Envirotech Vehicles Delivers Vehicle to New Jersey Zero Emissions Incentive Program Voucher Recipient

Rhea-AI Summary

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.

Positive

• Delivery of the first cargo van under NJ ZIP program signifies operational progress.
• The NJ ZIP program allocates $15 million to support zero-emission vehicle purchases, indicating strong market demand.
• Potential for multiple future deliveries as businesses shift to electric vehicles.

Negative

• None.

CORONA, CA / ACCESSWIRE / October 29, 2021 / Envirotech Vehicles, Inc. (OTCQB:ADOM), a provider of new zero-emission, purpose-built electric vehicles (the "Company"), announced today that it has delivered one cargo van to a recipient of in a voucher from the New Jersey Zero Emissions Program ("NJ ZIP" or the "Program").

"We are excited to begin delivering vehicles for the orders we've received in conjunction with NJ ZIP," commented Phillip Oldridge, CEO of Envirotech Vehicles. "There is tremendous interest for green transportation alternatives in the state of New Jersey, as evidenced by the numerous vouchers the Program has already approved for the purchase of our best-in-class vehicles. This is the first of several deliveries to come through NJ ZIP, and we anticipate many more as businesses across New Jersey make the switch to EV."

NJ ZIP is a $15 million pilot voucher program that supports businesses and institutions purchasing new, zero-emission vehicles operating in the greater Newark and greater Camden areas by offering up to $100,000 towards the purchase of battery-electric vehicles. The Program funds 100 to 300 vouchers ranging in value from $25,000 to $100,000 for businesses and institutional organizations looking to transition their fleets to zero emissions. Bonuses are available for small businesses and minority-, women-, and veteran-owned businesses. NJ ZIP is funded by proceeds allocated to the New Jersey Economic Development Authority ("NJEDA") by the Regional Greenhouse Gas Initiative ("RGGI") for the purposes of reducing harmful emissions, especially in communities disproportionately impacted by transportation emissions, and creating economic opportunity within the state.

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.

CONTACT INFORMATION
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, Inc

View source version on accesswire.com:
https://www.accesswire.com/670252/Envirotech-Vehicles-Delivers-Vehicle-to-New-Jersey-Zero-Emissions-Incentive-Program-Voucher-Recipient

FAQ

What is the significance of Envirotech Vehicles' delivery under the NJ ZIP program?

The delivery marks the start of vehicle distributions linked to a $15 million incentive program, highlighting operational achievements.

How much funding does the NJ ZIP program offer for electric vehicle purchases?

The NJ ZIP program offers vouchers ranging from $25,000 to $100,000 for purchasing new zero-emission vehicles.

What areas does the NJ ZIP program target?

The NJ ZIP program targets businesses and institutions in the greater Newark and Camden areas.

What is the overall goal of the NJ ZIP program?

The NJ ZIP program aims to reduce harmful emissions and create economic opportunities in communities affected by transportation emissions.