Envirotech Vehicles Announces Commencement of Trading on the OTCQX(R) Best Market

Rhea-AI Summary

Envirotech Vehicles Inc. (OTCQX:EVTV) has officially commenced trading on the OTCQX Best Market, a milestone achieved by upgrading from the OTCQB Venture Market. This transition reflects the company's adherence to high financial standards and corporate governance. CEO Phillip Oldridge noted significant business momentum, highlighted by a shipment of 40 vehicles, mostly pre-sold, underscoring demand for their electric vehicles. The upgrade aims to enhance visibility among investors, potentially boosting growth and shareholder value in the expanding EV sector.

Positive

• Upgrade to OTCQX Best Market enhances visibility and investor confidence.
• Shipment of 40 vehicles shows strong demand and nearly all accounted for through purchase orders and LOIs.

Negative

• None.

CORONA, CA / ACCESSWIRE / December 3, 2021 / Envirotech Vehicles Inc. (OTCQX:EVTV), a provider of new zero-emission purpose-built electric vehicles, announced that effective today, its common shares have begun trading under the ticker symbol "EVTV" on the OTCQX® Best Market ("OTCQX"). Envirotech upgraded to OTCQX from the OTCQB Venture Market.

The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market is considered an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

"Our upgrade to the OTCQX is a direct reflection of the significant progress our Company has made in a relatively short timeframe," commented Phillip Oldridge, CEO of Envirotech Vehicles. "We are seeing tremendous momentum in our business related to growing market recognition of our best-in-class electric trucks and vans. Most recently, we received a shipment of 40 vehicles at our Corona, California headquarters, nearly all of which are accounted for through purchase orders and LOIs, demonstrating the strong and increasing demand for our vehicles. We are optimistic about our prospects in the marketplace, and we believe that our graduation to trade on the OTCQX market will elevate our visibility to a broader investor audience, helping us to drive continued growth and shareholder value as we position Envirotech Vehicles as a leader in the EV industry."

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/675648/Envirotech-Vehicles-Announces-Commencement-of-Trading-on-the-OTCQXR-Best-Market

FAQ

What does the upgrade to OTCQX mean for Envirotech Vehicles (EVTV)?

The upgrade signifies that Envirotech Vehicles has met high financial and governance standards, enhancing its visibility to investors.

How many vehicles did Envirotech Vehicles receive recently?

Envirotech Vehicles received a shipment of 40 electric vehicles, with most already accounted for through orders.

When did Envirotech Vehicles start trading on the OTCQX market?

Envirotech Vehicles began trading on the OTCQX Best Market effective December 3, 2021.

What is the stock symbol for Envirotech Vehicles?

The stock symbol for Envirotech Vehicles is EVTV.

Why is the OTCQX upgrade important for shareholders of EVTV?

The upgrade is important as it can increase the company's visibility to a broader investor audience, potentially driving growth and shareholder value.