AERWINS Technologies Plans To Obtain XTURISMO FAA Approval Established U.S. Subsidiary
Portfolio Pulse from Benzinga Newsdesk
AERWINS Technologies Inc. (NASDAQ:AWIN) plans to establish a US subsidiary in Los Angeles to redesign its XTURISMO Ltd Edition prototype 1 hoverbike for wider markets, including the US and Europe. The company aims to seek certification of the XTURISMO by the FAA. The redesign will include various enhancements and will be led by the company's Executive Chairman and President, Kiran Sidhu. Sidhu has agreed to provide up to $300,000 in working capital for the initial phase of this redesign initiative.
October 09, 2023 | 12:38 pm
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AERWINS Technologies' plan to establish a US subsidiary and redesign its XTURISMO hoverbike for wider markets could potentially increase its market reach and revenue. The company's commitment to this initiative is demonstrated by the personal financial support from its President.
The establishment of a US subsidiary and the redesign of the XTURISMO hoverbike could potentially open up new markets for AERWINS Technologies, including the US and Europe. This could lead to increased sales and revenue for the company. The personal financial support from the company's President demonstrates a strong commitment to this initiative, which could boost investor confidence.
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