Victory Marine Holdings Signs LOI with Orion SV for Italian-Designed LSV Golf Carts
Rhea-AI Summary
Victory Marine Holdings (OTC PINK:VMHG) has signed a Letter of Intent (LOI) with Orion SV for a reverse takeover (RTO), positioning the Italian-designed, American-built luxury electric golf cart manufacturer to become publicly traded in the U.S.
The partnership aims to revolutionize the low-speed vehicle (LSV) industry through Orion SV's luxury golf carts, which are designed by former Pininfarina and Ferrari professionals. Key figures include CEO Robert Rico, designer Franco Lodato (former Pininfarina USA and MIT Labs), and Maurizio Pellegrino (Ferrari and Fiat veteran) overseeing production.
Orion SV plans to open its flagship showroom in Miami on July 18, 2025, marking a significant step in their expansion strategy. The company's focus is on blending sophisticated Italian design with cutting-edge engineering in the LSV market.
Positive
- Strategic RTO agreement enables faster market expansion and public funding access
- High-profile design team with Ferrari and Pininfarina expertise adds credibility
- Imminent flagship showroom opening indicates concrete business development
Negative
- Pre-revenue stage with no disclosed sales figures
- Competitive luxury LSV market with established players
- Success dependent on unproven market acceptance of premium golf carts
News Market Reaction
On the day this news was published, VMHG declined 26.92%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Italian-Designed, U.S.-Built Luxury EV Golf Carts Set to Redefine the LSV Market
MIAMI, FL / ACCESS Newswire / March 18, 2025 / Victory Marine Holdings Group, Inc. (OTC PINK:VMHG), a premier provider of luxury yachts and marine products, has signed a Letter of Intent (LOI) with Orion SV, an innovative manufacturer of Italian-designed, American-built luxury electric golf carts. This agreement sets the stage for a reverse takeover (RTO), enabling Orion SV to go public in the U.S. and marking a pivotal moment in its mission to revolutionize the low-speed vehicle (LSV) industry with unparalleled design and performance.
"This partnership with Victory Marine Holdings is a transformative step for Orion SV," said Robert Rico, CEO of Orion SV. "Becoming a publicly traded company will accelerate our growth, expand our global presence, and allow us to share our vision of Italian-crafted luxury with enthusiasts everywhere." Orion SV is preparing for the grand opening of its flagship showroom in Miami on July 18, 2025.
Redefining Luxury and Performance
Orion SV's LSV golf carts blend sophistication with cutting-edge engineering, designed by automotive luminaries with pedigrees from Pininfarina and Ferrari. "We're here to shake up the golf cart industry," Rico added. "With Franco Lodato's visionary designs, we're delivering artistry and precision that redefine what an LSV can be." Lodato, a celebrated designer with experience at Pininfarina USA and MIT Labs, infuses Orion's vehicles with aerodynamic elegance and functional beauty. Maurizio Pellegrino, a Ferrari and Fiat veteran, oversees production, ensuring each cart meets the highest standards of quality and durability.
About Orion SV
Inspired by the Orion constellation - a beacon of strength and vision - Orion SV merges Italian design expertise with American manufacturing excellence. Led by a team with over 75 years of combined experience from iconic brands like Ferrari, Lamborghini, and Maserati, the company is setting a new standard for luxury LSVs. Advanced lithium battery technology powers its vehicles, offering extended range, rapid charging, and unmatched reliability for an elevated driving experience.
A Lineup of Luxury and Innovation
Orion SV's offerings include:
• GT Model: A Gran Turismo-inspired EV featuring premium wood accents and bespoke finishes for a refined, sophisticated ride.
• GX Model: An all-terrain powerhouse equipped with a digital dashboard, integrated charging, and smart technology for effortless exploration.
Capturing a Growing Market
The global golf cart market, valued at
A Vision for the Future
Through this RTO with Victory Marine Holdings, Orion SV is establishing itself as a leader in the luxury golf cart market, combining exquisite craftsmanship with forward-thinking innovation.
About Victory Marine Holdings
Victory Marine Holdings (OTC: VMHG) is a premier recreational marine provider dedicated to delivering top-tier products and services. From new and used boats to financing, insurance, documentation, and accessories, Victory offers a seamless, one-stop experience for marine enthusiasts. Explore their inventory at www.victoryyachts.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, identifiable by terms such as "anticipate," "expect," "plan," or "will." These statements reflect current expectations but involve risks and uncertainties that may cause actual results to differ materially. Factors include the ability to secure capital, build infrastructure, navigate competition, and address other risks. Neither Victory Marine Holdings nor Orion SV is obligated to update these statements unless required by law.
Contact Information
Victory Marine Holdings
Orlando Hernandez
(800) 317-2441
www.victoryyachts.com
SOURCE: Victory Marine Holdings Corp.
View the original press release on ACCESS Newswire
FAQ
What is the purpose of the LOI between Victory Marine Holdings (VMHG) and Orion SV?
When is Orion SV's flagship showroom opening in Miami?
Who are the key design experts behind Orion SV's luxury golf carts?
What makes Orion SV's golf carts unique in the LSV market?
