Envirotech Vehicles Partners with Olympus Construction for Renovation of State-of-the-Art Manufacturing Facility in Osceola

Rhea-AI Summary

Envirotech Vehicles, Inc. (OTCQX:EVTV) has announced a partnership with Olympus Construction for a major renovation of its 580,000 square foot manufacturing facility in Osceola, Arkansas. The project, estimated to cost over $80 million, will enhance production capacity and efficiency. CEO Phillip Oldridge emphasized the company's commitment to local vendors and community support, having already invested over $100,000 quarterly since relocating to Arkansas in February 2022. This initiative marks a significant step towards advancing green technology in the region.

Positive

• Partnership with Olympus Construction to renovate the manufacturing facility.
• Investment of over $80 million for facility upgrades and machinery.
• Commitment to local community support with over $100,000 invested quarterly.

Negative

• None.

OSCEOLA, AR / ACCESSWIRE / June 3, 2022 / Envirotech Vehicles, Inc. (OTCQX:EVTV), a provider of new zero-emission, purpose-built electric vehicles (the "Company"), has announced a partnership with Arkansas-based Olympus Construction to renovate the Company's state-of-the-art manufacturing facility in Osceola. Located at 1425 Ohlendorf Road in Osceola, Ark., Envirotech's manufacturing facility is approximately 580,000 square feet. The total cost of this industrial renovation project is an estimated investment of more than $80Million to update the facility and to purchase machinery and equipment required to increase production capacity and efficiency.

Phillip Oldridge, CEO of Envirotech Vehicles, commented, "We could not be more thrilled to partner with the experts at Olympus Construction to renovate our first U.S.-based manufacturing facility. Throughout 2022, we are making tremendous progress in pushing the transportation industry forward towards innovation. As we make this progress, we are fully committed to supporting local vendors, nonprofits and community organizations. Since announcing our relocation to Arkansas in February of 2022, the Company has spent in excess of $100,000 a quarter supporting local businesses and community organizations. We at Envirotech are continuing to stand behind our promise to the community: Work Here, Live Here, Invest Here. This partnership is just the beginning as we continue to bring greener technologies and opportunities to Arkansas."

Olympus Construction was established in 1981 as a full-service, family-owned construction company. The company's experience covers a wide range of projects, serving Arkansas, Missouri, Mississippi and Tennessee. In February, the Company announced that it purchased the facility from the city of Osceola to utilize the plant to handle the final outfitting and shipment of its imported vehicles. The Company now plans to move forward with converting the plant into a full manufacturing operation.

"Throughout the years, our dedication to investing in cutting-edge digital technologies and our community has played a vital role in us establishing a successful record as contractors across the state," said Tony Pardew, President and Owner of Olympus Construction. "Envirotech Vehicles continues to show this same deeply rooted commitment to both technology and community service. We are proud to partner with a company that is focused on bringing innovative technology and services to Arkansas, creating a better future for local communities across the state and positioning us as leaders in a growing industry"

"We believe that this is the first of many partnership announcements to come as the Company continues to select local vendors to partner with across the state," stated Susan Emry, Envirotech's Executive Vice President. For updates on the Company, its manufacturing facility and other news, visit 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

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

Susan Emry, Executive Vice President
Telephone: (951) 407-9860 ext. 1207
Email: sue.e@evtvusa.com

SOURCE: Envirotech Vehicles, Inc.

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https://www.accesswire.com/703809/Envirotech-Vehicles-Partners-with-Olympus-Construction-for-Renovation-of-State-of-the-Art-Manufacturing-Facility-in-Osceola

FAQ

What is the recent partnership announced by Envirotech Vehicles (EVTV)?

Envirotech Vehicles (EVTV) announced a partnership with Olympus Construction to renovate its manufacturing facility in Osceola, Arkansas.

How much is Envirotech Vehicles investing in the facility renovation?

Envirotech Vehicles is investing over $80 million in the renovation of its manufacturing facility.

What is the size of Envirotech's manufacturing facility in Osceola?

The manufacturing facility in Osceola spans approximately 580,000 square feet.

How has Envirotech supported the local community since relocating?

Since relocating to Arkansas in February 2022, Envirotech has invested over $100,000 quarterly in local vendors and community organizations.