TUGA Innovations, Inc. announced the execution of a non-binding letter of intent (LOI) for the creation of a consortium with the intent to produce the initial TUGA commercial prototypes, limited series product line, and continued advancements towards future production vehicles. The proposed all-Portuguese consortium comprises TUGA Innovations, VANGEST Group (“VANGEST”), and Optimal Structural Solutions (“Optimal”) as an integrated amalgamation of ongoing efforts for the development of the TUGA three-wheeled, fully electric fore-and-aft 2-seat vehicles. The TUGA urban mobility solution is being designed to offer an optional suite of advanced digital communications and navigation aids and is no wider than a motorcycle for agility offering a patent-pending expanding rear axle for high-speed stability.

The TUGA is also being designed to offer a patent pending expandable chassis designed for improved passenger comfort and cargo handling capability. The LOI encompasses engineering design, dynamic and structural simulations, body moulding, interior design and fabrication, EU regulatory homologation, and integration of subsystems and components It is also proposed that the consortium will model, design, and implement standards of quality for planned future production and assembly of TUGA models at anticipated regional production units within specified sales territories across the globe. Initially, the consortium will be tasked with initiating the Portuguese sales and marketing efforts for high-end limited-edition vehicles, and aid in the implementation of proposed mobility as a service (MaaS) five-star ride-hailing and premium delivery services.

VANGEST is located 135km north of Lisbon and brings over 35 years of innovation and expertise employing integrated services. The company utilizes up-to-date technologies throughout its extensive industrial complex of facilities where twelve independently managed companies and over 300 skilled workers help design and undertake rapid prototyping, tooling, mould production and assembly of products to efficiently service the most demanding industries that build the future: including the automotive, aerospace, advanced electronics, and medical device sectors. Optimal is a Portuguese enterprise founded in 2008 with headquarters in Cascais, near Lisbon.

Optimal is 100% owned by Portuguese private investors and focused on advanced composite and metallic structures incorporating complex systems for applications in automotive, space, aeronautic, and defense sectors. The company has a dedicated team composed of engineers, product assurance and project managers integrated with procurement, storage & logistics, IT, test, and quality control staff. This unique combination provides full assurance of reliability, adherence to the highest industry standards, and responsive commitment to TUGA Innovations' requirements.