SURREY, British Columbia, Feb. 09, 2023 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company") is pleased announced today an update on progress made with LITEBORNE™ Motor Company (LMC), an EV sales and marketing company located in Detroit, MI that offers a wide variety of affordable vehicles equipped for the North American market with emphasis on great design, a green mindset, performance, and functionality. Vehicles include high- speed, mid-speed, and low-speed electric vehicles including cars, trucks, SUVs, vans, buses, and scooters.
LMC has the exclusive rights to distribute the innovative Skywell Automotive Group line up of electric vehicles (EV) in the North American market. Skywell Automobile Group is one of the premier EV manufacturers with a well-established track record for quality products utilizing advanced manufacturing technologies and processes.
LMC is headed by CEO Mr. Alan Wagner, who is an icon in the automotive and transportation industry with executive leadership roles at some of the most significant and pioneering brands in the business over his 35-year career. Mr. Wagner has had the pleasure of working with, General Motors, Ford, Shelby American, Richard Petty Enterprises, Toyota, Chrysler, Mercedes Benz, BMW, and many other noteworthy firms.
Mr. Wagner has built an impressive management team with solid automotive industry credentials. The critical roles of Chief Financial Officer and Executive Director of Operations and Homologation are filled by Mr. Jonathon D’Agostino and Mr. Daniel Lock respectively, each with over 20 years of successful project collaboration with Mr. Wagner.
LMC is progressing as planned on the homologation roadmap and continues to strengthen Its operational processes, marketing plan, and dealer acquisition as it moves to complete the spinout plan from DSG Global [OTCQB: DSGT]. Post funding, LITEBORNE™ will be a private company with 70% being owned by current parent, DSG Global [OTCQB: DSGT] along with a cash settlement.
With seasoned leadership in place LMC is concentrating on completing all requisite trademarking legal tasks and executing the technical and business plan to have the Aurium SEV/ET5 complete homologation in Q3/23 and be ready to fulfill the substantial waitlist for delivery in Q4/ 2023.
DSGT/LMC has further strengthened its relationship with ICON Capital by extending/enhancing its contract. “I am very pleased with the progress we are making with LMC” said Bob Silzer CEO DSG. Silzer goes on to say, “Wagner and his team are a say what they do and do what they say group of professionals and I am pleased and proud to work with them”.
LMC’s mission is to accelerate the inevitable adoption of environmentally responsible transportation solutions by offering a full range of affordable EV vehicles that do not compromise quality, performance, or safety as North America pursues the carbon neutrality mandate.
https://www.globenewswire.com/news-release/2023/02/09/2605100/0/en/Liteborne-Motor-Corporation-Continues-its-Path-to-Product-Delivery-in-Q4-2023.html