Fly-E Group, Inc. Enters the South American Market with First Store Grand Opening in Mexico and Strategic Partnership with TECHNOLOGIES E-SOLOMO
NEW YORK, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Fly-E Group, Inc. (NASDAQ:FLYE) ("Fly-E" or the "Company"), an electric vehicle company engaged in designing, installing, selling, and renting smart electric motorcycles, electric bikes, and electric scooters, today announced the grand opening of its retail store in Mexico City in collaboration with its local distributor, TECHNOLOGIES E-SOLOMO ("E-Solomo"), one of Mexico's earliest and established electric mobility brands, marking a significant milestone in the Company's expansion into the South American market. In addition, Fly-E entered into a Strategic Partnership Agreement (the "Agreement") with E-Solomo. The collaboration aims to leverage both companies' strengths to accelerate market penetration and provide innovative, high-quality electric mobility solutions to local consumers.
According to the Agreement, E-Solomo agreed to facilitate Fly-E's expansion into the Mexican market through E-Solomo's sales network and brand influence and provide localization and supply chain assistance. Fly-E agreed to, in turn, provide E-Solomo access to its proprietary technologies. The parties also plan to collaborate on the implementation of IoT technology and smart mobility solutions, and to jointly establish an after-sales service network in Mexico to strengthen customer support and experience.
Mr. Zhou (Andy) Ou, Chairman and Chief Executive Officer of Fly-E, remarked, "The Mexican electric two-wheeler market presents immense potential, and international expansion has always been a core part of our growth strategy—even before our IPO. The launch of our first store in Mexico City and the signing of our strategic partnership agreement with E-Solomo mark a significant step forward in realizing our global ambitions. We plan to open additional stores in Mexico and continue our international growth across South America and Europe.
Fly-E is committed to delivering advanced and reliable mobility solutions and building long-term, mutually beneficial partnerships worldwide. As one of the first companies to establish a local electric bike brand in Mexico, E-Solomo has differentiated itself with its competitive pricing, localized design, flexible sales channels, and high brand recognition. The collaboration with E-Solomo represents just the beginning of our broader strategy to bring sustainable and efficient transportation solutions to customers around the globe. With E-Solomo's local expertise and our global capabilities, we are confident this partnership will serve as a cornerstone for our growth in Mexico and beyond."
About Fly-E Group, Inc.
Fly-E Group, Inc. is an electric vehicle company that is principally engaged in designing, installing, selling, and renting smart electric motorcycles, electric bikes and electric under the brand "Fly E-Bike." The Company's commitment is to encourage people to incorporate eco-friendly transportation into their active lifestyles, ultimately contributing towards building a more environmentally friendly future. For more information, please visit the Company's website: https://investors.flyebike.com.
About TECHNOLOGIES E-SOLOMO
Founded in 2021 and headquartered in Mexico City, E-Solomo is one of the earliest local e-bike brands in Mexico's electric two-wheeler industry. Specializing in the retail of cost-effective electric vehicles, E-Solomo offers a diverse product lineup that includes electric bicycles, passenger e-mopeds, and an upcoming series of electric tricycles. E-Solomo has established itself in the market through its strong market foundation, strategic distribution networks, and a commitment to innovation in sustainable urban mobility. E-Solomo is dedicated to delivering practical and affordable mobility solutions designed to meet the unique needs of the Mexican market. For more information, please visit: https://www.esolomo.com.mx/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results, and that the forward-looking statements contained in this press release are subject to the risks set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), including the section under "Risk Factors" of its most recent Annual Report on Form 10-K for the fiscal year ended March 31, 2025, filed with the SEC on July 15, 2025. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.
For investor and media inquiries, please contact:
Fly-E Group, Inc.
Investor Relations Department
Email: [email protected]
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: [email protected]
