VANTAS and T-GO Brands Expand Vehicle Agreement; Bringing Jobs to America with Vehicle Manufacturing Plant Plans Adjusted
- Expansion plan covers revisions in U.S. manufacturing timetable
- Pact is expansion of current 2019 agreement HAAH Motors Holdings signed with Sicar
- U.S. sales expected to begin in late 2022
IRVINE, Calif., April 20, 2021 /PRNewswire/ -- HAAH Motors Holdings and Shanghai SICAR Automotive Technology Development Co., Ltd. (Sicar) announced today their signing of a Letter of Intent (LOI) which expands their original Engineering Service Agreement to formation of a joint venture to bring VANTAS and T-GO branded vehicles to the U.S. market and later establish a local U.S. manufacturing plant that would bring jobs to America. Timing for U.S. manufacturing has been adjusted due to the impact of the COVID-19 pandemic.
Sicar is an autonomous and independently operated vehicle technology development company, a wholly owned subsidiary of Chery Automobile, a top tier indigenous global automaker in China.
The LOI covers VANTAS and T-GO branded vehicles that HAAH and the Sicar joint venture will be developing and selling in North America. The first two vehicles to go on sale will be the large-size SUV VANTAS VX and the mid-size SUV VANTAS TXL. Next to enter the market will be two T-GO vehicles including one pickup truck model. They will be followed by additional SUV and passenger car models with intelligence and electrification capabilities.
Sicar and HAAH share the vision for world class intelligent and electric vehicles. While the first two vehicles the brands sell in North America have internal combustion engines, those vehicles are seen as a bridge to a future where electric vehicles will become the product mainstays.
"This agreement expansion is a major step forward as we prepare for the launch of these two brands in the United States and Canada, including future electric vehicles. It expands upon our earlier pact regarding the sales, distribution, and service of vehicles for the VANTAS and T-GO brands. There is no question that electric vehicles are the future in North America, and we're excited to let everyone know of our plans," said HAAH Chairman and Chief Executive Officer Duke Hale.
"While we aren't ready to discuss details of our electric vehicle program just yet, EVs will become the core of our future offerings for VANTAS and T-GO," said Executive Vice President of Sales Bob Pradzinski. "We are eager to join the movement toward a sustainable future filled with electric vehicles and are firmly committed to being a big part of that movement. We're already working on an initial program with one electric vehicle, and there will be more to come."
While all plans for the U.S. manufacturing plant remain in place, the COVID-19 pandemic has forced a delay in the selection of a site. The pandemic created travel restrictions, both in China and the United States, which made it impossible for the company to complete all of the necessary manufacturing engineering reviews for plant location selection as quickly as planned. The company now plans to bring in fully assembled SUVS to North America by the end of 2022. However, even the very first vehicles brought in will have U.S.-made content and that content will grow significantly over time.
This will accommodate the high level of eagerness among VANTAS and T-GO dealers to begin selling vehicles as quickly as possible.
The initial VANTAS VX and TXL SUV models will be supplied by Sicar which will be contract assembled in China.
About HAAH Motors Holdings
HAAH Motors Holdings is a privately held company located in Lake Forest, California. HAAH was formed to fill a void in the market by re-defining the 21st century auto retail experience and by providing a unique turn-key market entry solution for global OEMs seeking to manufacture and sell high-quality, affordable vehicles in the North American market. More information can be found at http://www.haahauto.com
About SICAR
Shanghai Automotive Technology Development Co., Ltd. (SICAR) is an engineering company located in Shanghai, China, a wholly owned subsidiary of Chery Automobile Stock Co., Ltd. (Chery). Sicar has full capability to develop and engineer a world class vehicle from concept to start of production (SOP) through rigorous program management processes and with contracted services from domestic and global engineering service suppliers. Sicar has developed a series of premium vehicle models marketed under EXEED by Chery.
SOURCE HAAH Automotive Holdings
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