Adomani(R) Announces Official Name Change to Envirotech Vehicles, Inc.

Rhea-AI Summary

ADOMANI, Inc. (OTCQB:ADOM) announced its official name change to Envirotech Vehicles, Inc. This rebranding aligns with the company's transition towards becoming a leader in electric vehicle technology, emphasizing zero-emission, purpose-built vehicles. CEO Phillip Oldridge noted the significant market opportunity and plans to enhance visibility and expand marketing efforts under the new name. Envirotech Vehicles targets commercial fleets and aims to provide sustainable transport solutions while addressing fluctuating fuel costs and environmental regulations.

Positive

• Official rebranding to Envirotech Vehicles aligns with market trends towards electrification.
• Focus on zero-emission vehicles positions the company in a growing industry with substantial market opportunities.
• Plans to expand marketing and partnerships will enhance brand visibility and revenue potential.

Negative

• None.

CORONA, CA / ACCESSWIRE/ June 1, 2021 / ADOMANI, Inc. (OTCQB:ADOM) a provider of new zero-emission, purpose-built electric vehicles, announced today that it has officially changed the company name to Envirotech Vehicles, Inc. (Envirotech Vehicles). The Company will continue trading under the symbol ADOM and plans to change its ticker symbol at a later date.

"We have been doing business as Envirotech Vehicles for several months and are pleased to have received approval for this name change which reflects the transformation of our business into a leading-edge electric vehicle technology company utilizing proprietary systems and technology for purpose built electric vehicles. The name Envirotech better reflects our business going forward: Utilizing cutting-edge technology to provide customers with EV solutions that reduce their carbon footprint," said Phillip Oldridge, Envirotech's Chief Executive Officer.

Mr. Oldridge continued, "The market opportunity in front of us is massive, and we look forward to fulfilling the growing need for purpose built electric vehicles. We have begun to work with partners to build the new brand, increase our visibility, and expand our marketing and sales efforts around the Envirotech name."

About Envirotech Vehicles

Envirotech Vehicles 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 ADOMANI, Inc. (DBA Envirotech Vehicles) 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.

Contact Information

Investor Relations Contacts:

IMS Investor Relations

John Nesbett/Jennifer Belodeau
Telephone: 203.972.9200
Email: jnesbett@imsinvestorrelations.com

Envirotech Vehicles

Michael K. Menerey, Chief Financial Officer
Telephone: (951) 407-9860 ext. 1205
Email: mike.m@EVTVUSA.com

SOURCE: Envirotech Vehicles

View source version on accesswire.com:
https://www.accesswire.com/649641/AdomaniR-Announces-Official-Name-Change-to-Envirotech-Vehicles-Inc

FAQ

What is the new name of ADOMANI, Inc.?

ADOMANI, Inc. has officially changed its name to Envirotech Vehicles, Inc.

What is the stock symbol for Envirotech Vehicles?

The company will continue trading under the symbol ADOM.

Why did ADOMANI change its name?

The name change reflects the company's transformation into a leader in electric vehicle technology.

What market does Envirotech Vehicles target?

Envirotech Vehicles focuses on commercial and last-mile fleets, aiming to meet the demand for heavy-duty electric vehicles.

What opportunities does the company see in the electric vehicle sector?

The company identifies a massive market opportunity for purpose-built electric vehicles, which aligns with sustainability goals.