Forza X1 (FRZA) Provides Construction Update on North Carolina Facility

Forza X1, Inc. (Nasdaq: FRZA) announced today most of the concrete for the 60,000 square foot floor has been poured and crews are scheduled to start setting steel this week at the site of the Company's state-of-the-art manufacturing facility located on its 11-acre property in Marion, North Carolina.

Forza's Executive Chairman, Interim CEO, and Chief of Product Development Joseph Visconti expressed enthusiasm about the next phase of the factory's construction, stating, "We are one step closer to realizing our vision for a cutting-edge manufacturing facility. Once it's completed, we expect our facility will be capable of producing up to 550 boats annually utilizing the latest in closed-molded composite boat building technologies. We're looking forward to seeing the construction's progress throughout the spring and into summer."

The Company announced the successful acquisition of the property in September after McDowell County completed rough grading and clearing of the site in the first half of 2023. In October, Forza began receiving the steel construction material that will be used to start construction of the facility this week. Following that, the initial pour of the facility's foundation took place in late January.

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