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TGI Updates–Electric Vehicles Sales Status Report for Ukraine

May 19, 2017

OTC Disclosure & News Service

Ewing, NJ -

Ewing, NJ, 19, 2017, -- TGI SOLAR POWER GROUP INC. (TSPG), a diversified technology company, is pleased to provide an update on status of Electric Vehicles in Ukraine, according to UKRINFORM, Ukrainian multimedia platform for broadcasting (https://www.ukrinform.net/rubric-economics/2200798-over-five-hundred-electric-vehicles-registered-in-ukraine-already-this-year.html)

"In January-March 2017, 548 electric vehicles and 219 hybrid vehicles were registered in Ukraine. Compared with the number registered last year, the total number of electric cars in the first three months increased by 32% and the total number of hybrid cars grew by 24%," the statement reads. The experts predict the dynamics of 3,000 electric and hybrid vehicles for 2017, given the figures of the first quarter." 

InVenture states: The initiatives to stimulate purchases of electric cars are coming, told the head of Ministry of Infrastructure of Ukraine Vladimir Omelyan. The ministry wishes to provide subsidies on purchases of electric cars and start domestic production of EV (electric vehicles). The share of electric cars is set to reach 15% of the total number by 2020. To make this true, the government will have to abolish import VAT and other charges, as well as cancel pension fund levy upon first registration of a EV, considering ecological issues in the take. Such approaches will reduce prices for EV by more than 21%, according to the estimates by Ministry of Infrastructure of Ukraine. At this, Ukrainians will be able to receive a sort of down payment compensation too. The ministry expects three new electric car producers to enter Ukrainian market in 2017. To note, world producers of EV are Toyota, Nissan, Volkswagen, PSA Peuageot-Citroen, Honda, Hyundai, Suzuki, GM and Fiat. Due to its legacy in electric engineering, Ukraine can host production facilities for EV too, told Vladimir Omelyan.  - See more at: https://inventure.com.ua/en/news/ukraine/boom-for-electric-vehicles-may-happen-soon-in-ukraine#sthash.NuCCAfsr.dpuf

 

For more information please see www.otcMarkets.com under ticker symbol "TSPG".

About TGI Solar TGI SOLAR POWER GROUP INC. is a diversified holding company. TGI's strategy is to acquire innovative and patented technologies, components, processes, designs and methods with commercial value that will give competitive market advantage and generate shareholder value.

 

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission.

 

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