DSG Global Enters Negotiations for US Manufacturing and Assembly Facilities for its Electric Vehicle Products
DSG Global, Inc. (OTCQB: DSGT) is negotiating to open multiple electric vehicle (EV) manufacturing and assembly facilities in the U.S. The first facility is proposed in Olympia, Washington, leveraging job creation and quality assurance for EV production. The company aims to establish partnerships with dealerships nationwide and is also exploring a location in the Midwest. The collaborations with the Nisqually Indian Tribe may offer strategic advantages, including tax incentives and potential government contracts through the GSA program.
- Negotiations for U.S. manufacturing and assembly facilities to enhance EV production.
- Potential job creation and quality assurance in U.S.-based assembly.
- Strategic partnership with the Nisqually Indian Tribe for location benefits and access to federal contracts.
- Tax incentives available from hiring tribal members under the Indian Employment Credit.
- None.
SURREY, British Columbia, Feb. 04, 2021 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company") is in active negotiations for multiple US manufacturing and assembly facilities for the Company’s expanding electric vehicle product line up.
“We are vigorously pursuing plans to open our first two US facilities to assemble our electric vehicles,” commented Bob Silzer, President and CEO of DSGT. “We are also working on setting up dealership partnerships across the U.S. in preparation for the launch of EV sales.”
“Opening our first US manufacturing and assembly facility will be a major milestone for the Company. Assembling vehicles in America creates needed jobs and assures our customers the great quality expected from our products,” added William J. Rex, president of the EV bus and motor home division of the Company’s Imperium Motor Company subsidiary.
Having founded Rexhall Industries Inc., a once publicly traded manufacturer of RV and distributor of buses, coaches and chassis imported from Asia, Rex has been involved in vehicle manufacturing and sales since 1987. In addition, he served as President of Establishment Industries Inc./Thor West, a subsidiary of Thor Industries, which manufactured small shuttle buses, and President of BYD Coach, Bus & Truck Mfg a subsidiary of publicly traded BYD Industries.
Silzer also commented: “One of the opportunities we are targeting is in Olympia, Washington, less than 200 miles from our corporate headquarters. In addition to Washington State’s business-friendly tax code, this facility would provide further benefits as it is located on the Nisqually Indian Tribe’s reservation.”
Michael Mason, Nisqually Indian Tribe Economic Development Sr. Manager, stated: “We are excited about the possibility of establishing DSGT’s assembly plants on our property. Not only do we have a strategic location near a major interstate highway and a ready workforce, we very importantly, also are a U.S. General Services Administration (GSA) contractor, which means that we can assist in helping DSG Global sell EV busses, trucks and other vehicles through the GSA program to the federal government.”
“The Nisqually Indian Tribe has working relationships with the Department of Defense and Joint Base Lewis McChord, which is located next to the reservation,” Curtis commented. “Working with the Nisqually and neighboring tribes, we also would be able to pursue grant opportunities that could help us to further accelerate our growth plans.”
Property located on tribal lands is subject to special rules for accelerated depreciation, potentially providing long-term cost savings. There are additional benefits available in the form of direct tax credits related to the hiring of tribe members on tribal land, referred to as the Indian Employment Credit. Employers may gain a tax credit for employer expenses towards the first
DSGT is also exploring a potential manufacturing and assembly facility, with active negotiations underway in the Midwest.
About Imperium Motor Company
Imperium Motor Company (IMC) is an EV sales and marketing company with strategic distribution agreements in place that offer a wide variety of affordable vehicles equipped for the North American and other markets with emphasis on great design, a green mindset, performance, and functionality. Vehicles will include high 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.
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/
Company Contact:
Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
dave@redchip.com
Brokers and Analysts:
Chesapeake Group
+1-410-825-3930
info@chesapeakegp.com
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 Company’s ability to establish a manufacturing facility in the United States, and the benefits it may derive from such a facility, such as tax advantages, or participation in GSA and other government programs.
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.
FAQ
What recent developments has DSG Global (DSGT) announced regarding electric vehicle manufacturing?
Where is DSGT planning to open its first U.S. EV manufacturing facility?
What benefits does DSGT expect from collaborating with the Nisqually Indian Tribe?
What expansion plans does DSG Global (DSGT) have in the Midwest?
