Tantech Subsidiary Announces New 10 Vehicle Order

About this update from Tantech Holdings Ltd.

[{"type":"text","content":"- New 18 Passenger Midibus Order will Ship to Ecuador -\n\n\n\n \n \n LISHUI, China, March 28, 2022 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) (\"Tantech\" or the \"Company\"), today announced that its subsidiary, Shangchi Automobile Co., Ltd., won an additional 10 vehicle order. The latest order for customized, high-end black and yellow midibuses is expected to be delivered to the customer in Ecuador in May 2022. \nShangchi Automobile's fully customizable, diesel light midibuses feature a manual 5 speed transmission and all the luxuries of a high-end bus, including a fuel efficient, luxury travel experience with comfortable seating for 18 passengers. With an overall length of 6 meters, the vehicles have easy USB access charging ports, powerful air conditioning and heating, a state-of-the-art air purification system, and many enhanced safety features, including rear reverse radar, high mount brake lights, power windows, UV glass and LED lights, among other features.\nMr. Wangfeng Yan, Chief Executive Officer of Tantech, said, \"We are seeing increased demand for our midibuses as the global economy continues to reopen, while inventory shortages continue to hamper the passenger vehicle market. We are also benefitting from an uptick in demand for our high efficiency midibus given the steep increase in the cost of gas, which is making it more economical for people to travel in groups rather than having each individual incur separate fuel charges. This trend has added on top of the existing strong push for more environmentally friendly modes of transportation, with companies providing group transportation and people working together to do their part and help the environment. We are also seeing a high level of customer interest given our expanded vehicle portfolio with customers placing multiple vehicle orders and wanting to partner more closely with us to meet their transportation needs. We expect the positive momentum will continue to build as we move through 2022 given the numerous catalysts we are benefitting from.\"\nAbout Tantech Holdings Ltd\nFor the past decade, Tantech has been a highly specialized high-tech enterprise producing, researching and developing bamboo charcoal-based products with an established domestic and international sales and distribution network. Since 2017, when the Company acquired 70% of Shangchi...

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