Envirotech Vehicles Announces Osceola, Arkansas as Site of its State-of-the-Art Manufacturing Facility

Rhea-AI Summary

Envirotech Vehicles, Inc. (OTCQX:EVTV) has selected Osceola, Arkansas, for its new manufacturing facility, acquiring a 580,000 square foot site. The investment exceeds $80 million over five years and is projected to create over 800 jobs. The facility will initially manage the final outfitting of imported vehicles while transitioning to full production. Phillip Oldridge, CEO, emphasized confidence in the local workforce and business climate. The facility aims to position EVTV as a leader in sustainable manufacturing, contributing to the growing demand for zero-emission vehicles.

Positive

• Creation of over 800 jobs in Osceola, Arkansas.
• Investment exceeding $80 million planned over five years.
• Strategic location near the Mississippi River to facilitate operations.
• Transitioning facility to eventually support full-scale electric vehicle manufacturing.

Negative

• None.

CORONA, CA / ACCESSWIRE / February 22, 2022 / Envirotech Vehicles, Inc. (OTCQX:EVTV), a provider of new zero-emission, purpose-built electric vehicles (the "Company"), has announced Osceola, Arkansas as the site of its previously announced state-of-the-art manufacturing facility. The Company has purchased an approximately 580,000 square foot facility, located at 1425 Ohlendorf Road, and hiring for the facility will commence immediately. The manufacturing facility is expected to create more than 800 jobs as well as additional indirect jobs in Mississippi County.

Phillip Oldridge, CEO of Envirotech Vehicles, commented, "We are thrilled to announce that we have chosen Osceola as the home of our first U.S.-based manufacturing facility, backed with the support of the Great River Economic Development Foundation and the state of Arkansas. We are confident that Osceola has the perfect business climate and local workforce to allow us to see growth and success in the region as the state's first commercial electric vehicle manufacturer. This, and the plant's location near the Mississippi River with access to the port of Osceola, will be vital as we position EVT to bring new innovation and technology advancements to the state."

Envirotech Vehicles purchased the facility from the city of Osceola and intends to initially utilize the plant to handle the final outfitting and shipment of its imported vehicles while simultaneously converting the plant into a full manufacturing operation. The total cost of the project is an estimated investment of more than $80 million within five years, which includes the cost of the building, equipment and other costs.

When asked about the impact Envirotech Vehicles will have on sustainable manufacturing in the state, David B. Burritt, U. S. Steel President and Chief Executive Officer said, "As the only LEED certified steel mill in America, U. S. Steel's Big River Steel enthusiastically welcomes Envirotech Vehicles to Arkansas. With forward thinking enterprises such as EVTV, Arkansas is becoming a center for advanced, sustainable manufacturing in the United States. We are pleased to be partnering with Envirotech Vehicles in producing a future that is Best for All."

Clif Chitwood, President of the Great River Economic Development Foundation commented, "We have been intently focused on diversifying the economic profile of Mississippi County by attracting companies from new industries. Envirotech has a long history of producing purpose-built electric trucks and vans, and we believe the Company will be a valuable addition to the area, bringing a combination of employment opportunities, including technology, manufacturing and engineering."

Sally Wilson, Mayor of Osceola said, "We're pleased to welcome Envirotech Vehicles to our city and believe that their selection of Osceola for the establishment of their U.S. manufacturing operations demonstrates their confidence in our workforce and the economic strength in our area."

John Ambler, Vice President Corporate Communications U.S. Steel commented, "As the only LEED certified steel mill in America, U. S. Steel's Big River Steel enthusiastically welcomes Envirotech Vehicles to Arkansas. With forward thinking enterprises such as EVT, Arkansas is becoming a center for advanced, sustainable manufacturing in the United States. We are pleased to be partnering with Envirotech Vehicles in producing a future that is best for all."

The Envirotech Vehicles' team brings more than 30 years of 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 heavy-duty electric vehicles. The Company is currently manufacturing and delivering three products to customers: Electric Urban Trucks, Electric Logistics Vans and Electric Cutaway Vans.

The Company is recruiting for manufacturing, engineering, and other professional positions. For more information, please visitwww.evtvusa.com.

For photos, video and more information, please visit bit.ly/EVTVPressKit22.

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

Arkansas Press Inquiries

Kristen Nicholson, APR
Telephone: (501) 350-3658
Email: knicholson@mhpteamsi.com

Envirotech Vehicles

Christian S. Rodich, Chief Financial Officer
Telephone: (951) 407-9860 ext. 1207
Email: sue.e@evtvusa.com.com

SOURCE: Envirotech Vehicles, Inc.

View source version on accesswire.com:
https://www.accesswire.com/689764/Envirotech-Vehicles-Announces-Osceola-Arkansas-as-Site-of-its-State-of-the-Art-Manufacturing-Facility

FAQ

What is the significance of Envirotech Vehicles' new manufacturing facility in Osceola, Arkansas?

The new facility represents a significant investment in sustainable manufacturing, creating over 800 jobs and positioning Envirotech as a key player in the electric vehicle market.

How much is Envirotech Vehicles investing in the Osceola facility?

Envirotech Vehicles is investing more than $80 million in the Osceola facility over the next five years.

What type of jobs will be created in Osceola by Envirotech Vehicles?

Envirotech Vehicles plans to create over 800 jobs, including positions in manufacturing, engineering, and professional roles.

What products will be manufactured at the new Envirotech facility?

The facility will initially focus on outfitting imported vehicles and later transition to manufacturing electric urban trucks, logistics vans, and cutaway vans.

When will hiring for the Osceola facility begin?

Hiring for the Osceola facility will commence immediately following the announcement.