Envirotech Vehicles Delivers Three Vans to New Jersey Customers

Rhea-AI Summary

Envirotech Vehicles, Inc. (NASDAQ:EVTV) has delivered three additional electric vans to customers in New Jersey, increasing total sales under the New Jersey Zero Emission Incentive Program (NJ ZIP) to 53. Since June 2022, 36 vehicles have been delivered via this initiative, which offers up to $100,000 in vouchers for battery-electric vehicles. The NJ ZIP program, funded by the New Jersey Economic Development Authority, aims to reduce emissions and help businesses transition to zero-emission fleets. The company's CEO expressed optimism about growing sales through this program.

Positive

• Delivery of three additional electric vans increases total to 53 under the NJ ZIP program.
• Strong demand for vehicles with 36 delivered since June 2022.
• NJ ZIP program offers substantial financial incentives for businesses transitioning to electric vehicles.

Negative

• None.

OSCEOLA, AR / ACCESSWIRE / October 13, 2022 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), a provider of new zero-emission, purpose-built electric vehicles (the "Company"), announced today that it has recently delivered 3 additional vans to customers in New Jersey, bringing the cumulative total of vehicles sold in New Jersey to Envirotech customers who are recipients of New Jersey Zero Emission Incentive Program ("NJ ZIP") vouchers to fifty-three thus far. Thirty six of the deliveries have taken place since the end of June, 2022.

Phillip Oldridge, CEO of Envirotech Vehicles, commented, "We are pleased to deliver another three vehicles to customers through NJ ZIP. This program continues to be an excellent driver of sales for our Company and we look forward to more opportunities as businesses throughout New Jersey make the switch to zero emissions."

NJ ZIP is a $15 million pilot voucher program that supports businesses and institutions purchasing new, zero-emission vehicles operating in the greater Newark and greater Camden areas by offering up to $100,000 towards the purchase of battery-electric vehicles. The Program intends to fund 100 to 300 vouchers ranging in value from $25,000 to $100,000 for businesses and institutional organizations looking to transition their fleets to zero emissions. Bonuses are available for small businesses and minority-, women-, and veteran-owned businesses. NJ ZIP is funded by proceeds allocated to the New Jersey Economic Development Authority ("NJEDA") by the Regional Greenhouse Gas Initiative ("RGGI") for the purposes of reducing harmful emissions, especially in communities disproportionately impacted by transportation emissions, and creating economic opportunity within the state.

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:
ICR, Inc.
New York, NY
Telephone: (646) 200-8873
Email: envirotech@icrinc.com

Envirotech Vehicles
Susan Emry, Executive Vice President
Telephone: (870) 970-3355 ext. 1001
Email: sue.e@evtvusa.com

Press Inquiries
Stephen Murdoch, VP PR
Telephone: (289) 241-3997
Email: smurdoch@enterprisecanada.com

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

SOURCE: Envirotech Vehicles, Inc

View source version on accesswire.com:
https://www.accesswire.com/720271/Envirotech-Vehicles-Delivers-Three-Vans-to-New-Jersey-Customers

FAQ

What are the recent delivery updates for Envirotech Vehicles (EVTV)?

Envirotech Vehicles recently delivered three electric vans in New Jersey, raising their total deliveries under the NJ ZIP program to 53.

What is the NJ ZIP program and how does it benefit Envirotech Vehicles (EVTV)?

The NJ ZIP program offers businesses up to $100,000 in vouchers to purchase electric vehicles, supporting Envirotech's sales efforts in the state.

How many vehicles has Envirotech delivered under the NJ ZIP program since June 2022?

Since June 2022, Envirotech Vehicles has delivered 36 electric vans under the NJ ZIP program.

What incentives does the NJ ZIP program provide to businesses?

The NJ ZIP program provides vouchers ranging from $25,000 to $100,000 to support the purchase of zero-emission vehicles.