Victory Electric Vehicles International Ltd IPO

Geographical presence in 12 states with dealers in all 12 states.

Experienced Leadership Backed by a Skilled Professional Team.

Robust Financial Performance: Maintaining Profitability through COVID-19 Challenges.

Its success depends on the company ability to successfully develop, introduce, manufacture, market and deliver new electric vehicle models of high quality on schedule and on a large scale, which may expose it to new and increased challenges and risks.

If the company electric vehicles contain defects, does not perform as per industry standards and/or fail to meet the performance levels advertised, its brand and reputation and the company ability to develop, market and sell its electric vehicles could be adversely impacted, and its may be compelled to undertake product recalls or similar corrective actions and have legal actions taken against the company.

The company depends on third parties for the supply of raw materials and does not have firm commitments for supply or exclusive arrangements with any of its suppliers. Loss of suppliers may have an adverse effect on its business, results of operations and financial condition.

If the company is not able to provide regular repair services, attract and retain customers, its business, prospects, financial condition, results of operations, and cash flows would be materially harmed.

The Company, its Promoters and its Directors have pending litigations against them. Any adverse order on such pending litigations may adversely impact its business operations and financial statements.

The company receives customer complaints related to its product. There are pending unresolved customer complaints as on December 31, 2024.

The company could experience defects, quality issues or disruptions in the supply or increase in prices of components used in its electric vehicles thus increasing material costs and the price of its electric vehicles and impacting its projected manufacturing and delivery timelines.

Its may not be able to accurately estimate the supply and demand for its electric vehicles leading to either a shortage or excess in inventory, which in turn could prevent the company from effectively managing its manufacturing requirements, resulting in additional costs, production delays. Low demand for its vehicles and low-capacity utilization of its factory may limit the company ability to leverage economies of scale.

The Company earns majority of revenue from few states like Uttar Pradesh, Haryana, Bihar, Delhi and Madhya Pradesh. Change in customer preference or any adverse regulation from the state governments in these states will have a major impact on its revenue from operations.

Some of its Promoters Group Entities/Group Companies have objects which would allow them to engage in the line of business similar to the Company. There are no non- compete agreements between the Company and such Promoter Group/Group Companies. This exposes it to the risk of bidding for similar projects in which the Company is interested.