TUGA Vehicle Development Update

VANCOUVER, British Columbia and LISBON, Portugal, Sept. 07, 2022 (GLOBE NEWSWIRE) — TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF) (“TUGA Innovations,” or the “Company”), a developer of options for city mobility challenges with the TUGA, a brand new kind of electrical car (“EV”), is happy to supply an replace concerning its ongoing car growth program.

Over the previous months, advances have been made concerning practical goals which have led to a number of engineering updates and technical enhancements, and the ensuing proposed creation of a branded household of automobiles (see news release of August 11, 2022) is being designed to serve quite a lot of duties and goals, in addition to to supply various ranges of efficiency and luxury. Throughout this course of, the important thing goal in car growth has persistently been to make sure all engineering components mirror the unique parameters of spirit and design conceived by the Company’s founders.

The operational points for car growth represent three key phases:

1. Preliminary Design and Engineering
2. Detailed Design and Engineering
3. Assembly & Manufacturing

The overarching components which drive the event course of are critically utilized at each section and embrace:

• Innovative design to resolve city mobility difficulties.
• Enhanced efficiency and dealing with in line with technical specs which meet or exceed consumer expertise design expectations.
• Safety as a vital element.

Working as a workforce with our strategic companion for engineering, Optimal Structural Solutions, the Company is happy to advise it has accomplished all preliminary design and engineering phases in preparation for last detailing and readiness for meeting of its proposed manufacturing prototype mannequin.

César Barbosa, VP and TUGA Project Lead, advises, “We’ve made excellent progress in the design and engineering of our vehicle. Our engineers and the team at Optimal Structural Solutions are innovative and flexible in their approach. We are capturing and engineering the essence of what our original idea for an urban mobility solution was meant to be. Step-by-step we have been concretizing our vision of an advanced 3-wheeled electric vehicle into an exciting prototype designed for production.”

Work to-date contains the finished engineering of the chassis, entrance and rear suspensions together with the distinctive TUGA patent-pending retractable rear axle for stability/agility choices, and the revolutionary increasing rear chassis to extend passenger/cargo accessibility. Final particulars are nearing completion concerning the powertrain and all associated battery, digital and mechatronic parts.

The Company anticipates its car growth mission will culminate with the primary manufacturing prototype dubbed “TUGA V0” which is at present scheduled for completion in This autumn of 2022 or Q1 of 2023.

During the event course of TUGA has filed 5 (5) patents encompassing the retracting rear axle, increasing chassis, supply field, good contracts, and “PLUME” system for real-time visualization of car emissions), and anticipates a number of further patent filings as the event mission nears completion.

Samuel Gomez, Head of Engineering at TUGA Innovations, notes, “We’ve looked at multiple aspects of the design and engineering of our unique vehicle and have come up with some significant solutions. We will keep refining these, and of course we will identify additional data from the performance simulations and fabrication efforts as we integrate the various subsystems and commence testing the TUGA V0 Prototype.”

John Hagie, TUGA Innovations CEO provides, “Our vehicle development exemplifies and validates the core values of the company as applied innovation, quality, and collaboration. By combining these qualities, we are working towards our targets in order to deliver tangible value for our dedicated supporters.”

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 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 seeking to cut back city mobility difficulties by creating a family of three-wheeled, totally electrical fore-and-aft 2-seat automobiles. The car is not any wider than a bike for agility and affords 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 expertise to maximise security, efficiency, environmental influence, consolation, upkeep, and navigation. The TUGA car is being designed to ship an estimated 160 km vary, have an estimated prime 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/, watch our video, and comply with us on Instagram, Twitter, and LinkedIn.

For additional info, please contact:
TUGA Investor Relations
Tel: +1 415.799.7911
Email: [email protected]

Forward-Looking Statement

This information launch accommodates statements and data that, to the extent that they don’t seem to be historic reality, might represent “forward-looking information” throughout the that means of relevant securities laws. Forward-looking info might embrace monetary and different projections, in addition to statements concerning future plans, goals, or financial efficiency, or the belief underlying any of the foregoing. In some circumstances, forward-looking statements might be recognized by phrases reminiscent of “aim”, “aims to”, “may”, “would”, “could”, “will”, “will be” “likely”, “expected”, “anticipated”, “proposed”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, “hope”, “the potential to” or the detrimental thereof or different comparable expressions regarding issues that aren’t historic information. Examples of such statements embrace, however usually are not restricted to, statements with respect to the Company addressing challenges confronted when driving in, between, and round city centres and metropolitan areas; the Company’s commercialization of its automotive ideas together with the creation of a branded household of automobiles; the anticipated timelines for growth of a prototype and manufacturing of the car; the Company reaching its supposed targets and delivering worth to its supporters; the submitting of further mental property filings and the timelines thereof; the Company refining the design and engineering of the Company’s car, and figuring out further knowledge from the efficiency simulations and fabrication efforts; the Company commencing testing of the TUGA V0 Prototype; the width of the car, the expanded rear axle function of the car, the superior connectivity options of the car and anticipated advantages, the km vary and prime pace of the car, and the protection, efficiency, and luxury provided by the car.

Forward-looking info 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 cheap 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 info 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 potential to safe further financing on cheap phrases; the aggressive situations of the industries wherein the Company operates; and legal guidelines and any amendments thereto relevant to the Company.

Forward-looking info entails recognized 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 info, 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 cheap phrases or in any respect, in addition to all the different dangers as described within the Company’s last prospectus dated November 30, 2021 beneath the heading “Risks Factors.” Accordingly, readers mustn’t place undue reliance on any such forward-looking info. Further, any forward-looking info speaks solely as of the date on which such assertion is made. New components emerge every so often, and it’s not potential for the Company’s administration to foretell all such components and to evaluate upfront 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 info. The Company doesn’t undertake any obligation to replace any forward-looking info to mirror info 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.

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