On Thursday, iQSTEL Inc (OTCMKTS:IQST) made a major announcement with regards to its operations when it revealed its plans with regards to the start of production of the first batch of EVOSS EV motorcycles.
While the announcement from the company was a significant one, it is also necessary to keep in mind that the iQSTEL stock has performed poorly over the past week and declined by 8% during the period. However, it now remains to be seen if the latest announcement from the company helps the stock in rebounding or not.
The company’s management has reported that the designing work related to the motorcycles for the South American market has almost been completed. The management quantified it at 90%. More importantly, the management reported that the purchase order for the same could be issued soon.
The company noted that it has been working diligently with its China headquartered manufacturing partner and expects to complete the manufacturing of the first batch by December this year. The company also announced yesterday that the iQSTEL management will be present at the site located in China to take the delivery of the first batch of the EVOSS EV motorcycles.