Tantech Subsidiary Fulfills Fuel Midibus Order and Exports to the Middle East

Rhea-AI Summary

Tantech Holdings Ltd (NASDAQ: TANH) announced its subsidiary, Shangchi Automobile Co., Ltd., has successfully fulfilled a new order for medium-sized fuel buses for export to the Middle East. The fuel buses offer features such as comfortable seating, USB charging ports, and advanced air purification, catering to strong global demand. CEO Wangfeng Yan highlighted opportunities for expansion by diversifying product offerings, including plans for street sweepers and industrial vehicles. Tantech continues to build its brand visibility and shareholder value.

Positive

• Successful fulfillment of a new customer order for fuel buses indicates strong demand.
• Expansion plans include diversifying into street sweepers and industrial vehicles.

Negative

• None.

LISHUI, China, July 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. ("Shangchi"), fulfilled a new customer order for its medium-sized fuel bus for export to the Middle East.

In addition to licensed EVs including electric buses, Shangchi also produces fuel buses. The company's major fuel bus products are sleek, diesel midibuses, which have an overall length of 8 meters, two doors and have seats for 19 passengers. Featuring a manual 5 speed transmission and all the luxuries of a high-end bus, the midibus boasts an efficient, luxury travel experience with comfortable seating, USB charging ports, powerful air conditioning and a state-of-the-art air purification system. Shangchi also assembles tailored fuel buses based on customers' individualized needs.

Mr. Wangfeng Yan, Chief Executive Officer of Tantech, said, "We are very pleased with customer demand levels and the continued diversification of our business. There is continued strong global demand for feature-rich fuel busses capable of transporting large groups of people in a comfortable environment. This is a large, near-term opportunity for us, along with vehicles we are developing with our other teams, including the street sweeper and industrial vehicle market, which will allow us to expand our scale, manufacturing expertise and brand visibility as we work to build value for the Company and shareholders."  

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 70% of Shangchi Automobile, a vehicle manufacturer based in Zhangjiagang City, Jiangsu Province, it has manufactured and sold vehicles. The Company established two new subsidiaries in November 2020, with the plan to produce and sell street sweepers and other electric vehicles. The Company is fully ISO 90000 and ISO 14000 certified and has received a number of national, provincial and local honors, awards and certifications for its quality products and scientific research efforts.  For more information please visit: http://ir.tantech.cn.

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 closing of the Private Placement, 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.

View original content:https://www.prnewswire.com/news-releases/tantech-subsidiary-fulfills-fuel-midibus-order-and-exports-to-the-middle-east-301326730.html

SOURCE Tantech Holdings Ltd.

FAQ

What recent order did Tantech Holdings fulfill?

Tantech Holdings' subsidiary, Shangchi, fulfilled an order for medium-sized fuel buses for export to the Middle East.

What are the features of the newly fulfilled fuel buses by Tantech?

The fuel buses include comfortable seating, USB charging ports, powerful air conditioning, and a state-of-the-art air purification system.

What future plans does Tantech Holdings have for its products?

Tantech plans to diversify its product offerings, including developing street sweepers and industrial vehicles.

What is the stock symbol for Tantech Holdings?

The stock symbol for Tantech Holdings is TANH.

When was Tantech Holdings' recent press release published?

The press release was published on July 7, 2021.