Around two months ago, the electric vehicle department of DSG Global (OTCMKTS:DSGT) Imperium Motor Company had signed a binding memorandum of understanding with regards to the acquisition of the vehicle wholesaler MTG Inc.
The decision to do that seems to be on the right track considering the fact that the company has already started recording considerable sales. However, it seems that the situation had not really impressed the investors as the DSG Global stock fell by 5% on Monday and it remains to be seen if it can actually mount a recovery over the course of the week.
MTG Inc is based out of Ontario in Canada and is one of the more established automobile exports and import company in the North American region. It has been in business for more than a quarter of a century and has managed to strike up considerable retail connections across the global automobile industry.
DSG Global is looking to use the MTG Inc wholesale business in order to boost its cash flow through positive revenues and in addition to that, it is also looking to strengthen the electric vehicle business further. At this point in time, investors could do well to keep a close eye on the developments with regards to DSG Global’s electric vehicle business.