DSG Global’s Imperium Motors Can Now Offer ‘Made in USA’ Products and Bid on Government EV Contracts with WMI Numbers Assigned by National Highway Traffic Safety Administration
- Futures firm after tax hike proposal, business activity data eyed
- Intel (INTC) Tops Q1 EPS by 24c, Offers Guidance
- Bitcoin sinks below $50,000 as cryptos stumble over Biden tax plans
- Snap (SNAP) Tops Q1 EPS by 5c, DAUs were 280 million, Offers Guidance
- Euro regains poise as data points to stronger recovery
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
SURREY, British Columbia, Jan. 29, 2021 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company") is pleased to announce the National Highway Traffic Safety Administration assigned World Manufacturer Identifier (WMI) numbers 7PG and 1Z9 for domestic and selected international markets for Imperium Motors’ low and high-speed electric vehicle (EV) products with parts and technology provided by the Jonway and Skywell companies.
Skywell New Energy Automobile Group Co. Ltd. (Skywell) was founded in 2011 and is an award-winning EV manufacturer that ranks as an industry leader for sales of new electric vehicles. With the manufacturing and sales of large, medium and light buses, passenger cars and related components and parts as its main focus, it has gradually become the leading enterprise of China’s new energy automobile industry.
Zhejiang Jonway Automobile Co., Ltd (Jonway) began manufacturing in May 2003 and has invested more than 600 million RMB in producing its three and five-door SUVs, with a capacity to produce up to 30,000 units per year. Many Jonway products have passed European certification and the American DOT, and EPA certifications and have been exported to more than 80 countries.
“The WMI numbers enable us to move forward with manufacturing and assembly of Jonway and Skywell product designs and will enable these domestically built EVs to be offered as ‘Made in USA’ products,” commented Rick Curtis, President of Imperium Motors. “The WMI numbers also give us the ability to bid on General Services Administration (GSA) and other local or state government contracts that require domestically built vehicles.”
A “Buy American” executive order signed on January 25, 2021 by President Biden plans to replace the government’s vehicle fleet with EVs assembled in the US. The US government had 645,000 vehicles that were driven 4.5 billion miles in 2019, according to the GSA.
“We are creating a modern, global, and nimble EV operation,” continued Curtis. “Through exclusive distribution rights with world-class manufacturing partners we can focus on brand management, distribution, and customer experience. Ultimately, we believe Imperium Motors will deliver affordable alternatives to what now exists in the US, with emphasis on great design, a green mindset, performance, and functionality.”
The global EV market was valued at $11.9 billion in 2017 and is projected to reach $56.7 billion by 2025, growing at a CAGR of 22.3% from 2018 to 2025.
About DSG Global
DSG Global is an emerging global technology company with an array of interconnecting businesses in some of the fastest growing market sectors. With roots in the golf industry in which it specializes in fleet management with patented analytics, mobile touch screen engagement and electric golf carts under the Vantage Tag Systems (VTS) brand, the company is moving quickly with road-ready electric vehicles for sale in the first quarter of 2021 through its Imperium Motor Company subsidiary.
About Vantage Tag Systems
Vantage Tag Systems (VTS) provides patented electronic tracking systems and fleet management solutions to golf courses and other avenues that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Its clients use VTS's unique technology to significantly reduce operational costs, improve the efficiency plus profitability of their fleet operations, increase safety, and enhance customer satisfaction. VTS has grown to become a leader in the category of Fleet Management in the golf industry, with their technology installed in over vehicles worldwide. VTS is now branching into several new streams of revenue, through programmatic advertising, licensing, and distribution, as well as expanding into Commercial Fleet Management, PACER single rider golf carts, and Agricultural applications. Additional information is available at http://vantage-tag.com/
About Imperium Motor Company
Imperium Motor Company (IMC) is an EV sales and marketing company that offers a wide variety of affordable vehicles equipped for the North American market with emphasis on great design, a green mindset, performance, and functionality. Vehicles will include high speed, mid-speed, and low speed electric vehicles including cars, trucks, SUVs, vans, buses, and scooters. For additional information about Imperium Motors' product lines, please visit www.imperiummotorcompany.com.
RedChip Companies, Inc.
Phone: (407) 491-4498
Brokers and Analysts:
Safe Harbor for Forward-Looking Statements
This news release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as “proposed”, “expects”, “intends”, “may”, “will”, and similar expressions. Forward-looking information contained or referred to in this news release includes, but is not limited to, the benefits the Company expects to derive from its World Manufacturer Identifier (WMI) numbers, from the “Buy American” executive order, or from its ability to participates in bidding for GSA and other government contracts.
Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: negative cash flow and future financing requirements to sustain operations, dilution, limited history of operations and revenues and no history of earnings or dividends, competition, economic changes, delays in the Company's expansion plans, regulatory changes, and the impact of and risks associated with the ongoing COVID-19 pandemic including the risk of disruption at the Company’s facilities or in its supply and distribution channels. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.
Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are described under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year 2019 and our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- The Hartford (HIG) Reports Q1 EPS of $0.56; Rejects Additional Proposal from Chubb (CB), Raises Buyback
- Regarding the approval of the Supervisory Board of AB Kauno Energija for the audited results
- Iranian authorities prohibiting Baha’is from a dignified burial