VANCOUVER, British Columbia and LISBON, Portugal, Aug. 02, 2022 (GLOBE NEWSWIRE) — TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF) (“TUGA Innovations,” or the “Company”), which is growing options for city mobility challenges with the TUGA, a brand new sort of electrical automobile (“EV”), right this moment proclaims the graduation of strategic actions designed to advance a twenty-four (24) to thirty-six (36) month industrial go-to-market motion plan.
This proposed agenda goals to align all elements of engineering improvement, prototype testing, regulatory approvals, software program, and {hardware} integration together with superior digital applied sciences, advertising and marketing, and gross sales efforts.
Company co-founder and VP César Barbosa states, “We recognize the need to manage many moving parts in the weeks and months ahead. We believe our ability to prototype a functional platform within an expedited timeline showcases our commitment and keen focus. Recent advances such as our patent pending extendable rear chassis and rear axle were designed to deliver a practical and innovative consumer focused, segment-specific, premium vehicle targeting sales entry across the urban commuter, ride-share delivery, taxi, rental, and leisure markets.”
TUGA Innovations has additionally dedicated to evaluating the idea of Mobility-As-A-Service (“MaaS”) as a possible added-value characteristic for integration into the TUGA platform. The Company can also be exploring the potential for added or enhanced advantages and options via the combination of augmented actuality and digital actuality powered by synthetic intelligence (“AI”). These options, together with tie-ins with Metaverse-based platforms have the potential to supply all new customer-centric vertical integration potentialities combining progressive automobile options, journey hailing software program platforms, new consumer purposes and related providers.
TUGA Innovations Co-Founder & Board Member António Câmara notes, “We are viewing MaaS as an umbrella concept that offers us the possibility to combine multiple offerings. We will evaluate, and test these elements through our expertise in AI and software development.”
The TUGA absolutely electrical fore-and-aft 2-seat automobile goals to deal with the numerous challenges confronted when driving in, between, and round city centres and metropolitan areas. The automobile isn’t any wider than a bike for agility and boasts a patent pending increasing rear axle for stability at greater speeds and a not too long ago introduced patent-pending increasing size automobile chassis system providing a novel backwards motion of the rear a part of the automobile to allow improved passenger entry and exit. The TUGA platform is designed to supply a number of physique types initially recognized because the TUGA Commuter, TUGA Deliver and TUGA One ideas.
Company CEO John Hagie provides, “The customer experience is at the heart of our strategic focus. We are looking at options for ride sharing-to-ownership models in key locations which offer frictionless access through online smart contracts. To that end, we hope to dedicate multiple first run vehicles aimed specifically at the ride hailing, ride sharing and delivery service segments. Our vision will require significant effort and capital investment, but our confidence is predicated on our belief that our product, once developed, will offer a uniquely tailored solution in todays rapidly changing automotive sector.”
On behalf of the Board of Directors,
Sincerely,
~John Hagie~
John Hagie
Chief Executive Officer & Director
TUGA Innovations, Inc.
As a part of the Company’s disclosure obligations as a public issuer, ongoing monetary and materials filings could be discovered underneath 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 electrical automobile firm enterprise the conception, design, and manufacturing of specialised EVs to enhance the city mobility expertise. The Company is seeking to cut back city mobility difficulties by growing a three-wheeled, absolutely electrical fore-and-aft 2-seat automobile. The automobile shall be no wider than a bike for agility and can have a patent pending increasing rear axle for high-speed stability and a proposed patent pending expandable chassis and physique size for passenger consolation. The automobile will provide superior connectivity expertise to maximise security, efficiency, environmental influence, consolation, upkeep, and navigation. The TUGA automobile is being designed to ship an estimated 160 km vary, have an estimated high pace of 140km/hour with the comforts of a automobile, and with extra safety than a bike in an interchangeable multi-body, multi-function platform. Find out extra at: https://tugainnovations.com/.
For additional data, please contact:
TUGA Investor Relations
Tel: +1 415.799.7911
Email: [email protected]
Forward-Looking Statement
This information launch incorporates statements and data that, to the extent that they don’t seem to be historic reality, might represent “forward-looking information” inside the that means of relevant securities laws. Forward-looking data might embrace monetary and different projections, in addition to statements relating to future plans, targets, or financial efficiency, or the belief underlying any of the foregoing. In some circumstances, forward-looking statements could 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 detrimental thereof or different related expressions regarding issues that aren’t historic information. Examples of such statements embrace, however should not restricted to, statements with respect to the Company’s go-to-market motion plan timeline, the Company’s agenda aligning all elements of engineering improvement, prototype testing, regulatory approvals, software program, and {hardware} integration superior digital applied sciences, advertising and marketing, and gross sales efforts; the Company’s goal markets; the combination of a MaaS, augmented actuality and digital actuality options into the TUGA platform and the Company’s analysis and testing of those options; augmented actuality and digital actuality options, together with tie-ins to Metaverse platforms, providing new customer-centric vertical integration potentialities combining progressive automobile options, journey hailing software program platforms, new consumer purposes and related providers; the Company combining a number of choices; the Company addressing challenges confronted when driving in, between, and round city centres and metropolitan areas; the Company acquiring client curiosity and acceptance and introducing varied income fashions; the Company’s providing a journey sharing-to-ownership mannequin in key places utilizing on-line sensible contracts; the Company dedicating a number of first run automobiles aimed on the journey hailing, journey sharing and supply service segments; the Company providing a uniquely-tailored answer in quickly altering automotive sector; the Company’s commercialization of its automotive ideas, the width of the automobile, the expanded rear axle characteristic of the automobile, the superior connectivity options of the automobile and anticipated advantages, and the km vary and high pace of the automobile, the safety and platform provided by the automobile.
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 situations and anticipated developments, in addition to different components that administration believes to be related and affordable within the circumstances on the date that such statements are made, however which can show to be incorrect. The materials components and assumptions used to develop the forward-looking data contained on this information launch embrace, however should not restricted to, key personnel and certified staff persevering with their involvement with the Company; the Company’s capacity to safe extra financing on affordable phrases; the aggressive situations of the industries during which the Company operates; and legal guidelines and any amendments thereto relevant to the Company.
Forward-looking data entails identified and unknown dangers, uncertainties and different components 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 regarding the longer term 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 affordable phrases or in any respect, in addition to all the different dangers as described within the Company’s ultimate prospectus dated November 30, 2021 underneath 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 components emerge now and again, and it isn’t attainable for the Company’s administration to foretell all such components and to evaluate prematurely the influence of every such issue on the Company’s business or the extent to which any issue, or mixture of things, might 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 mirror data or occasions after the date on which it’s made or to mirror the prevalence of unanticipated occasions, besides as required by legislation, together with securities legal guidelines.
The CSE doesn’t settle for accountability for the adequacy or accuracy of this launch.
