VANCOUVER, British Columbia and LISBON, Portugal, March 31, 2022 (GLOBE NEWSWIRE) -- TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF) ("TUGA Innovations", or the "Company"), which is developing solutions for urban mobility challenges with the TUGA, a new type of electric vehicle ("EV"), is pleased to announce it has commenced branding efforts to strengthen and distinguish product identity in the increasingly competitive EV market.
Driving the desire to compete at a high level, TUGA Innovations' founders recognized that building and properly managing effective branding has become a priority for companies of all sizes, in all types of industries, and in all types of markets. To oversee and manage the execution of the brand effort, the Company was delighted to turn to the experienced team of Chief Marketing Officer Ross Plummer and newly engaged Executive Creative Director Mr. John Filipe.
John Filipe has worked for years as a multidisciplinary creative director, writer, and filmmaker for renowned entities such as the Ridley Scott Creative Group, Wieden+Kennedy, Nike, Audi, EA Games, and Instagram. Working together with Ross Plummer has allowed the direct application of broad creativity to exemplify the corporate values of innovation, quality, value, and pioneering spirit in vehicular and digital development.
Exploring the TUGA concept, Ross and John Filipe have introduced a new premium brand identity which flows from the redesigned logo and continues across the collective spectrum of visual marketing elements.
Mr. Filipe notes, "The TUGA story is compelling. The founders' vision of helping individuals save time and travel efficiently resonates with anyone who has been stuck in traffic jams, and of course, that's a wide audience."
Ross Plummer adds, "We explored the storyline of giving back time to people, and even more succinctly outlining how this narrative revolves around simply making people happier. What a fantastic opportunity to communicate TUGA Innovations' role in that effort."
TUGA Innovations will update its website with the first public display of these all-new visual elements. The Company believes the brand identity will continue to evolve, as the Company aims to establish a strong narrative over the course of 2022 with new campaigns that continue to build upon and explore these themes.
Company CEO John Hagie contributes, "Our outlook on developing effective solutions requires going beyond product specifications to dive deeper and understand how to resolve a given set of problems experienced by individuals and groups. We aim to provide a solution for spending hours and hours in traffic and dealing with endless parking issues. The solution we are developing is based on our uniquely designed vehicle's size, shape, and digital intelligence. John and Ross are working on how to make our offering, once available, come to the forefront of people's minds when considering their transportation purchases. This is a big part of how we plan to earn commercial interest as we endeavour to build a loyal consumer audience. It's also an effort that needs to start now to be effective when we need it most. We are thrilled to have this critically important program already well underway."
On behalf of the Board of Directors,
Sincerely,
~John Hagie~
John Hagie
Chief Executive Officer & Director
TUGA Innovations, Inc.
As part of the Company's disclosure obligations as a public issuer, ongoing financial and material filings can be found under the Company's profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
About TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF)
TUGA Innovations is a development-stage EV company undertaking the conception, design, and production of specialized EVs to improve the urban mobility experience. The Company is looking to reduce urban mobility difficulties by developing a three-wheeled, fully electric fore-and-aft 2-seat vehicle. The vehicle will be no wider than a motorcycle for agility and will have a patent pending expanding rear axle for high-speed stability and a proposed patent pending expandable chassis and body length for passenger comfort. The vehicle will offer advanced connectivity technology to maximize safety, performance, environmental impact, comfort, maintenance, and navigation. The TUGA vehicle is being designed to deliver an estimated 160 km range, have an estimated top speed of 140km/hour with the comforts of a car, and with more protection than a motorcycle in an interchangeable multi-body, multi-function platform. Find out more at: https://tugainnovations.com/.
For further information, please contact:
TUGA Investor Relations
Tel: +1 415.799.7911
Email: info@tugainnovations.com
Forward-Looking Statement
This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as "aim", "aims to", "may", "would", "could", "will", "will be" "likely", "expected", "anticipated", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the Company brand development, the Company's ability to distinguish itself from its competitors, the Company updating its website, the Company's expectations regarding future brand or product positioning, statements with regard to brand narrative, any certainty regarding future brand recognition and expectations regarding future evolution of brand identity, new campaigns of the Company, the Company providing a solution for spending hours in traffic and dealing with parking issues, the Company earning commercial interest, advancing the TUGA development and the Company's commercialization of its automotive concepts, the width of the vehicle, the expanded rear axle feature of the vehicle, the advanced connectivity features of the vehicle and anticipated benefits, and the km range and top speed of the vehicle, the protection and platform offered by the vehicle.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company's ability to secure additional financing on reasonable terms; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company's final prospectus dated November 30, 2021 under the heading "Risks Factors." Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
