Tanaris Power Inc. of TANARIS POWER HLDGS INC (OTCMKTS:TPHX) has decided to sign a memorandum of association with C MOR Performance LLC and Enterprise Asset Management for the development of industrial vehicle retrofit.
The announcement was made by Tanaris Power Holdings stating that this MOU would help the company developing a new and advanced line of universal vehicle retrofit kits.
Insights On The Matter:
These kits play a vital role in several Ground Support Equipment vehicles and light industrial vehicles. Reports claim that these kits will be based on Curtis motor controllers and Osprey Lithium-ion vehicle batteries of Tanaris Power.
The development program is supposed to be start by converting GSE baggage tractors that support standard industry components so that it can develop standardized kits in a hassle-free way. As soon as these kits are developed, end users can install them. Apart from this, these kits can be installed by C-MOR Performance in any number of industrial or GSE vehicles.
The senior management of Tanaris Power Holdings is delighted to sign this MOU and hopes that it will take the operational and financial performance of the company to a higher level. According to Bruce Farmer, CEO, Tanaris Power Inc., the prime focus of the company has always been on offering high-end products to customers at the least possible price.
Tanaris intends to offer an excellent electric upgrade option to all the owners of light industrial and fuel-based GSE vehicles that extend the life of their investments without hurting them financially. The company has put a lot of efforts in building these vehicles, which has helped it coming up with the excellent outer body. To make things more beneficial than ever, Tanaris Power looks forward to converting these vehicles to EV, thus avoiding high maintenance cost of the power train and fuel engine. Further updates will be shared from time to time.
TANARIS POWER HLDGS INC (OTCMKTS:TPHX) enjoyed upside for yet another day as it finished the last trading session with a solid gain of 10.10%. The volume surged to 2.3 million, much higher than the daily average of 792,000, suggesting some bottom fishing may be going on. That would be an encouraging fact for the bulls but that accumulation will be meaningful only on a break above the upper boundary of the short term channel, as seen on the chart attached. A successful breakout may extend the rally to $0.20 levels and a rejection at the current levels can push it to a new low.