ADVERTISEMENT
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

IQST – IQSTEL Announces Board Approval To Begin Electric Motorcycle Manufacturing

August 23, 2021 GMT

New York, NY, Aug. 23, 2021 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQB: IQST) today announced the Board of Directors (BOD) has approved Management’s plan for manufacturing its first lot of electric motorcycles to be sold under the Company’s B2C Division EVOSS operating unit. 

Manufacturing is slated to begin in Q4 this year.

Our first EVOSS Electric Motorcycle model for Latin America will compete in the low horsepower market against the 125cc combustion engine or equivalent class motorcycle.

Our first EVOSS Electric Motorcycle model can be used for work or fun. It will be a very versatile EV bike designed for everyday use.

Our EVOSS Electric Motorcycle will be integrated into a complete ecosystem that encompasses the EV user experience from purchase to maintenance to operation.  The EVOSS ecosystem will connect with our existing MAXMO/VIMO ecosystem, providing Electric Motorcycle users with purchase finance, maintenance and operating financial services.

ADVERTISEMENT

Mr. Iglesias commented: “The first batch of our EVOSS Electric Motorcycles will be manufactured in China.  We selected China because it has the most mature market for low horsepower electric motorcycles in the world with more than 400 million of electric motorcycles running at this time. We plan to build on the existing electric motorcycle experience in China adding our technical knowledge to create a high value of EVOSS Electric Motorcycle Ecosystem product for the nascent Latin America EV Bike Market, presenting a huge earlier mover opportunity for IQSTEL.

Mr. Iglesias added, “The decision to organize the Company into two divisions, a B2B division (IQSTelecom: Telecom, Internet of Things, Blockchain) and B2C division (EVOSS: EV Motorcycles, Fintech), enables us to diversify our corporate communication and customer engagement strategies.  In a sense, the B2B and B2C divisions are two separate companies.  The B2B division targeting telecommunication companies with value added products and services where we build the IQSTelecom Brand, and the B2C division targeting the consumer market with Fintech services, some of which are integrated into other consumer ecosystems like transportation, where we build the EVOSS, MAXMO and VIMO brands – all under one holding company iQSTEL”.

iQSTEL Inc.
IR US Phone: 646-740-0907, IR Email: investors@iqstel.com
Source: iQSTEL Inc. and its subsidiaries: www.iqstel.com