DSG Global Inc. and Imperium Motor Adding Additional Features and Functionality to the SEV and Electric Buses
DSG Global, Inc. (OTCQB: DSGT) announces delays in Q4 production of SEVs due to supply chain issues, shifting focus to a new 2023 model with enhanced features in collaboration with Skywell. Bookings for 650 SEVs valued at approximately $27 million have been secured, with production projected to start in Q2. A limited 'First Edition' run of 888 vehicles will be available, along with the anticipated delivery of electric buses. The company aims to increase consumer appeal while maintaining MSRP amidst growing dealer interest.
- Bookings for 650 SEVs valued at approximately $27 million.
- Production of enhanced 2023 model projected to start in Q2.
- Introduction of new features including faster charging and improved safety.
- Production delays due to supply chain challenges.
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SURREY, British Columbia, Dec. 21, 2021 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) (“DSGT” or the “Company”), through its automotive division Imperium Motor Corp, we are pleased to announce that because of unfortunate challenges caused by supply chain issues delaying our previously anticipated Q4 production of 682 vehicles, we are now developing with Skywell a greatly improved SEV as a 2023 model year.
Consequently, based on customer and dealer feedback, the company will be adding a significant number of new features to the SEV’s. The new features will include faster charging options, Apple Car Play and Android Auto, improved battery thermo regulation as well as many additional safety features. In addition to this new standard equipment, a limited production of 888 “First Edition” with aesthetic features and badging, with a right of first refusal to our current deposit holders, will be available on a first come first serve basis.
Recently the company has received bookings and deposits for 650 SEV’s and oral commitments for dozens of Electric Buses. The retail value for bookings of the SEV’s on which deposits were received and if converted to sales is approximately
Recent media coverage resulting in continuous online reservations combine with upcoming automobile shows scheduled in 2022, will likely result in numerous additional SEV reservations and deposits. We believe the additional features of our SEV while preserving our MSRP, is bound to increase its appeal to the consumer and improve the driver’s experience and satisfaction.
“The company has had a large influx of dealer candidates throughout North America, who wish to represent our products lines in the coming weeks. These newly announced enhancements will continue to drive customer demand and ensure that our dealer network and customers are fully satisfied with our product offerings,” commented Rick Curtis, CEO Imperium Motor Corp.
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.
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:
Brokers and Analysts:
Chesapeake Group
+1-410-825-3930
info@chesapeakegp.com
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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 "anticipated", "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 secure manufacturing facilities and supply chains, the benefits the Company expects to derive from existing and planned products, and the Company's ability to achieve production and sales targets, generally.
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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 2020 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 led to the production delay for DSGT's SEVs?
What new features are being added to the 2023 model of SEVs?
How many SEVs has DSGT booked and what is their estimated value?
When is DSGT planning to start production of its new SEVs?
What is the significance of the 'First Edition' SEVs?
