LISHUI, China,
March 28, 2022 /PRNewswire/
-- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the
"Company"), today announced that its subsidiary, Shangchi
Automobile Co., Ltd., won an additional 10 vehicle order. The
latest order for customized, high-end black and yellow midibuses is
expected to be delivered to the customer in Ecuador in May
2022.
Shangchi Automobile's fully customizable, diesel light 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 18 passengers. With an overall length
of 6 meters, the vehicles have easy USB access charging ports,
powerful air conditioning and heating, a state-of-the-art air
purification system, and many enhanced safety features, including
rear reverse radar, high mount brake lights, power windows, UV
glass and LED lights, among other features.
Mr. Wangfeng Yan, Chief Executive Officer of Tantech, said, "We
are seeing increased demand for our midibuses as the global economy
continues to reopen, while inventory shortages continue to hamper
the passenger vehicle market. We are also benefitting from an
uptick in demand for our high efficiency midibus given the steep
increase in the cost of gas, which is making it more economical for
people to travel in groups rather than having each individual incur
separate fuel charges. This trend has added on top of the existing
strong push for more environmentally friendly modes of
transportation, with companies providing group transportation and
people working together to do their part and help the environment.
We are also seeing a high level of customer interest given our
expanded vehicle portfolio with customers placing multiple vehicle
orders and wanting to partner more closely with us to meet their
transportation needs. We expect the positive momentum will continue
to build as we move through 2022 given the numerous catalysts we
are benefitting from."
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, Lishui Smart New Energy
Automobile Co., Ltd. and Zhejiang Shangchi New Energy Automobile
Co., Ltd., in November 2020, 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 products and scientific research efforts.
The Company's subsidiary, First International Commercial Factoring
(Shenzhen) Co., LTD, is engaged in
commercial factoring for businesses in and related to its supply
chain. 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 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.
