Envirotech Vehicles Announces Delivery of Electric Vehicles and Forklift to PlugD

Rhea-AI Summary

Envirotech Vehicles, Inc. (EVTV) announces the delivery of 6 electric vehicles and 1 forklift to PlugD Commercial Electric Leasing and Rentals Inc. as part of a sales agreement. The company will receive funding before March 29, 2024, net of a $200,000 deposit. PlugD CEO expresses excitement for the partnership and plans for the vehicles.

OSCEOLA, AR / ACCESSWIRE / March 28, 2024 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), a provider of new zero-emission, purpose-built electric vehicles ("EVTV" or the "Company"), today announced that the Company will deliver a total of 6 electric vehicles and 1 forklift to PlugD Commercial Electric Leasing and Rentals Inc. ("PlugD"), a Texas-based commercial electric vehicle leasing company by Friday, March 29, 2024 as part of a previously announced sales and purchase agreement. EVTV will receive the funding before March 29, 2024, net of a deposit of $200,000 received previously for future deliveries in conjunction with this agreement.

"We are pleased and very excited to deliver these first 6 electric vehicles of the 200 ordered along with one of our electric forklifts to PlugD. Our team's commitment to this project is of the utmost importance." Said Phillip Oldridge, CEO of Envirotech Vehicles.

PlugD CEO Adam Greenberg expressed excitement, stating, "This marks the beginning of numerous premium deliveries to our valued PlugD customers and signifies a strong commitment to our successful partnership with Envirotech Vehicles. Of the 6 total vehicles, we will be sending two Class-3 vehicles for a pilot program with The FRONTDoor Collective, doing last mile deliveries for a major retailer. The box truck and stake bed truck we are receiving will be delivered to MedProtect, delivering medical supplies to hospitals throughout Texas. The forklift and other class 3 vehicle will be sent to Gator Chemical for their pipeyard and chemical movement. The zipper we will be receiving will be used at an airport for security and perimeter control. Thank you to the Envirotech team for delivering our first batch of vehicles."

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.

Envirotech Vehicles, Inc.

Franklin Lim, CFO
Telephone: (870) 970-3355
Email: franklin.l@evtvusa.com

PlugD Commercial Electric Leasing and Rentals Inc.

Vanessa Castro, Director of Communications
media@poweredbyplugd.com

SOURCE: Envirotech Vehicles, Inc

View the original press release on accesswire.com

FAQ

How many electric vehicles and forklifts will Envirotech Vehicles deliver to PlugD?

Envirotech Vehicles will deliver a total of 6 electric vehicles and 1 forklift to PlugD.

When will Envirotech Vehicles receive the funding for the delivery?

Envirotech Vehicles will receive the funding before March 29, 2024, net of a $200,000 deposit.

What are the plans for the delivered vehicles according to PlugD CEO Adam Greenberg?

PlugD plans to use two Class-3 vehicles for a pilot program with The FRONTDoor Collective, a box truck and stake bed truck for medical supply deliveries to hospitals, a forklift and another class 3 vehicle for chemical movement at Gator Chemical, and a zipper for security and perimeter control at an airport.