IQST – iQSTEL Announces First Electric Car Scheduled For Production Q4 2022

Rhea-AI Summary

iQSTEL (OTCQX: IQST) announced plans to complete production of its first electric vehicle (EV) by Q4 2022. The EVOSS division, focused on electric vehicles, has already launched electric motorcycles. The first EVOSS EV car will feature a top speed of 80 km/h and will be marketed in Spain, Portugal, the USA, Latin America, and select African countries. iQSTEL aims to leverage its telecom expertise to integrate advanced technology in its EV offerings. The company is on track to exceed its $90 million net income forecast for 2022, supported by its diverse business segments.

Positive

• Completion of first EV production expected by Q4 2022.
• First EVOSS EV Car designed for affordability and utility.
• Expansion into electric vehicle market with both motorcycles and cars.
• Targeting sales in multiple international markets, enhancing growth potential.
• On track to exceed $90 million net income forecast for 2022.

Negative

• None.

New York, NY, July 20, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) today announced the company expects to complete production of its first electric car this year by the end of Q4 2022.

iQSTEL’s EVOSS business division is a wholly owned subsidiary dedicated to the development electric vehicles.  EVOSS has produced and is currently marketing its first electric motorcycles.  Today, the company revealed its product and market research department has been working on the design of its first EVOSS Medium Speed Electric Vehicle (Medium Speed EV).

iQSTEL plans for the EVOSS business division to have a wide portfolio of electric vehicles. The first EVOSS EV Car (80Km/h, 50 Mph) is scheduled to roll out the production line in Q4 this year.

We are targeting EVOSS EV Car sales in Spain, Portugal, USA, Latin American and selected countries in Africa.

The EVOSS EV Car is designed as an affordable, daily use (in many cases as second car), vehicle for both utilitarian and fun purposes the same way our EVOSS EV Motorcycles can be used for work or fun.

Drawing on our high-tech and telecomunications background, we plan to intigrate the EVOSS EV car with a variety of high-tech features.

iQSTEL now expands its EV reach to a broader market including both its EV Motorcycles and EV Cars.

iQSTEL’s strategy is to make EVOSS a recongized EV brand name targeting underserved market segments.

Look for an EV Motorcycle update coming soon to include the latest on the next production run of EV Motorcycles and dealer agreements.

iQSTEL is on track to achieve or exceed its $90 million net income postive revenue forecast for 2022 by building on the company’s base high-tech and telecomunications business with its new EVOSS, Global Money One, and Internet of Things divisions.

The IQSTEL´s Management and the Independent Board of Directors have consistently under promised and over delivered in the past and plan to continue with the same standards well into the futrure.

About iQSTEL Inc.:

iQSTEL Inc (OTCQX: IQST) (www.iQSTEL.com) is a US-based publicly-listed company offering leading-edge Telecommunication, Technology and Fintech Services for Global Markets, with presence in 13 countries.  The company provides services to the Telecommunications, Electric Vehicle (EV), Liquid Fuel Distribution, Chemical and Financial Services Industries. iQSTEL has 4 Business Divisions: Telecom, Technology, Fintech and Blockchain, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, Global Money One and itsBchain. The Company has an extensive portfolio of products and services for its clients: SMS, VoIP, 4G & 5G international infrastructure connectivity, Cloud-PBX, OmniChannel Marketing, IoT Smart Electric Vehicle Platform, iQ Batteries for Electric Vehicles, IoT Smart Gas Platform, IoT Smart Tank Platform, Visa Debit Card, Money Remittance, Mobile Number Portability Application MNPA (Blockchain Platform) and Settlement & Payments Marketplace (Blockchain Platform).

Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

iQSTEL Inc.

IR US Phone: 646-740-0907, IR Email: investors@iqstel.com

Source: iQSTEL Inc. and its subsidiaries: www.iqstel.com 

FAQ

When will iQSTEL complete production of its first electric car?

iQSTEL expects to complete production of its first electric car by the end of Q4 2022.

What is the top speed of the EVOSS EV Car?

The EVOSS EV Car is designed to have a top speed of 80 km/h (50 mph).

In which markets will iQSTEL's electric vehicles be sold?

iQSTEL plans to sell its electric vehicles in Spain, Portugal, the USA, Latin America, and selected countries in Africa.

What is the revenue forecast for iQSTEL in 2022?

iQSTEL aims to achieve or exceed a $90 million net income positive revenue forecast for 2022.

What is the business focus of iQSTEL's EVOSS division?

The EVOSS division is dedicated to the development and marketing of electric vehicles, including motorcycles and cars.