DSG Global Inc (DSGT)

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DSG Global Inc. Announces a Major Strategic Partnership in China to Integrate TAG Systems with Electric Vehicles Incorporating the Company’s Advanced Fleet Management Capabilities


Caribbean

Surrey, British Columbia, Oct. 02, 2019 (GLOBE NEWSWIRE) -- DSG GLOBAL INC. (OTC: DSGT), the world's leading provider of the patented GPS Golf TAG Management System and on-course media system, today announced that it has entered into an exclusive cooperation agreement with Zhejiang Jonway Group Co., Ltd. (“Jonway Group”), a leading manufacturer of electric vehicles in China. Under the agreement, Jonway Group has agreed to purchase the Company’s Tag systems for installation on its vehicles in China and other territories.

Bob Silzer, CEO of DSG Global, commented, “This agreement is a transformational event for the Company as Jonway Group is one of the leading global manufacturers of electric vehicles. Incorporating our Tag systems into many of their vehicles provides and unprecedented opportunity for our Company. They have committed to significant minimum purchase orders, which will contribute near-term revenue and cash flow. Moreover, we look forward to private labeling their vehicles and combining our full range of Tag Systems, including the Tag Infinity for use on golf courses. This provides us immediate entry into the high-margin, low-speed vehicle market, where we can immediately leverage our broad relationships and distribution within the golf industry.”

According to Allied Market Research, the golf cart industry is expected to grow to $2.6 billion by 2023, and the broader low speed vehicle market is expected to reach $11.5 billion by 2023 according to a report by Market Research Future. Mr. Silzer continued, “Based on feedback from our customers, there is significant pent-up demand for a product offering that combines electric vehicles and fleet management. We look forward to aggressively penetrating these multi-billion-dollar markets with a unique and fully integrated offering.”

“In addition to the golf market, there are several other major markets, including transportation, logistics, fleet management to name a few, where we can combine our offering to provide enterprises with a one stop solution by combining first-in-class vehicle tracking with high quality and low-cost electric vehicles. The fact that Jonway Group selected DSG as its exclusive partner is a true testament to our capabilities.”

ABOUT JONWAY GROUP

Jonway is a leading producer of automotive, motorcycle and OEM parts in China. Jonway Automobile has ISO 9000 manufacturing facilities, certified for EV manufacturing, and engineering, sales and customer services facilities in China. Jonway has production capacity of up to 50,000 vehicles per year, over 1 million square feet of factory space, and over 65 acres of land with an established sales distribution network in China. Jonway is well known for their quality manufacturing and is an OEM manufacturer for various well-known companies. For many years they have built high speed vehicles, low speed vehicles, off road vehicles and motorcycles for the Chinese and international markets. Jonway has the ability supply CKD, SKD and CBU vehicles or motorcycles. They also provide millions of parts for various manufactures around the world.

https://www.globenewswire.com/news-release/2019/10/02/1924129/0/en/DSG-Global-Inc-Announces-a-Major-Strategic-Partnership-in-China-to-Integrate-TAG-Systems-with-Electric-Vehicles-Incorporating-the-Company-s-Advanced-Fleet-Management-Capabilities.html