Benzinga | Nov 18, 2021 08:08AM EST

Tantech Holdings' Shangchi Auto Unit Wins New Order For 15 Midibuses, No Terms Disclosed

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 won another new order for 15 of its high-quality, highly efficient customizable midibuses. 10 of the 15 have already been delivered to the customer in the Philippines.

Shangchi 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 15 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, double handrails and lifting rings, among other features.

Mr. Wangfeng Yan, Chief Executive Officer of Tantech, said, "Our business is starting to hit its stride and we expect to see continued growth in 2022 based on our discussions with customers. Investments we made in research and development, sales and marketing, and in our supply chain are helping us build momentum and ensure vehicle inventory. This latest order was another win for our team, as we continue to target larger, multi-vehicle orders to more efficiently leverage our production capabilities. This customer extensively tested one of our prototype vehicles before ordering the 15 midibuses, underscoring the quality of our vehicles. We have confidence in our vehicles because they perform well combined with the fact that we can tailor our vehicles."