California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project Approves Two Vouchers for the Purchase of Two Envirotech Vehicles Inc. Trucks

Rhea-AI Summary

Envirotech Vehicles (OTCQX:EVTV) announced the approval of two vouchers totaling $132,000 under California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). These funds will assist in the purchase of two Class 4 trucks, enhancing sales momentum for the company. With over 1,400 fleets and more than 7,000 clean vehicles funded to date, HVIP plays a critical role in California's transition to zero-emission vehicles. Envirotech aims to support businesses in adopting green transportation solutions as additional funding becomes available in early 2022.

Positive

• Approval of vouchers worth $132,000 boosts sales prospects for Envirotech's Class 4 trucks.
• Participation in HVIP aligns with California's push for zero-emission vehicle adoption, promising future incentives.

Negative

• None.

CORONA, CA / ACCESSWIRE / December 7, 2021 / Envirotech Vehicles, Inc. (OTCQX:EVTV), a provider of new zero-emission, purpose-built electric vehicles (the "Company"), announced today that the California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project ("HVIP" or the "Project") has awarded two vouchers with a total value of $132,000 toward the purchase of two of the Company's Class 4 trucks.

"In addition to the recent success we've seen with our FAR network and NJ ZIP, HVIP provides us with valuable added momentum for the sale of our best-in-class trucks and vans," Phillip Oldridge, CEO of Envirotech Vehicles, commented. "California is a leader in the transition to zero-emission vehicles, and we hope that these voucher approvals are the first of many more. We look forward to assisting businesses throughout the state as they take the initiative to transition to green transportation."

HVIP provides incentives for the purchase of clean trucks and buses via point-of-sale discounts to power California communities and drive commercial technology transformation. To date, HVIP has more than 1,400 fleets participating in the Project and has funded more than 7,000 clean vehicles. Additional HVIP funds are anticipated to be available for request in the first part of calendar year 2022.

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. 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.com

SOURCE: Envirotech Vehicles, Inc.

View source version on accesswire.com:
https://www.accesswire.com/676193/California-Hybrid-and-Zero-Emission-Truck-and-Bus-Voucher-Incentive-Project-Approves-Two-Vouchers-for-the-Purchase-of-Two-Envirotech-Vehicles-Inc-Trucks

FAQ

What is the total value of the vouchers approved for Envirotech Vehicles under the HVIP?

The vouchers approved for Envirotech Vehicles have a total value of $132,000.

How many clean vehicles have been funded by HVIP to date?

HVIP has funded more than 7,000 clean vehicles to date.

What type of vehicles is Envirotech focusing on?

Envirotech Vehicles specializes in purpose-built zero-emission electric vehicles, including Class 4 trucks.

When is additional HVIP funding expected to be available?

Additional HVIP funds are anticipated to be available for request in the first part of calendar year 2022.

How many fleets are currently participating in the HVIP?

More than 1,400 fleets are currently participating in the HVIP.