Benzinga | Sep 7, 2021 08:14AM EDT

Tantech Holdings Announces Its Shangchi Automobile Co. Subsidiary Has Fulfilled Order For 50 Midibuses

Tantech Holdings Ltd (NASDAQ:TANH) ("Tantech" or the "Company"), a clean energy company in China, today announced that its subsidiary, Shangchi Automobile Co., Ltd., has fulfilled another major new order for 50 midibuses, with delivery for use in Egypt.

Shangchi Automobile's fully customizable 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 15 passengers. With an overall length of 4.96 meters, the vehicles have easy USB access charging ports, powerful air conditioning and a state-of-the-art air purification system, among other features.

Mr. Wangfeng Yan, Chief Executive Officer of Tantech, said, "This is another major new order for us , and we are entering a new accelerated growth phase. Importantly, we are bucking the trend of supply constraints that continues to adversely impact the broader industry. This is a testament to our supply chain relationships and our foresight in securing necessary component inventory in order to meet the higher expected demand we are now seeing."