TUGA is a development-stage electric vehicle company involved in the conception, design, and
production of specialized electric vehicles.
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Video Transcript:
I’m Merry Lou Proudfoot for Investmentpitch Media
TUGA Innovations Inc. is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “TUGA”.
TUGA is a development-stage electric vehicle company involved in the conception, design, and
production of specialized electric vehicles.
The company is seeking to develop and market a new class of electric vehicle, which, once fully developed, will be a fore-and-aft 2-seat electric three-wheeled vehicle that can be configured for the leisure, commuter, delivery, taxi, rental and ride share markets.
The TUGA vehicle is being designed to deliver an estimated 160 km range, have an estimated top speed of 90mph.
It will offer the comforts of a car, with an interchangeable multi-body, multi-function platform, but with more protection than a motorcycle.
The vehicle will be no wider than a motorcycle for agility and ease of parking and will have a patent pending expanding rear axle providing enhanced stability and smoothness at cruising speeds.
The company’s go-to-market strategy will combine traditional automotive sector marketing channels with consumer electronics co-partnerships and media influencer campaigns.
Manufacturing is being proposed for key global locations to leverage favourable logistics, taxation and regulatory advantages designed to ensure scalable production cost efficiencies.
According to Statista, the size of the global electric vehicle market is expected to grow from US$171 billion in 2020 to US$725 billion in 2026.
The company recently raised gross proceeds of $4,447,500 from the placement of 11,118,750 units priced at $0.40 per unit.
Each unit consisted of one share and one-half a warrant with each full warrant exercisable at $1.00 for 18 months,
The shares are currently bid at $0.55.
For more information, please visit the company’s website www.TUGAinnovations.com, or contact John Hagie, CEO, at John.hagie@TUGAinnovations.com.
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I’m Merry Lou Proudfoot for Investmentpitch Media
