VANCOUVER, British Columbia and LISBON, Portugal, Aug. 11, 2022 (GLOBE NEWSWIRE) — TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF) (“TUGA Innovations,” or the “Company”), which is creating options for city mobility challenges with the TUGA, a brand new kind of electrical car (“EV”), is happy to announce a full lineup of car fashions being designed to fulfill the addressable necessities of business fleet operators and unbiased customers alike.
Based on further market analysis, TUGA Innovations launched into a re-positioning technique that emphasizes and clarifies the TUGA’s means to simply rework purposeful facets of the bottom mannequin design. The Company has finalized a quantity of pre-determined configurations that share a a number of design options and purposeful parts which are being solid into a whole household of autos by introducing a brand new vary of fashions, from high-end limited-edition variations by means of to mobility-oriented, service-focused, and utility autos.
As half of this enhanced go-to-market technique, the Company proposes to supply three totally different outlined TUGA car classes providing patent-pending retractable rear axle and extendable chassis choices that are being additional segmented to serve totally different wants and market sectors.
- TUGA THUNDER and the TUGA FALCON are the limited-edition & high-performance mannequin choices. Transformation is achieved by a number of variations together with the removing of the ahead windshield and rear compartment for a roadster-style appear and feel. Designed with paramount regard for security, these autos symbolize the fun-loving DNA of the TUGA platform.
- TUGA COMMUTER and TUGA DELIVER had been the Company’s introductory fashions which embrace swappable physique components and have now been up-featured to incorporate further security elements and a know-how package deal branded as Mobility As A Service (“MaaS”) for purposeful integration with supply fleets in addition to enhanced capabilities for the day by day commuter.
- The TUGA CARGO and TUGA PICKUP deliver full-time absolutely prolonged chassis options for city micro-logistic wants by providing as much as 600 litres of cargo house in a car solely 88cm broad, mixed with an expanded rear wheelbase of 128cm for added stability.
The whole TUGA product household being designed presents a elementary versatile design standards based mostly on decreased width for agile manoeuvring in visitors and simple parking. The retractable rear axle delivers better stability at freeway speeds, and the extendable chassis makes passenger entry into and out of the car super-easy and incorporates a number of roll bars for enhanced general passenger security. The Cargo and Pickup variations are being designed to deliver a extra utilitarian execution to the design with a set chassis size focussed on elevated storage capability. For extra car data go to the TUGA Platform.
César Barbosa, VP and TUGA Project Lead says, “We are providing not just a vehicle, but a solution to urban mobility challenges. From our original concept prototype, which was successfully completed last year, we saw the opportunity to upgrade into a TUGA family of product offerings. Among the many features on the vehicle, I am particularly pleased to introduce our patent-pending Extendable Rear Chassis. This feature was monumental in delivering enhanced ergonomics, safety, and performance. I am very pleased with the results.”
TUGA CEO John Hagie provides, “César and his team have done an amazing job to maximise the benefits, features, and performance of the entire product line. Innovation is at the core of their work. We now have a very solid solution to meet multiple use-cases and market segments, all predicated upon a common base model. This approach aims to stabilize costs and streamline production efficiencies. We will bring more news about vehicle development and commercialization progress as we move ahead and continue to build-out the value of our exciting venture.”
On behalf of the Board of Directors,
Sincerely,
~John Hagie~
John Hagie
Chief Executive Officer & Director
TUGA Innovations, Inc.
As half of the Company’s disclosure obligations as a public issuer, ongoing monetary and materials filings might be discovered beneath the Company’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. We invite the general public to go to our web site at www.tugainnovations.com and to enroll to our “news alerts” to be suggested of future information and occasions. Please watch our video which is now accessible on the web site, and comply with us on Instagram, Twitter, and LinkedIn.
About TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF)
TUGA Innovations is a development-stage electrical car firm enterprise the conception, design, and manufacturing of specialised EVs to enhance the city mobility expertise. The Company is trying to cut back city mobility difficulties by creating a household of three-wheeled, absolutely electrical fore-and-aft 2-seat autos. The car is not any wider than a bike for agility and presents a patent pending increasing rear axle for high-speed stability together with a patent pending expandable chassis designed for passenger consolation. The car will supply superior connectivity know-how to maximise security, efficiency, environmental affect, consolation, upkeep, and navigation. The TUGA car is being designed to ship an estimated 160 km vary, have an estimated high velocity of 140km/hour with the comforts of a automotive, and with extra safety than a bike in an interchangeable multi-body, multi-function platform. Find out extra at: https://tugainnovations.com/, watch our video, and comply with us on Instagram, Twitter, and LinkedIn.
For additional data, please contact:
TUGA Investor Relations
Tel: +1 415.799.7911
Email: [email protected]
Forward-Looking Statement
This information launch comprises statements and knowledge that, to the extent that they don’t seem to be historic reality, could represent “forward-looking information” throughout the which means of relevant securities laws. Forward-looking data could embrace monetary and different projections, in addition to statements concerning future plans, targets, or financial efficiency, or the belief underlying any of the foregoing. In some circumstances, forward-looking statements might be recognized by phrases corresponding to “aim”, “aims to”, “may”, “would”, “could”, “will”, “will be” “likely”, “expected”, “anticipated”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, “hope”, “the potential to” or the unfavourable thereof or different comparable expressions regarding issues that aren’t historic details. Examples of such statements embrace, however usually are not restricted to, statements with respect to the Company providing three outlined TUGA car classes and the attributes and options of every car kind, the markets sectors and wishes addressed by every car’s go-to-market motion plan timeline, the Company addressing challenges confronted when driving in, between, and round city centres and metropolitan areas; the Company bringing extra information re: further information releases re: car improvement and commercialization; the Company’s commercialization of its automotive ideas, the width of the car, the expanded rear axle characteristic of the car, the superior connectivity options of the car and anticipated advantages, and the km vary and high velocity of the car, the safety and platform provided by the car.
Forward-looking data relies on the assumptions, estimates, evaluation, and opinions of administration made in gentle of its expertise and its notion of tendencies, present circumstances and anticipated developments, in addition to different elements that administration believes to be related and cheap within the circumstances on the date that such statements are made, however which can show to be incorrect. The materials elements and assumptions used to develop the forward-looking data contained on this information launch embrace, however usually are not restricted to, key personnel and certified workers persevering with their involvement with the Company; the Company’s means to safe further financing on cheap phrases; the aggressive circumstances of the industries during which the Company operates; and legal guidelines and any amendments thereto relevant to the Company.
Forward-looking data includes identified and unknown dangers, uncertainties and different elements which will trigger the precise outcomes, efficiency or achievements of the Company to vary materially from any future outcomes, efficiency or achievements expressed or implied by the forward-looking data, together with, with out limitation, dangers referring to the long run business plans of the Company; dangers that the Company will be unable to retain its key personnel; dangers that the Company will be unable to safe financing on cheap phrases or in any respect, in addition to all of the opposite dangers as described within the Company’s ultimate prospectus dated November 30, 2021 beneath the heading “Risks Factors.” Accordingly, readers mustn’t place undue reliance on any such forward-looking data. Further, any forward-looking data speaks solely as of the date on which such assertion is made. New elements emerge every so often, and it isn’t doable for the Company’s administration to foretell all such elements and to evaluate upfront the affect of every such issue on the Company’s business or the extent to which any issue, or mixture of elements, could trigger precise outcomes to vary materially from these contained in any forward-looking data. The Company doesn’t undertake any obligation to replace any forward-looking data to replicate data or occasions after the date on which it’s made or to replicate the prevalence of unanticipated occasions, besides as required by legislation, together with securities legal guidelines.
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