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TANH Obtains Official Approval for Two Updated EV Models

2017-07-26 05:00
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LISHUI, China, July 26, 2017 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) (the "Company" or "Tantech") announced today that the Ministry of Industry and Information Technology of the People's Republic of China (MIIT) has included two of its updated electric vehicle models in the "Announcement of Road Motor Vehicle Manufacturing Enterprises and Products" (No.298 New Product Catalog Announcement). The two vehicles are produced by the company's subsidiary Suzhou E Motors Buses Co., Ltd ("Suzhou E Motors"). So far, together with previous approvals from the MIIT, the Company has recognized approvals in a total of 11 electric vehicles models.

The new updated electric bus ZQK6810EV6, one of the two latest models approved by the MIIT, has much higher quality energy intensity and durability compared to previous model ZQK6810EV. It is driven by an updated lithium iron phosphate battery. With a range of more than 300 km (186 miles), the 8.1-meter-long bus can travel as fast as 120 km/h (75mph) and carry as many as 34 passengers. The bus is particularly suited for use as shuttle buses at tourist attractions and airports, or as commuter buses for local communities.

ZQK6810EV8, the other model approved by the MIIT, is a newly designed urban electric bus for city transportation. The bus, 8.1-meters long and powered by electric motors, is equipped with brand new chassis and suspension system. It has a greater carrying capacity and less weight. It travels as fast as 100 km/h (62 mph) with a range of 300 km range on a single charge. The bus carries as many as 46 passengers. It will be a preferred choice for preferred public transportation in major cities and towns. The bus has been put into the trial phase in a few Northern China cities by local bus companies.

Mr. Wang Zhengyu, Chairman of Tantech commented, "With the successful acquisition of Suzhou E Motors, we continue to improving our living environment, especially by replacing traditional highly polluted public transportations with new energy vehicles. The two updated EV models approvals will give us an advantage to seize the opportunity brought by China's strategic policy in public transportation field. We and our partner together will contribute to developing specialty electric vehicles and to gaining greater market shares in specialized EV market. In the foreseeable future, we plan to launch more models and we are in talks to secure more orders."

About Suzhou E Motors Co., Ltd.

Established in April 2011 Suzhou E Motors Co., Ltd. ("Suzhou E Motors") is an innovative leader in the design, manufacture and distribution of electric vehicles ("EVs"). With outstanding quality and reliable battery production, our system enables to effectively integrate renewable and conventional energy sources across all our product lines. Suzhou E Motors offers a wide range of EVs, including urban sanitary vehicles, electric logistics vehicles and mini tourist buses with current annual capacity of approximately 5,000 EVs. For more information please visit: http://www.emotorsbus.com.

About Tantech Holdings Ltd.

Established in 2001 and headquartered in Lishui City, Zhejiang Province, China, Tantech Holdings Ltd., together with its subsidiaries, develops and manufactures bamboo-based charcoal products, including a variety of branded consumer products and electric double-layer capacitor ("EDLC") carbon products for industrial energy applications. The Company aims to transform itself from a bamboo-based charcoal products producer to a vertically integrated company along the EDLC Carbon – power battery – specialty new energy vehicle value chain. For more information please visit: http://www.tantechholdings.com

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.

For more information, please contact:

Tantech Holdings Ltd.
Ms. Ye Ren
IR Manager
+86-578-261-2869
ir@tantech.cn  

View original content:http://www.prnewswire.com/news-releases/tanh-obtains-official-approval-for-two-updated-ev-models-300493554.html

Source: Tantech Holdings Ltd.

Related stocks: NASDAQ-SMALL:TANH

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