Welcome to our dedicated page for Volcon news (Ticker: VLCN), a resource for investors and traders seeking the latest updates and insights on Volcon stock.
Volcon, Inc. (NASDAQ: VLCN) is pioneering the future of off-road powersports with its all-electric vehicles. Based in Austin, Texas, Volcon designs and manufactures electric two-wheel and four-wheel motorcycles and utility terrain vehicles (UTVs) aimed at revolutionizing off-road adventuring. The company’s innovative product lineup includes the Grunt EVO, an enhanced version of the original Grunt, the Brat e-bike, and the Volcon Youth Motorcycle line, catering to younger riders. The company's flagship UTV, the Stag, offers a unique and silent off-road experience, targeting both the recreational and professional sectors.
Volcon's commitment to sustainability and innovation sets it apart as the first company in its sector to focus exclusively on electric vehicles, thus providing an eco-friendly alternative to traditional gas-powered options. The Grunt EVO, launched in October 2023, boasts a belt drive, improved suspension, and an upgraded seat. Meanwhile, the Brat e-bike, suitable for both on-road and off-road adventures, is making waves across North America.
In recent operational updates, Volcon announced a significant sales growth during the holiday season, attributed to strategic holiday promotions and consistent production improvements. The company also marked a milestone by expanding its product reach into New Zealand, indicating its growing global footprint.
However, Volcon has faced challenges, particularly with the Stag model, encountering supply chain issues. The company remains dedicated to resolving these issues to maintain the highest standards of quality and safety. Despite these hurdles, Volcon continues to deliver, with a recent milestone being the first delivery of the Stag to the United States Army Corp of Engineers for testing under a Cooperative Research and Development Agreement (CRADA).
Financially, Volcon has experienced fluctuations, including stock splits to manage its share count and investor equity. The company recently executed a 1-for-45 reverse stock split and a subsequent 1-for-100 reverse stock split to consolidate shares, aiming to stabilize its market position. Despite these financial adjustments, Volcon's focus remains on expanding its dealership network, now covering 28 states with 105 dealers, and enhancing its product lineup to meet the growing demands of off-road enthusiasts.
Volcon’s leadership, under the helm of CEO John Kim, is strategically aligned with the company's mission to lead in the off-road EV market. Kim brings a personal passion for off-road vehicles, which translates into the company’s robust marketing strategy and product development.
To stay updated on Volcon's latest developments and product offerings, follow them on social media platforms like YouTube, Facebook, Instagram, and LinkedIn, or visit their website at www.volcon.com.
Volcon (NASDAQ: VLCN) has secured a significant supply agreement with Venom-EV for golf carts, receiving an initial order of 500 units. The partnership leverages Venom's established presence across 80 U.S. dealers and their premium golf cart lineup ranging from 2 to 6 seats.
Volcon CEO John Kim highlighted that recent funding enables the company to enter the golf cart market aggressively, with plans to capitalize on market opportunities created by U.S. government tariffs on Chinese-made golf carts. Venom-EV CEO Zack Kraus expressed enthusiasm about the partnership, noting it will support their business growth and dealer network supply.
Volcon ePowersports (NASDAQ:VLCN) announced that their HF1 model has arrived at Lithium Powersports in Jacksonville, Florida. The unit is now available for display and purchase at the dealership location. Customers can view and explore the vehicle either in person at the dealership or through their website.
Volcon ePowersports (NASDAQ:VLCN) has announced the first delivery of its HF1 electric vehicle in Colorado to Hal Calvert, a landowner with an 80-acre property. The customer, who exclusively uses sustainable energy sources, will utilize the HF1 for land navigation and property maintenance tasks.
The company's Chief Sales Officer, Josh Rasmussen, highlighted their hybrid sales model that connects UTV and Golf Cart consumers with Volcon's network of over 100 dealers. All four-wheel units purchased through Volcon.com will be allocated to the nearest dealer for customer support. The company is preparing additional HF1 units at their Texas headquarters and plans to increase deliveries following the product launch.
Volcon ePowersports (NASDAQ:VLCN) has announced that its 250W Brat model has received Japanese government certification, enabling immediate sales across Japan. The company is also pursuing certification for its 750W model. This development marks Volcon's entry into the Japanese market, expanding its international presence in the electric powersports sector.
Volcon ePowersports has undergone a significant strategic transformation under CEO John Kim's leadership. The company has shifted from an R&D-focused organization to one that collaborates with manufacturers to brand and sell electric vehicles. A key development is their partnership with AODES (Super Sonic), which helped raise $19.45 million for expanding into the golf cart and utility vehicle market.
The company benefits from favorable Vietnam tariffs of 2.5% compared to China's 500%, strengthening their manufacturing partnership. The recent investment will fund inventory expansion and sales team growth. The company has implemented cost-reduction measures, including reduced headcount and outsourced marketing. CFO Greg Endo projects achieving cash flow positivity by Q4 2025 with operations funded into 2026.
Volcon (Nasdaq: VLCN) has successfully closed its previously announced underwritten public offering, raising $12.0 million in gross proceeds. The offering comprised 6,000,000 Common Units, each consisting of one share of Common Stock or Pre-Funded Warrant and one Registered Common Warrant. The Common Units were priced at $2.00 each, with Common Warrants exercisable at $2.00 per share for 60 months.
Additionally, the company recently sold 1,831,558 shares through its At-The-Market agreement for approximately $9.47 million. Following the offering's closure and assuming all Pre-Funded Warrants are exercised, Volcon's outstanding Common Stock totals 8,572,429 shares. The company plans to use the net proceeds for general corporate purposes and working capital.
Volcon (NASDAQ:VLCN) has announced the pricing of a $12.0 million underwritten public offering. The offering consists of 6,000,000 Common Units at $2.00 per unit (or $1.99999 for Pre-Funded Units). Each unit includes one share of Common Stock or Pre-Funded Warrant and one Registered Common Warrant exercisable at $2.00.
The Common Warrants have a 60-month expiration period from issuance. The transaction is expected to close around February 6, 2025. The company plans to use proceeds for general corporate purposes and working capital. Previously, Volcon sold 1,831,558 shares through an At-The-Market offering for approximately $9.47 million. Post-offering, assuming all Pre-Funded Warrants are exercised, Volcon would have approximately 8,475,607 shares outstanding.
Aegis Capital Corp. is serving as the sole book-running manager for this offering.
Volcon (Nasdaq: VLCN), an all-electric off-road powersports company, has announced the launch of a proposed public offering of securities. The offering includes common stock (or pre-funded warrants) and warrants to purchase common stock. Aegis Capital Corp is serving as the sole book-running manager on a firm commitment basis.
The company plans to use the net proceeds for general corporate and working capital needs. The offering is being made through an effective shelf registration statement on Form S-3 and will be conducted via a prospectus supplement and accompanying prospectus. The completion, size, and terms of the offering are subject to market conditions.
Volcon (NASDAQ: VLCN) has signed an agreement to become the exclusive U.S. distributor of Super Sonic (AODES) golf carts. Super Sonic, which manufactures in Vietnam, is already producing Volcon's MN1 Adventurer and MN1 Tradesman models. The strategic importance of this partnership is heightened by recent trade developments: Chinese golf cart imports face significant tariffs (149% to 500%) following an antidumping petition, while Vietnamese imports are taxed at just 2.5%.
This competitive advantage positions Volcon to potentially capture market share from Chinese manufacturers who supplied $450 million worth of golf carts (114,000 units) to the U.S. in 2023. The company sees opportunities to supply major retailers like Lowes, Home Depot, Tractor Supply, and Bass Pro Shop, which currently source from Chinese manufacturers. Additionally, Super Sonic is developing new golf cart designs that could revolutionize performance, style, and comfort.
Volcon ePowersports (NASDAQ: VLCN) has announced the arrival of their HF1 model at Lithium Powersports in Jacksonville, Florida. The unit is now available for public viewing and purchase at the dealership. Customers can experience the vehicle in person at the dealership location or visit their website at lithiumpowersports.com for more information.
FAQ
What is the current stock price of Volcon (VLCN)?
What is the market cap of Volcon (VLCN)?
What does Volcon, Inc. specialize in?
What are some of Volcon's key products?
Where is Volcon, Inc. based?
How has Volcon, Inc. addressed recent supply chain challenges?
What recent financial adjustments has Volcon made?
Who is the current CEO of Volcon, Inc.?
How extensive is Volcon's dealership network?
What are Volcon’s plans for future product development?
What sets Volcon's products apart from traditional off-road vehicles?
How can consumers stay updated on Volcon's latest news?
