Moke maker bought by EV Technology to spur global expansion

Moke International, the British-based owners of the original ‘Moke’ trademark and manufacturers of the new Electric Moke, announced this week that they have agreed to sell up to 100% of its shareholdings to Canada’s EV Technology Group.

The history of the Moke is a long and convoluted story that dates back to the late 1950s and has arrived today at a place where multiple companies sell “Mokes” in different parts of the world.

For example, Moke America CEO and founder Todd Rome brought the Moke back to the United States in 2016 as an electric Moke. Moke America, however, appears not to be at all related to Moke International, based in Britain, and which also recently launched its own Electric Moke.

The British based Moke International, though, is looking to expand into global markets, and in a deal expected to be worth in excess of $US50 million, agreed this week to sell a further 50% of its own shares to EV Technology Group (EVTG).

This will take EVTG’s ownership up to 65%, but the agreement also allows for the further acquisition of up to 100% of the remaining shares.

“I am proud and excited that MOKE International is becoming part of the EV Technology Group,” said Isobel Dando, CEO of MOKE International.

“It is the perfect Company to take our rapidly growing business to the next level with the right balance of expertise, investment, and ambition. EV Technology Group’s in-house expertise, and customer-centric technologies will also be invaluable to us as we continue to develop the Electric MOKE and more pioneering products.”

Production of Moke International’s Electric Moke is already well underway with customer deliveries expected to take place in the coming weeks.

Capable of a range of 130 kilometres on a single charge and a full charge taking four hours via a Type 2 port, the Electric Moke boasts a top speed of 80km/h – well in excess of the 40km/h of Moke America’s Electric Moke, which itself only manages a range of 65 kilometres.

“EV Technology Group’s mission is to revitalise iconic brands and rediscover the joy of motoring in an electric age,” said Wouter Witvoet, CEO of EV Technology Group. “This applies brilliantly to MOKE International as it forms the perfect start to EV Technology Group’s strategy to acquire and brands that have a loyal following and substantial brand equity.

“I am looking forward to helping the business expand as it enters new markets, especially in the USA. MIL has a superb future and EV Technology Group has the capabilities to support it every step of the way.”