SURREY, British Columbia, Dec. 21, 2021 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) (“DSGT” or the “Company”), through its automotive division Imperium Motor Corp, we are pleased to announce that because of unfortunate challenges caused by supply chain issues delaying our previously anticipated Q4 production of 682 vehicles, we are now developing with Skywell a greatly improved SEV as a 2023 model year.
Consequently, based on customer and dealer feedback, the company will be adding a significant number of new features to the SEV’s. The new features will include faster charging options, Apple Car Play and Android Auto, improved battery thermo regulation as well as many additional safety features. In addition to this new standard equipment, a limited production of 888 “First Edition” with aesthetic features and badging, with a right of first refusal to our current deposit holders, will be available on a first come first serve basis.
Recently the company has received bookings and deposits for 650 SEV’s and oral commitments for dozens of Electric Buses. The retail value for bookings of the SEV’s on which deposits were received and if converted to sales is approximately $27 million. Multiple incoming vehicles will be use for the purpose of showroom display and consumer test drive by our appointed dealers. As a result of this improved content, the 2023 model year SEV’s large-scale production is projected to start in Q2. The company also anticipates delivering their first buses during Q2 in 2022.
Recent media coverage resulting in continuous online reservations combine with upcoming automobile shows scheduled in 2022, will likely result in numerous additional SEV reservations and deposits. We believe the additional features of our SEV while preserving our MSRP, is bound to increase its appeal to the consumer and improve the driver’s experience and satisfaction.
“The company has had a large influx of dealer candidates throughout North America, who wish to represent our products lines in the coming weeks. These newly announced enhancements will continue to drive customer demand and ensure that our dealer network and customers are fully satisfied with our product offerings,” commented Rick Curtis, CEO Imperium Motor Corp.
About Imperium Motor Company
Imperium Motor Company (IMC) is an EV sales and marketing company that offers a wide variety of affordable vehicles equipped for the North American market with emphasis on great design, a green mindset, performance, and functionality. Vehicles will include high speed, mid-speed, and low speed electric vehicles including cars, trucks, SUVs, vans, buses, and scooters. For additional information about Imperium Motors’ product lines, please visit www.imperiummotorcompany.com.
About DSG Global
DSG Global is an emerging global technology company with an array of interconnecting businesses in some of the fastest growing market sectors. With roots in the golf industry in which it specializes in fleet management with patented analytics, mobile touch screen engagement and electric golf carts under the Vantage Tag Systems (VTS) brand, the company is moving quickly with road-ready electric vehicles for sale in the first quarter of 2021 through its Imperium Motor Company subsidiary.
About Vantage Tag Systems
Vantage Tag Systems (VTS) provides patented electronic tracking systems and fleet management solutions to golf courses and other avenues that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Its clients use VTS's unique technology to significantly reduce operational costs, improve the efficiency plus profitability of their fleet operations, increase safety, and enhance customer satisfaction. VTS has grown to become a leader in the category of Fleet Management in the golf industry, with their technology installed in over vehicles worldwide. VTS is now branching into several new streams of revenue, through programmatic advertising, licensing, and distribution, as well as expanding into Commercial Fleet Management, PACER single rider golf carts, and Agricultural applications. Additional information is available at http://vantage-tag.com/
Company Contact:
Brokers and Analysts:
Chesapeake Group
+1-410-825-3930
info@chesapeakegp.com
Safe Harbor for Forward-Looking Statements
This news release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipated", "proposed", "expects", "intends", "may", "will", and similar expressions. Forward-looking information contained or referred to in this news release includes but is not limited to the Company's ability to secure manufacturing facilities and supply chains, the benefits the Company expects to derive from existing and planned products, and the Company's ability to achieve production and sales targets, generally.
Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors which could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: negative cash flow and future financing requirements to sustain operations, dilution, limited history of operations and revenues and no history of earnings or dividends, competition, economic changes, delays in the Company's expansion plans, regulatory changes, and the impact of and risks associated with the ongoing COVID-19 pandemic including the risk of disruption at the Company's facilities or in its supply and distribution channels. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.
Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are described under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year 2020 and our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
