP range of 490 km and can be recharged from 10% to 80% in less than 20 minutes. While offering unrivaled performance, Eletre comes at a better value-for-money proposition — with an average MSRP higher than US$100,000 — compared to traditional luxury original equipment manufacturers (OEMs). Deliveries of Eletre commenced in China and Europe in 2023. Planning is underway for deliveries to the U.S. and the rest of the world. Company's second lifestyle production vehicle, Emeya, was launched in September 2023, and deliveries of Emeya began in March 2024. In addition to Eletre and Emeya, Company plans to launch two additional fully electric vehicles in the near future, including a D-segment SUV in 2025 and a BEV sports car in 2026. ● Invest in brand equity and fully transform the Company brand.  
● Scale up and expand Company's geographical presence.  
● Develop next-generation electric vehicle technologies while monetizing Company's R&D prowess.  
● Continue to launch new models and upgrade existing models. The Company BEV business, founded in 2018, was carried out by Subsidiary A and the Company BEV business unit of Counterparty A Automobile Research & Development Co., Ltd., or Counterparty A R&D, incorporated in the People’s Republic of China, Subsidiary B incorporated in the U.K., and Subsidiary C, incorporated in Germany. For the periods ended prior to the Restructuring, the Company BEV business was also carried out through the former Variable Interest Entity (VIE) and its subsidiaries based in mainland China. However, the company restructured beginning in 2023 such that it no longer has any VIE structure. Invest in brand equity and fully transform the brand. Leveraging Company's brand racing heritage and proven leadership, Company intends to further elevate the brand by continuing to deliver a portfolio of intelligent and high-performance vehicles that satisfy customers’ expectations and broaden the customer base, in particular high net worth individuals and tech-savvy younger generations who value the brand’s DNA. Scale up and expand geographical presence. Company intends to deepen its penetration across all regions. The Company brand is closely associated with “customer engagement” and “community building,” and in order to provide customers with a luxurious experience, Company has adopted a direct-to-consumer sales and distribution strategy that focuses on establishing and developing direct relationships with customers, especially in selected regions including China, Europe, and the U.S., which represent some of the key areas driving fast growth in the global BEV markets. By offering a luxurious purchasing experience and superior customer service, Company expects to further deepen its penetration in the global market. Develop next-generation electric vehicle technologies while monetizing Company's R&D prowess. Its 112-kWh battery pack offers a maximum WLTP range of 490 km and can be recharged from 10% to 80% in less than 20 minutes. While offering unrivaled performance, Eletre comes at a better value-for-money proposition — with an average MSRP higher than US$100,000 — compared to traditional luxury OEMs. Deliveries of Eletre commenced in 2023. Company's second lifestyle production vehicle, Emeya, was launched in September 2023, and deliveries of Emeya began in March 2024. In addition to Eletre and Emeya, Company plans to introduce two new models in the near future. Company believes that its R&D capability is one of its key competitive strengths. Drawn from Company brand sports car design heritage, deep automotive expertise, and next-generation technologies, Company's proprietary 800-volt Electrical Performance Architecture (EPA) is a high-performance platform for luxury electric vehicles, which was developed over five years of R&D efforts. The EPA features supercharging capabilities, high energy conservation, and high-speed data transmission, with high adaptability that can accommodate varying battery sizes, motors, and component layouts across vehicle classes. Such superior design enables Company to quickly roll out new models and ramp up production with competitive performance attributes and achieve economies of scale. Company believes it benefits from a number of competitive advantages: Early mover in the luxury BEV market. Company is well positioned to capitalize on the rapid growth of the global luxury BEV market and address unmet demand by offering a portfolio of BEV models. Company operates at the “sweet-spot” within the luxury BEV segment by providing vehicles with a target price range between US$80,000 to US$149,000, which represents the largest volume contributor to the luxury BEV segment. Additionally, the global luxury BEV market is underserved due to limited availability of models. As an early mover in the luxury BEV market, Company has launched its E-segment BEV model years ahead of competitors and expects to continue launching its BEV models, anticipating significant early mover advantages in terms of electrification progress compared to other brands. Iconic brand with racing heritage. The core principles and Company's DNA at the heart of the company come from more than 70 years of sports car design and engineering. The concepts of aerodynamics and lightweight sports car design are highly distinguished and have been an essential part of the Company brand’s ethos.