Tantech Subsidiary Completes Another Major New Order for 50 Midibuses
Tantech Holdings Ltd (NASDAQ: TANH) announced a significant new order through its subsidiary, Shangchi Automobile Co., Ltd., for 50 midibuses to be delivered in Egypt. These midibuses, featuring a manual 5-speed transmission, accommodate up to 15 passengers, and include amenities like USB charging ports and advanced air purification systems. According to CEO Mr. Wangfeng Yan, this order signifies the company's entry into an accelerated growth phase, demonstrating resilience amidst prevailing supply constraints in the industry. The company is well-prepared to meet rising demand due to strategic supply chain relationships.
- Fulfilled a new order for 50 midibuses, indicating strong demand.
- CEO highlights entry into an accelerated growth phase.
- Demonstrated resilience against supply chain constraints due to strategic inventory management.
- None.
LISHUI, China, Sept. 7, 2021 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company"), a clean energy company in China, today announced that its subsidiary, Shangchi Automobile Co., Ltd., has fulfilled another major new order for 50 midibuses, with delivery for use in Egypt.
Shangchi Automobile's fully customizable midibuses feature a manual 5 speed transmission and all the luxuries of a high-end bus, including a fuel efficient, luxury travel experience with comfortable seating for 15 passengers. With an overall length of 4.96 meters, the vehicles have easy USB access charging ports, powerful air conditioning and a state-of-the-art air purification system, among other features.
Mr. Wangfeng Yan, Chief Executive Officer of Tantech, said, "This is another major new order for us , and we are entering a new accelerated growth phase. Importantly, we are bucking the trend of supply constraints that continues to adversely impact the broader industry. This is a testament to our supply chain relationships and our foresight in securing necessary component inventory in order to meet the higher expected demand we are now seeing."
About Tantech Holdings Ltd
For the past decade, Tantech has been a highly specialized high-tech enterprise producing, researching and developing bamboo charcoal-based products with an established domestic and international sales and distribution network. Since 2017, when the Company acquired
Forward-Looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the sales, plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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SOURCE Tantech Holdings Ltd.
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