TGI Solar Power Group, Inc. (TSPG: OTC Pink Current) | TGI Updates–Electric Vehicles Sales Status Report for Ukraine

TGI Updates–Electric Vehicles Sales Status Report for Ukraine

May 19, 2017

OTC Disclosure News Service

Ewing, NJ




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Ewing, NJ, 19, 2017, — TGI SOLAR POWER GROUP INC. (TSPG), a
diversified technology company, is pleased to provide an update on status of
Electric V
ehicles in Ukraine, according to
UKRINFORM, Ukrainian multimedia platform for broadcasting (

January-March 2017, 548 electric vehicles and 219 hybrid vehicles were
registered in Ukraine. Compared with the number registered last year, the total
number of electric cars in the first three months increased by 32% and the
total number of hybrid cars grew by 24%,” the statement reads. The experts
predict the dynamics of 3,000 electric and hybrid vehicles for 2017, given the
figures of the first quarter.” 

The initiatives to
stimulate purchases of electric cars are coming, told the head of Ministry of
Infrastructure of Ukraine Vladimir Omelyan. The ministry wishes to provide
subsidies on purchases of electric cars and start domestic production of EV
(electric vehicles). The share of electric cars is set to reach 15% of the
total number by 2020. To make this true, the government will have to abolish
import VAT and other charges, as well as cancel pension fund levy upon first
registration of a EV, considering ecological issues in the take. Such
approaches will reduce prices for EV by more than 21%, according to the
estimates by Ministry of Infrastructure of Ukraine. At this, Ukrainians will be
able to receive a sort of down payment compensation too. The ministry expects
three new electric car producers to enter Ukrainian market in 2017. To note,
world producers of EV are Toyota, Nissan, Volkswagen, PSA Peuageot-Citroen,
Honda, Hyundai, Suzuki, GM and Fiat. Due to its legacy in electric engineering,
Ukraine can host production facilities for EV too, told Vladimir Omelyan. 
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For more information please see under ticker
symbol “TSPG”.

About TGI Solar TGI SOLAR POWER GROUP INC. is a diversified
holding company. TGI’s strategy is to acquire innovative and patented
technologies, components, processes, designs and methods with commercial value
that will give competitive market advantage and generate shareholder value.


Safe Harbor Statements under the Private Securities Litigation
Reform Act of 1965: Those statements contained herein which are not historical
are forward-looking statements, and as such, are subject to risks and
uncertainties that could cause actual operating results to materially differ
from those contained in the forward-looking statements. Such statements
include, but are not limited to, certain delays that are beyond the company’s
control, with respect to market acceptance of new technologies, or product
delays in the testing and evaluation of products, and other risks, as detailed
in the company’s periodic filings with the Securities and Exchange Commission.


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