DSG Global Inc (DSGT)

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$DSGT - BLOCKBUSTER! BLOCKBUSTER! BLOCKBUSTER NEWS!!!! DSG Global Enters Negotiations for US Manufacturing and Assembly Facilities for its Electric Vehicle Products

https://www.otcmarkets.com/stock/DSGT/news/story?e&id=1802946

SURREY, British Columbia, Feb. 04, 2021 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company") is in active negotiations for multiple US manufacturing and assembly facilities for the Company’s expanding electric vehicle product line up.

“We are vigorously pursuing plans to open our first two US facilities to assemble our electric vehicles,” commented Bob Silzer, President and CEO of DSGT. “We are also working on setting up dealership partnerships across the U.S. in preparation for the launch of EV sales.”

“Opening our first US manufacturing and assembly facility will be a major milestone for the Company. Assembling vehicles in America creates needed jobs and assures our customers the great quality expected from our products,” added William J. Rex, president of the EV bus and motor home division of the Company’s Imperium Motor Company subsidiary.

Having founded Rexhall Industries Inc., a once publicly traded manufacturer of RV and distributor of buses, coaches and chassis imported from Asia, Rex has been involved in vehicle manufacturing and sales since 1987. In addition, he served as President of Establishment Industries Inc./Thor West, a subsidiary of Thor Industries, which manufactured small shuttle buses, and President of BYD Coach, Bus & Truck Mfg a subsidiary of publicly traded BYD Industries.

Silzer also commented: “One of the opportunities we are targeting is in Olympia, Washington, less than 200 miles from our corporate headquarters. In addition to Washington State’s business-friendly tax code, this facility would provide further benefits as it is located on the Nisqually Indian Tribe’s reservation.”

Michael Mason, Nisqually Indian Tribe Economic Development Sr. Manager, stated: “We are excited about the possibility of establishing DSGT’s assembly plants on our property. Not only do we have a strategic location near a major interstate highway and a ready workforce, we very importantly, also are a U.S. General Services Administration (GSA) contractor, which means that we can assist in helping DSG Global sell EV busses, trucks and other vehicles through the GSA program to the federal government.”

“The Nisqually Indian Tribe has working relationships with the Department of Defense and Joint Base Lewis McChord, which is located next to the reservation,” Curtis commented. “Working with the Nisqually and neighboring tribes, we also would be able to pursue grant opportunities that could help us to further accelerate our growth plans.”

Property located on tribal lands is subject to special rules for accelerated depreciation, potentially providing long-term cost savings. There are additional benefits available in the form of direct tax credits related to the hiring of tribe members on tribal land, referred to as the Indian Employment Credit. Employers may gain a tax credit for employer expenses towards the first $20,000 of wages or healthcare benefits paid to an employee who is also a tribe member.

DSGT is also exploring a potential manufacturing and assembly facility, with active negotiations underway in the Midwest.