Yahoo Finance DSG Global, Inc. and Imperium Motor Company Partner, Zhejiang Jonway Automobile, Commences Production at New Automotive Assembly Plant and Will Begin Regularly Delivering Vehicles to Imperium Motor Company Moving Forward
SURREY, British Columbia, Nov. 11, 2020 (GLOBE NEWSWIRE) -- DSG Global Inc. (OTC: DSGT), and its automotive division Imperium Motors, announced today that Zhejiang Jonway Automobile Co. Ltd (“Jonway”) has initiated production at its new state-of-the-art facility. Imperium Motors has the exclusive distribution rights for Jonway vehicles in North America.
Earlier this year Jonway Automotive completed the purchase of a new assembly plant located in the city of Xuzhou, China. The city is located about halfway between Beijing and Shanghai, China in Jiangsu Province. Xuzhou is one of the largest cities in China and an important gateway to East China.
The new plant is the third major assembly plant for Jonway. All Four Wheel and Three Wheel vehicles will be assembled at this new location. The capacity is over 50,000 vehicles annually running only one shift and can be increased with a second shift.
There are two additional buildings being added and when finished will give them over 1,000,000 square feet of under roof. This ultra-modern plant has Kawasaki welding robots, high capacity plastic injection machinery and cutting edge paint facilities. Jonway plans on introducing several new electric vehicle models during 2021. The facility will produce new vehicles for Imperium Motor Company for delivery in the United States, Mexico, Canada and Caribbean. Jonway is a leading supplier of affordable Electric Vehicles in Asia and Europe and now in North America via their exclusive distribution partner Imperium Motor, a division of DSG Global. Along with assembling new vehicles the facility will also be able to provide Semi Knock Down Kits that can be final assembled in their prospective markets.
Alex Wang, CEO of Jonway stated: “We are very pleased to announce the opening of our new Jonway Jiangsu Plant. This is very important for us and our DSG/Imperium partners to supply the demand of Electric Vehicles worldwide, especially in the vast North American market they serve. We can now extend our ability to produce high quality current and newly designed models at our new facility that is located closer to major component suppliers and transportation lines. This saves time and energy that helps us lessen the impact to the environment that is so critical to all of us.”
“This will allow us to manufacture and deliver Jonway vehicles in an efficient and timely manner. They can now produce vehicles at a sufficient rate to meet our strong demand. Their manufacturing expertise combined with our growing distribution network will quickly establish them as a leader in the North American market. These vehicles will be a large part of the $20 million in revenue Imperium expects during the first half of next year,” said Rick Curtis, President Imperium Motor Company.
For information on Imperium Motor’s Product line, please visit https://www.imperiummotorcompany.com/
About Imperium Motor Company
Imperium Motor Company is a new EV distribution 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.
About VANTAGE TAG SYSTEMS INC (VTS)
Vantage Tag Systems 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/
Safe Harbor for Forward-Looking Statements
Forward-looking statements in this press release include statements relating to, among other things, the Company's ability to open its new customer facility and its ability to close and deliver on various purchase orders from customers, and the Company's expansion into markets outside of the golf industry. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: the timing and nature of any capital raising transactions; our ability to offer products and services for use by customers in new markets outside of the golf industry; our ability to deliver in a timely fashion and to our customers’ satisfaction the products purchased; the risk of competition; our ability to find, recruit and retain personnel with knowledge and experience in selling products and services in existing and new markets; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are 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 2018 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.
Brokers and Analysts:
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