STOCK TITAN

Envirotech Vehicles Receives Order for Zero-Emission High-Roof Vans From Coastal Marine Services, Inc.

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Envirotech Vehicles, Inc. (NASDAQ:EVTV) announced a purchase order from Coastal Marine Services, Inc. for three zero-emission high-roof logistics vans. This partnership aims to meet the demand for cleaner fleet vehicles as California moves towards stricter emissions regulations. The vans offer 399 cubic feet of cargo space, a top speed of 62 mph, and a range of approximately 170 miles on a full charge. The purchase is supported by California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project, making these environmentally friendly vehicles more affordable.

Positive
  • Secured purchase order for three zero-emission vans from Coastal Marine Services.
  • Partnership aligns with California's initiative to end fossil fuel vehicle sales by 2035.
  • Vans offer significant cargo capacity and attractive performance specifications.
Negative
  • None.

OSCEOLA, AR / ACCESSWIRE / September 1, 2022 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), a provider of new zero-emission, purpose-built electric vehicles (the "Company"), announced today that it has received a purchase order from San Diego-based Coastal Marine Services, Inc. (CMSI) for three zero-emission high-roof logistics vans.

Phillip Oldridge, Chief Executive Officer of Envirotech Vehicles, commented, "We are excited to partner with CMSI, and to show how our zero-emission vans can meet the need for cleaner fleet vehicles in demanding shipyard and port operations. With the California Air Resources Board moving toward ending sales of new fossil-fuel cars, trucks and SUVs in California by 2035, this partnership points the way to a more sustainable future where the needs of the ports and maritime transportation sector are met without harming the environment."

Established in 1984, Coastal Marine Services, Inc. (CMSI) is a supplier and installer of insulation, lagging (pipe insulation) and deck coverings for the ship-building industry. The company is headquartered in San Diego, Calif. CMSI also has major operations in Washington State's Puget Sound, Norfolk, Va. and Mayport, Fla.

"Here in San Diego, shipyard contractors are very aware and work closely with our residential neighbors regarding greenhouse gas emissions," said CSMI Vice President Edward Bagdasar. "With the purchase of these next-generation, zero-emission commercial vans from Envirotech Vehicles, we are making positive improvements to become greener and more environmentally friendly. We hope other contractors in the area will follow our lead to a cleaner future."

The high-roof logistics vans were purchased by CMSI through California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP), which provides point-of-sale vouchers that make commercial, zero-emissions vehicles more affordable to companies and industry. The vans each have an interior cargo volume of 399 cubic feet, a top speed of 62 mph and produce 161 horsepower and 575 lb/ft of torque. They have a maximum range of approximately 170 miles when fully charged. See full specs here.

For more information about Envirotech Vehicles and its zero-emission high-roof vans, 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

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



View source version on accesswire.com:
https://www.accesswire.com/714260/Envirotech-Vehicles-Receives-Order-for-Zero-Emission-High-Roof-Vans-From-Coastal-Marine-Services-Inc

FAQ

What companies are involved in the purchase order for zero-emission vans?

Envirotech Vehicles, Inc. and Coastal Marine Services, Inc. are involved in the purchase order for zero-emission vans.

What is the significance of the purchase order for EVTV stock?

The purchase order signifies a commitment to sustainability and aligns with regulatory trends, potentially boosting EVTV's stock appeal.

When was the purchase order announced for the electric vans?

The purchase order was announced on September 1, 2022.

What are the specifications of the zero-emission vans ordered by CMSI?

The vans have a cargo volume of 399 cubic feet, a top speed of 62 mph, and a range of approximately 170 miles.

How does the purchase order benefit Envirotech Vehicles?

It enhances Envirotech Vehicles' market presence and supports the transition to environmentally friendly transportation solutions.

Envirotech Vehicles, Inc.

NASDAQ:EVTV

EVTV Rankings

EVTV Latest News

EVTV Stock Data

29.11M
16.62M
16.47%
5.75%
1.95%
Auto Manufacturers
Motor Vehicle Parts & Accessories
Link
United States of America
CORONA