LISHUI, China, March 12, 2021 /PRNewswire/ -- Tantech Holdings
Ltd (NASDAQ: TANH) ("Tantech" or the "Company"), a clean energy
company in China, today announced
its subsidiary, Shangchi Automobile Co., Ltd. ("Shangchi"),
fulfilled an OEM order to assemble two prototype midibuses. The
vehicles were shipped on March 8,
2021 with Middle East as
the final destination.
Mr. Wangfeng Yan, Chief Executive Officer of Tantech, said, "We
are very excited about this latest order. It continues the growth
of our vehicle business, as we diversify into what we expect will
be a long-term driver of our revenue and profit growth. We are
optimistic given our successful execution and extensive
opportunities worldwide."
Pursuant to the order, the customer shipped two bodies-in-white
to Shangchi. Shangchi then assembled the prototype midibuses
according to the customer's customized specifics, such as
installing floors, windows, doors and electronic systems and
painting the midibuses. The Company expects this order will lead to
follow-on orders upon satisfactory customer review.
Shangchi focuses on developing and manufacturing
high-efficiency, electric vehicles and fuel powered buses. It has
adjusted to China's new energy
vehicle subsidy policy and COVID-19, and is actively leveraging its
R&D expertise to develop new midibuses and energy-efficient
specialty-use electric vehicles, including logistics vehicles,
street sweepers and ambulances.
About Tantech Holdings Ltd.
Established in 2001 and headquartered in Lishui
City, Zhejiang Province, China, Tantech, together with
its subsidiaries, is now, in addition to be a developer and
manufacturer of bamboo-based charcoal, an innovative leader in the
design, manufacture and distribution of electric vehicles. The
Company has also invested in mining business in 2018 and 2019.
For more information please visit: http://ir.tantech.cn.
Forward-Looking Statements
This news release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulations, and other risks contained in reports filed by the
company with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the Company, are expressly qualified by
this cautionary statement and any other cautionary statements which
may accompany the forward-looking statements. In addition, the
Company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof.
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SOURCE Tantech Holdings Ltd.