CTEK AB: CTEK reduces the number of product variants of the North American EV Chargers - limited impact on result and cash flow
CTEK will, in agreement with the American customer in July, reduce the number of customized EV-Charger product variants, which are being produced and sold into North America, from two to one as from Q1 2024. The variant which will continue to be shipped will be the high end 19,2 kW EV-charger developed by CTEK especially for the premium EV car segment.
The decreased number of product variants in the portfolio will result in non-recurring costs not affecting cash flow, mainly capitalized development costs, in the range of 40-60 MSEK, which will impact the third quarter 2023.
This information constitutes insider information that CTEK AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26 July 2023 08:45 CEST.