Nevada, United States--(Newsfile Corp. - August 18, 2021) - Duesenberg Technologies Inc. (OTCQB: DUSYF) (the "Company" or "Duesenberg"), an OTCQB-listed issuer, is excited to announce today that its subsidiary company; Duesenberg Heritage LLC, a Nevada incorporation would be applying to become a Low Volume Manufacturer in United States of America. Duesenberg Heritage LLC will reproduce very limited Duesenberg Heritage electric vehicles which were originally manufactured in the 1920s and 1930s; such as the Duesenberg Model J series.
Duesenberg Heritage will pursue the development of Duesenberg heritage electric vehicles that can be offered under the new rules issued by the National Highway Traffic Safety Administration (NHTSA), which permit low volume motor vehicle manufacturers to sell cars that resemble vehicles produced at least 25 years ago, the Company announced plans to develop compliant versions of its Duesenberg Heritage electric vehicles such as Duesenberg II, Duesenberg Dual-Cowl Phaeton and Duesenberg Murphy Roadster for customers worldwide.
Joe Lim stated, "The collectible car market has reached new heights with record prices being reached at auction. The bill passed by Congress enables Duesenberg to reproduce one of today's most desirable and collectible cars on a limited production basis. Each reproduction can be personalized to fit the customers' needs for individuality making each vehicle produced a collectible."
Congress enacted a bill into law during 2015 that streamlined requirements for small automakers, however implementation was delayed while waiting for NHTSA regulations. The Specialty Equipment Manufacturing Association (SEMA) led the efforts to craft and enact this legislation. According to SEMA, the replica car law and implementing regulations allow a low volume manufacturer like Duesenberg Heritage LLC to construct up to 325 such replica cars a year subject to federal regulatory oversight. The cars must resemble production vehicles manufactured at least 25 years ago and meet current model year emissions standards.
In 2019, the U.S. Environmental Protection Agency (EPA) issued guidelines for installing engine packages from other EPA-certified vehicles and the California Air Resources Board (CARB) issued a regulation for producing compliant engine packages. SEMA sued NHTSA in October 2019 to require the agency to issue regulations allowing the law to take effect. NHTSA issued a proposed rule in January 2020.
The regulation does not take effect until it is officially published in the Federal Register. Low volume vehicle manufacturers will then be required to register with NHTSA, EPA and CARB before selling vehicles and thereafter submit annual reports on vehicle productions.
With the new regulations, Duesenberg would be able to fast pace into the market with its electric vehicle under the new enacted bill.
More information will be the disclosed in the next coming weeks.
About Duesenberg Technologies Inc.
Duesenberg Technologies Inc. was established out of the collective ambition of investors experienced in the online business and marketing. Duesenberg Technologies' goal is to be climate neutral across its full value chain, in line with the goals set by the Paris Agreement. The Company is committed to energy resiliency through Development in Energy Transition Goal with added environmentally friendly technologies to its business strategy. This strategy identifies an immediate and urgent need to reduce greenhouse gas emissions to help mitigate the effects of climate change, reduce energy use, and improve air quality. The Company is posed to play a vital role in supporting all three of these objectives by reducing the environmental impact through manufacturing a new type of luxury electric vehicles.
On behalf of the Board of Directors,
Lim, Hun Beng (Joe), President
CONTACT INFORMATION
Duesenberg Technologies Inc.
+1-236-304-0299
contactus@duesenbergtech.com
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward‐looking information" within the meaning of applicable securities law. Some of the statements contained or incorporated by reference in this business overview are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. These statements are based on the current expectations, forecasts, and assumptions of our management and are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements are sometimes identified by language such as "believe," "may," "could," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "appear," "future," "likely," "probably," "suggest," "goal," "potential" and similar expressions and may also include references to plans, strategies, objectives, and anticipated future performance as well as other statements that are not strictly historical in nature. Readers are cautioned not to place undue reliance on forward-looking statements. They reflect opinions, assumptions, and estimates only of Duesenberg Technology's management, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievement of Duesenberg Technology to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Duesenberg Technology undertakes no obligation to revise or update any forward-looking statements in this business overview, whether as a result of new information, future events or circumstances, or otherwise that may arise on or after the date of any such statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93622
