IQST – iQSTEL To Launch First EV Production Imminently

Rhea-AI Summary

iQSTEL, Inc. (OTCQB: IQST) has announced plans to produce its first batch of EVOSS EV Motorcycles, with the design 90% complete. A purchase order is expected imminently, and manufacturing in China is anticipated to be finished by December. Management aims to receive the first motorcycles on-site, contingent on Covid-19 restrictions. This pilot batch will test quality and performance in Latin America, aimed at establishing EVOSS as a key player in the region's EV market over the next 3 to 5 years.

Positive

• Design of EVOSS EV Motorcycle is 90% complete.
• Manufacturing expected to be finished by December.
• First batch serves as a pilot test to demonstrate quality.

Negative

• Contingent upon Covid-19 restrictions for on-site reception.
• Market entry success remains uncertain.

New York, NY, Sept. 16, 2021 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQB: IQST) today announced plans to begin the production its first batch of EVOSS EV Motorcycles.

Management reports the design of EVOSS EV Motorcycle for Latin America is 90% complete and that the company expects to issue a purchase order (PO) imminently.

iQSTEL has been working closely with its selected manufacturer headquartered in China and is confident manufacturing will be completed by December.

iQSTEL management plans to be on site in China in to receive the first completed EV Motorcycles by December, subject to Covid-19 restrictions.

Mr. Iglesias commented: "While working on design and specs, we have been in constant communication with motorcycle dealers in Latin America to ensure we exceed customer performance expectations.  We are committed to making the first batch of our EV Motorcycles a success in the eyes of consumers and building on that success to establish EVOSS as an important player in the EV market in Latin America over the next 3 to 5 years.”

This first batch of EVOSS Motorcycles, will be a pilot test to demonstrate the quality of the EVOSS EV Motorcycle. We plan to ship some units to our target markets in Latin America, in order to test the bike with various potential dealers in addition including some company stockholders and friends in the test.

iQSTEL Inc. (OTCQB: IQST) (www.iQSTEL.com) is a US-based publicly-listed company holding an Independent Board of Directors and Independent Audit Committee offering leading-edge services through its two business divisions and each of them with independent brands. The B2B division, Brand IQSTelecom offering Telecommunications, Internet of Things, Technology and Blockchain platforms services, the target market for the B2B division is Global Markets.  The B2C division, Brand EVOSS offering EV Electric Motorcycles, Fintech Ecosystem, the target market for this business division is Latin America, and the Spanish speakers in the USA. The company has presence in 15 countries, and its products and services are used in several industries as Telecommunications, Electric Vehicle (EV), Financial Services, Chemical and Liquid Fuel Distribution Industries. IQSTEL announced on February 17th 2021 that it became a Debt Free Company and is now completely debt free with no Convertible Notes, Warrants, Promissory Notes or Settlement Agreements from its Balance Sheet. IR US Phone: 646-740-0907 investors@iqstel.com 

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

What is iQSTEL's plan for EVOSS EV Motorcycles?

iQSTEL plans to produce its first batch of EVOSS EV Motorcycles, with design nearly complete and manufacturing expected by December.

When will iQSTEL release its EVOSS EV Motorcycles?

The company expects to manufacture the motorcycles by December 2021.

How is iQSTEL ensuring the success of its EVOSS motorcycles?

Management has been in constant communication with motorcycle dealers in Latin America to meet customer performance expectations.

What markets will iQSTEL target with its EVOSS motorcycles?

iQSTEL will target markets in Latin America for its EVOSS motorcycles.

What is the significance of the first batch of EVOSS motorcycles?

The first batch will serve as a pilot test to demonstrate quality and performance.