TEL AVIV - Xylo Technologies Ltd. (NASDAQ:XYLO), an Israel-based company specializing in innovative technologies, announced today that its affiliate, Revoltz Ltd., has developed a new electric cargo bike aimed at the European and UK markets. This three-wheeled vehicle is designed to enhance urban transportation with improved stability, safety, and payload capacity.
Revoltz, which is under the partial ownership of Charging Robotics, Inc. (OTC:CHEV), a subsidiary of Xylo, has incorporated a full-tilting suspension system into the bike, similar to its PORTO micro-EV. This feature is intended to offer a balanced ride, even when transporting bulky items.
The electric cargo bike meets the regulatory standards set by European and UK authorities and is designed to tackle the challenges of urban logistics. It combines manual and electric-assisted pedaling, aiming to provide an efficient and environmentally friendly mode of transport. The bike's increased cargo space is tailored for the delivery of goods and parcels, making it suitable for commercial use.
Revoltz's design also includes various loading configurations, such as front-loaders and side-loaders, allowing customization for different delivery needs. The bike's design, with a lower center of gravity and other safety features, is expected to appeal to a range of riders, including those with less cycling experience.
The first prototype of the electric cargo bike is expected to be ready in the next three months, with plans for commercialization in early 2025. Xylo Technologies and its affiliates, including Revoltz, operate in various sectors such as advanced medical solutions, digital commerce, and electric vehicles.
In other recent news, Xylo Technologies Ltd. has reported several key developments. The company's majority-owned subsidiary, Charging Robotics Inc., has secured its first commercial order for a wireless electric vehicle (EV) charging system from Parking Design Ltd. The system is designed to optimize the charging process using artificial intelligence and machine learning, and is slated for full deployment in 2025.
In addition to this, Xylo's affiliate, Gix Internet Ltd., has signed a memorandum of understanding to acquire an AI robotics firm specializing in medical logistics. This acquisition, which will be executed through a share exchange transaction, is expected to enhance Gix's capabilities in AI and robotics.
Xylo also announced plans to acquire a German firm that specializes in AI for predictive maintenance and condition monitoring. This acquisition, which involves an initial down payment of 1.5 million Euros for 51% of the company's shares, is expected to broaden Xylo's technological portfolio.
Furthermore, Charging Robotics Ltd., another Xylo subsidiary, has completed the installation of a novel wireless EV charging system in Tel Aviv. Lastly, a joint venture of Xylo, Revoltz Ltd., has produced its first batch of 50 micro-mobility electric vehicles, named PORTO.
InvestingPro Insights
In light of Xylo Technologies Ltd.'s (NASDAQ:XYLO) recent announcement of its innovative electric cargo bike, investors are closely monitoring the company's financial health and market performance. According to InvestingPro data, XYLO's market capitalization stands at a modest 3.09 million USD. Despite the challenges faced by the company, including a negative revenue growth rate of 0.15% over the last twelve months as of Q4 2023, there are some intriguing aspects to consider. Notably, the company experienced a significant return over the last week, with a 42.62% increase in price total return, although it's important to note the broader context of a 60.97% decline in price total return over the past year.
InvestingPro Tips highlight that XYLO holds more cash than debt on its balance sheet, which could be a sign of financial stability. However, the company is also quickly burning through cash, which may raise concerns about its long-term sustainability. Additionally, analysts predict the company will be profitable this year, which could be a turning point for the company if realized. For investors seeking in-depth analysis, there are 10 additional InvestingPro Tips available that provide further insight into XYLO's financials and market performance.
While the price of XYLO has performed poorly over the last decade, the current valuation implies a low revenue valuation multiple, which could suggest that the stock is undervalued. This could present an opportunity for investors who believe in the company's potential to turn its innovative products into commercial success. For those considering an investment in XYLO, it may be worthwhile to review the full suite of InvestingPro Tips available at https://www.investing.com/pro/XYLO for a comprehensive understanding of the company's prospects.
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