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Envirotech Vehicles Inc. (OTCQB:ADOM) has received approval from FINRA to change its ticker symbol to EVTV, effective November 17, 2021. This change aligns with the company's rebranding efforts to reflect its focus on zero-emission electric vehicles. CEO Phillip Oldridge noted significant progress in the company's growth strategy, aiming to enhance long-term shareholder value by catering to fleet operators seeking electric vehicle solutions. No action is required from shareholders regarding this change.
Envirotech Vehicles Inc. (OTCQB:ADOM) reported strong financial results for the third quarter ending September 30, 2021, with sales of approximately $709,000, a significant increase from $0 in Q3 2020. The company sold eight vehicles during this quarter, compared to no sales the previous year. Year-to-date sales reached approximately $1.37 million, up from $89,000 in the same period last year. Despite rising sales, the net loss for Q3 2021 was approximately $850,000, higher than the $71,000 loss in Q3 2020. The company holds around $17.6 million in cash as of September 30, 2021.
Envirotech Vehicles, a leader in zero-emission electric vehicles, will hold a conference call on November 11, 2021, at 4:30 p.m. ET to discuss its third quarter 2021 results. Interested parties can access the live webcast at this link or join via phone at (844) 407-9500. A replay will be available until November 25, 2021, using passcode 434640. The company focuses on reducing vehicle ownership costs and supporting fleet operators with emissions compliance, serving various sectors including public transport and education.
Envirotech Vehicles (OTCQB:ADOM) announced the delivery of a Class 4 zero-emission truck to Electric Junk and Hauling, LLC based in Kensington, California. This transaction reflects the growing demand for electric vehicles beyond their existing fleet agreement network. CEO Phillip Oldridge expressed optimism for future collaboration as Electric Junk and Hauling plans to expand its electric vehicle fleet to support environmental cleanup efforts in Contra Costa County.
Envirotech Vehicles, Inc. (OTCQB:ADOM) recently announced the delivery of a van and a truck to Shine Solar, LLC, a company with a growing customer base across several states. This delivery marks progress under a Factory Authorized Representative Agreement established in August 2021, aimed at promoting and servicing Envirotech's zero-emission vehicles. CEO Phillip Oldridge highlighted the expansion efforts, having delivered six vehicles to two FARs and eight vehicles this year, indicating increased market penetration for green energy solutions.
Envirotech Vehicles, Inc. (OTCQB:ADOM) has successfully delivered a cargo van as part of the New Jersey Zero Emissions Program (NJ ZIP). This program, which has a budget of $15 million, offers significant financial incentives to businesses in the Newark and Camden areas for purchasing zero-emission vehicles. With vouchers ranging from $25,000 to $100,000, NJ ZIP aims to encourage the transition to electric vehicles. CEO Phillip Oldridge expressed optimism about the demand for green transportation solutions in New Jersey, signalling potential growth for the company as more deliveries are anticipated.
Envirotech Vehicles, Inc. (OTCQB:ADOM) has announced the delivery of four electric vehicles, including three trucks and one cargo van, to Basin Upfitting. This delivery marks the kickoff of their Factory Authorized Representative Agreement with Wasatch Clean Energy. Basin Upfitting, a family-owned provider based in Salt Lake City, is set to promote and service Envirotech vehicles nationwide. The partnership aims to enhance green transportation solutions across the U.S., leveraging Basin’s established customer base and specialized facilities.
Envirotech Vehicles, Inc. (OTCQB:ADOM) announced a $97,750 voucher approval from the New Jersey Zero Emissions Incentive Program for a Class 4 urban truck sale. This marks the fourth voucher approval, totaling $1,229,000 for 13 vehicles to date. The NJ ZIP program aims to support businesses in transitioning to zero-emission vehicles, offering up to $100,000 per vehicle. Funded by the Regional Greenhouse Gas Initiative, it focuses on reducing emissions and fostering economic opportunities.
Envirotech Vehicles (OTCQB:ADOM) announced on October 8, 2021, that it received a $97,750 voucher from the New Jersey Zero Emissions Incentive Program for a Class 4 logistics van. This marks the third voucher approval since August, contributing to a total of 12 vehicles funded through the program, amounting to $1,131,250. The NJ ZIP program, a $15 million initiative, aims to support businesses transitioning to zero-emission vehicles, especially in communities impacted by transportation emissions.
Envirotech Vehicles (OTCQB:ADOM) announced a $150,000 voucher approval from the New Jersey Zero Emissions Incentive Program for the purchase of two Class 4 logistics vans for the Newark Public Library. The program, which has granted a total of $1,033,500 for 11 vehicles so far, supports businesses transitioning to zero-emission vehicles in Newark and Camden. CEO Philip Oldridge expressed optimism about the growing demand for environmentally friendly vehicles. NJ ZIP is a $15 million initiative offering up to $100,000 in vouchers to encourage electric vehicle adoption in New Jersey.
