Another technology company is diving into the automotive market — this time in electric vehicle manufacturing.
TGI Solar Power Group announced Tuesday that it has received a draft of manufacturing agreement, which would allow the company’s automotive division to start producing electric vehicles. The agreement would also allow TGI to move ahead with its plans to expand in Europe.
“I would like to recognize the ZAZ team, our long-term manufacturing partners for TGI AUTO project for their commitment and execution, which will be critical elements in the successful financing and implementation,” said TGI CEO Henry Val.
In its news release, the company did not indicate any plans to produce EVs in Canada or for the Canadian automotive market. However, the company is based in New Jersey and offers services to companies worldwide.
TGI’s overall strategy is to “acquire innovative and patented technologies, components, processes, designs and methods with commercial value” to help ensure they have a competitive market advantage, in addition to generating shareholder value.
