Envirotech Vehicles and Arkansas Economic Development Commission Announce Partnership Providing Envirotech Up To $27 Million In Economic Incentives
Envirotech Vehicles has partnered with the Arkansas Economic Development Commission to develop its first U.S.-based manufacturing facility in Osceola. This agreement aims to support construction, expansion, and hiring efforts, potentially adding over 850 full-time jobs in Mississippi County. The incentive package could be worth up to $27 million if fully realized. CEO Phillip Oldridge expressed optimism about ramping up EV production. The company's innovative vehicle line includes electric urban trucks and vans designed for various commercial applications.
- Partnership with AEDC to establish a new manufacturing facility in Osceola.
- Potential creation of over 850 full-time jobs in Mississippi County.
- Incentive package valued at up to $27 million.
- Current facility renovations and assembly processes are underway.
- None.
OSCEOLA, AR / ACCESSWIRE / June 30, 2022 / Envirotech Vehicles, Inc. (OTCQX:EVTV)(OTCQX:EVTVD), a provider of new zero-emission, purpose-built electric vehicles (the "Company"or "Envirotech"), has announced a partnership with the Arkansas Economic Development Commission (AEDC) to assist with the Company's first U.S.-based, state-of-the-art manufacturing facility in Osceola. The agreement will aid in facility construction and expansion, in addition to hiring and training efforts to bring more than 850 full-time employees to Mississippi County. The incentive package is worth up to
Phillip Oldridge, CEO of Envirotech Vehicles, commented, "We're excited to announce a partnership with AEDC, which is one of many recent announcements showcasing the Company's ability to ramp up EV production and get more commercial EVs on the road to our customers. We have been making tremendous progress. Final assembly is currently taking place in Osceola and facility renovations are underway. As the state's only licensed auto manufacturer, we're excited to have AEDC on board as we work to hire and train more than 850 employees."
"It is great news that the AEDC and Envirotech Vehicles have partnered together to bring auto manufacturing back to the state," said Arkansas Senator Dave Wallace. "EVT has a proven track record in the EV space with customers all over the country. Electric vehicle demand is growing, and I'm delighted that Arkansas is continuing to gain a foothold in the industry. This partnership will do exceptional things for Mississippi County and for Arkansas."
The Envirotech Vehicles' team brings more than 30 years of in-depth industry expertise, as well as access to an innovative, growing customer-ready product line of vehicles, systems and green technology that serves last-mile fleets, school districts, public and private transportation service companies and colleges and universities to meet the increasing demand for medium to heavy-duty electric vehicles. The Company's products include Electric Urban Trucks, Electric Logistics Vans, Electric Cutaway Vans and Electric Right-Hand Drive Logistics Vans.
On June 3, 2022, EVT announced a partnership with Olympus Construction to assist in the construction and renovation of its 580,000-square-foot facility. To stay up to date on the latest EVT news, please visit www.evtvusa.com.
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
IMS Investor Relations
John Nesbett/Jennifer Belodeau
Telephone: 203.972.9200
Email: evtv@imsinvestorrelations.com
Press Inquiries
Kristen Nicholson, APR
Telephone: 501.350.3658
Email: knicholson@mhpteamsi.com
Envirotech Vehicles
Susan Emry, Executive Vice President
Telephone: (870) 970-3355 ext. 1001
Email: sue.e@evtvusa.com
SOURCE: Envirotech Vehicles, Inc
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