EV Penny Stocks List: From $10 to Under $1

Page 2 of 13

12. Zapp Electric Vehicles Group Ltd (NASDAQ:ZAPP)

Number of Hedge Fund Holders: 8

Share Price as of April 16 2025: $0.59

Zapp Electric Vehicles Group Ltd (NASDAQ:ZAPP) and its subsidiaries design, manufacture, and sell electric vehicles under the Zapp brand. The stock has been under pressure due to the 50% slide over the past year. The selloff comes on the company posting a $222 million loss in 2024. Amid the underperformance, the company has made significant strides in its pursuit of growth opportunities in the electric vehicle space.

Zapp Electric Vehicles Group Ltd (NASDAQ:ZAPP) has already achieved significant regulatory milestones in securing approval to sell its i300 electric vehicle in the UK. Combined with previously obtained European Community Whole Vehicle Type Approval, Zapp Electric Vehicle remains well poised to pursue growth opportunities in the European electric vehicle market.

Zapp Electric Vehicles Group Ltd (NASDAQ:ZAPP) can sell i300s outside of Europe in nations that accept EU certification, including bringing up to 2,500 units annually to India from its reference micro-factory in Thailand. The company is also adding more authorized resellers across Europe to its sales and support network, which now consists of its experience center in Bicester Heritage Park, UK.

Page 2 of 13