Hercules Electric Vehicles and Pininfarina SpA sign long-term agreement for automotive design

Detroit & Turin, Italy, July 6, 2021Hercules Electric Vehicles today announced it has signed a strategic agreement with Pininfarina SpA for the design of its upcoming Alpha battery electric pickup truck, and other products currently under development.

Under terms of the agreement, Italian design firm Pininfarina will design for the Detroit automaker the Hercules Alpha pickup and other products to be announced at a future date. The two companies expect to immediately begin collaboration. The financial terms of the agreement are not being disclosed.

The rugged Alpha luxury pickup, which will be available in late 2022, will offer powertrain configurations that produce more than 1,000 hp through a torque-vectoring four-motor drive system. The motors provide independent torque control for amazing stability and ultimate high-performance.

Pininfarina, well known for its designs across several industries, including automotive, industrial and experience design, architecture, nautical and mobility beyond automotive, also will provide design solutions to showcase products and vehicle ordering for Hercules’ retail locations.

“Pininfarina is the world’s foremost designers of performance and luxury automotive products with over 90 years of experience designing vehicles for Ferrari, Maserati and Alfa Romeo,” said James Breyer, Hercules EV Founder and CEO. “We wanted to engage the best to create a truly unique and differentiated product in our Alpha.”

The design partnership with Pininfarina goes beyond simply creating beautiful vehicle designs.

“We are excited to work with Hercules on the design of a new electric vehicle,” said Giuseppe Bonollo, SVP, Sales & Marketing of Pininfarina. “Pininfarina has always been at the forefront of electric mobility. We bring to this new venture with a North American partner our ability to develop a new design language having in mind both our client’s brand identity and our shared commitment to environmental sustainability.”

About Hercules Electric Vehicles, Inc: Hercules Electric Vehicles is an electric mobility company based in Detroit, Michigan. Founded in 2018 by James Breyer, to deliver fun, customized, eco-friendly vehicles tailored exactly to consumers tastes. The Hercules Alpha pickup truck is planned to start production in late 2022. Visit HerculesEV.com for more information.

About Pininfarina SpA: Global icon of Italian style, Pininfarina is recognized for its unparalleled ability to create timeless beauty through its values of elegance, purity, and innovation. Founded in 1930, Pininfarina has evolved from an artisan concern to an international service Group, supreme expression of automotive styling and an established reality in industrial and experience design, architecture, nautical and mobility beyond automotive. A group employing 600 people, offices in Italy, Germany, China and the United States and listed on the Stock Exchange since 1986. Over the course of nine decades Pininfarina has designed more than 1,200 vehicles and more than 600 projects in different areas, receiving numerous international awards.

Media Contacts:

Hercules Electric Vehicles, Inc.

Daniel Henry

248-910-8086

danhenry@herculesEV.com

Byron Pope

The Millerschin Group

313-244-2775

bpope@millerschingroup.com

Pininfarina SpA:

Francesco Fiordelisi

Head of Communications

+39 011.9438105

f.fiordelisi@pininfarina.it

# # #