Envirotech Vehicles Discusses Upcoming Manufacturing Facilities in The United States and 2nd Quarter Results with The Stock Day Podcast
Phoenix, Arizona--(Newsfile Corp. - August 18, 2021) - The Stock Day Podcast welcomed Envirotech Vehicles Inc. (OTCQB: ADOM) ("the Company"), a provider of purpose-built zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. CEO of the Company, Phillip Oldridge, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's background and current projects. "Envirotech Vehicles is a purpose-built manufacturer that specializes in last mile delivery vehicles," said Oldridge. "Class 3 and 4 have been our primary focus this last year, and we now have a Class 5 and Class 6 chassis that will be delivered by the end of the year or first quarter of next year."
"Have you considered adding your own manufacturing plant here in the United States?" asked Jolly. "We're way beyond the consideration stage," said Oldridge. "We are opening manufacturing here in the United States," he shared. "We're very excited about that," said Oldridge, adding that the Company now has four states coming onboard. "We will be making that announcement in early fall of this year."
"Is the lower total cost of ownership resonating with customers?" asked Jolly. "We now have 300 vehicles under production and we are expecting the delivery of at least 100-200 vehicles by Christmas and the final 100 by March of next year," said Oldridge. "As a result, our production numbers and the capital cost of production has come down significantly," explained Oldridge, before elaborating on the vehicles' added benefits including fuel and maintenance savings.
"Can you tell us about the future products you're developing right now?" asked Jolly. "We have a Class 5 and Class 6 truck that we have been working on for the last year," shared Oldridge. "We're past the prototype stage and have actually gone into production," he said. "That will be a game changer for heavier delivery type vehicles," said Oldridge, adding that the Company hopes to receive 25 Class 5 vehicles and 15 Class 6 vehicles by the first quarter of 2022.
Jolly then asked about the Company's second quarter report. "It wasn't as strong as we had all hoped," said Oldridge. "We don't actually record a sale until we make the delivery of the vehicle. So, many of those sales that occurred in the second quarter in terms of a documented transaction will not be delivered until the third quarter," he explained. "I think the third quarter will show a nice change for us."
To close the interview, Oldridge encouraged listeners and shareholders to keep up-to-date with the Company's updates and current projects as they continue to grow and expand their sales pipeline.
To hear Phillip Oldridge's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7925786-envirotech-vehicles-discusses-upcoming-manufacturing-facilities-in-the-united-states-and-2nd-quar
About Envirotech Vehicles
Envirotech Vehicles, Inc. is a provider of purpose-built zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. We serve commercial and last-mile fleets, school districts, public and private transportation service companies and colleges and universities to meet the increasing demand for heavy duty electric vehicles. Our vehicles address the challenges of traditional fuel price cost instability and local, state and federal environmental regulatory compliance. For more information visit www.EVTVUSA.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in reports filed by Envirotech Vehicles, Inc. (formerly ADOMANI, Inc.) with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expected," "believes," "strategy," "opportunity," "anticipated," "outlook," "designed," and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Envirotech Vehicles undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
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Michael K. Menerey, Chief Financial Officer
Telephone: (951) 407-9860 ext. 1205
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