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Volcon ePowersports has undergone a significant transformation under CEO John Kim's leadership over the past 12 months. The company has shifted from an R&D-focused organization to one that collaborates with manufacturers to brand and sell electric vehicles. This strategic pivot was highlighted by their recent AODES (Super Sonic) collaboration, which secured $19.45 million in funding for their golf cart and utility vehicle market expansion.
The company is leveraging Vietnam's favorable 2.5% tariff rate compared to China's 500%, positioning them to import high-quality, low-cost electric vehicles. The funding will primarily support inventory acquisition and sales team expansion. CFO Greg Endo projects the company to achieve cash flow positivity by Q4 2025 and maintain operational funding through 2026.
Volcon has implemented significant cost reductions through streamlined manufacturing and outsourced marketing while maintaining their commitment to two-wheel vehicles. The company aims to capitalize on the disruptive market opportunity in the US golf cart and UTV sectors.
Volcon ePowersports ha subito una trasformazione significativa sotto la guida del CEO John Kim nell'ultimo anno. L'azienda è passata da un'organizzazione focalizzata sulla ricerca e sviluppo a una che collabora con i produttori per marchiare e vendere veicoli elettrici. Questo cambiamento strategico è stato evidenziato dalla loro recente collaborazione AODES (Super Sonic), che ha assicurato 19,45 milioni di dollari in finanziamenti per l'espansione nel mercato dei golf cart e dei veicoli utilitari.
L'azienda sta sfruttando il favorevole tasso tariffario del 2,5% del Vietnam rispetto al 500% della Cina, posizionandosi per importare veicoli elettrici di alta qualità e a basso costo. I finanziamenti supporteranno principalmente l'acquisizione di inventario e l'espansione del team di vendita. Il CFO Greg Endo prevede che l'azienda raggiungerà una positività di flusso di cassa entro il Q4 2025 e manterrà il finanziamento operativo fino al 2026.
Volcon ha implementato significative riduzioni dei costi attraverso una produzione snella e marketing esternalizzato, mantenendo comunque il proprio impegno verso i veicoli a due ruote. L'azienda mira a capitalizzare sull'opportunità di mercato dirompente nei settori dei golf cart e dei UTV negli Stati Uniti.
Volcon ePowersports ha experimentado una transformación significativa bajo el liderazgo del CEO John Kim en los últimos 12 meses. La compañía ha pasado de ser una organización centrada en I+D a colaborar con fabricantes para marcar y vender vehículos eléctricos. Este cambio estratégico se destacó con su reciente colaboración AODES (Super Sonic), que aseguró 19,45 millones de dólares en financiamiento para la expansión de su mercado de carritos de golf y vehículos utilitarios.
La empresa está aprovechando la favorable tasa arancelaria del 2,5% de Vietnam en comparación con el 500% de China, posicionándose para importar vehículos eléctricos de alta calidad y bajo costo. El financiamiento apoyará principalmente la adquisición de inventario y la expansión del equipo de ventas. El CFO Greg Endo proyecta que la compañía alcanzará una positividad en el flujo de caja para el cuarto trimestre de 2025 y mantendrá el financiamiento operativo hasta 2026.
Volcon ha implementado reducciones significativas de costos a través de una fabricación optimizada y marketing externalizado, mientras mantiene su compromiso con los vehículos de dos ruedas. La empresa busca capitalizar la oportunidad de mercado disruptiva en los sectores de carritos de golf y UTV en EE. UU.
Volcon ePowersports는 지난 12개월 동안 CEO John Kim의 리더십 아래에서 중요한 변화를 겪었습니다. 이 회사는 연구 및 개발 중심의 조직에서 제조업체와 협력하여 전기차를 브랜드하고 판매하는 조직으로 전환했습니다. 이 전략적 전환은 최근의 AODES (Super Sonic) 협력으로 강조되었으며, 이는 골프 카트 및 유틸리티 차량 시장 확장을 위해 1,945만 달러의 자금을 확보했습니다.
회사는 베트남의 2.5%의 유리한 관세율을 활용하여 중국의 500%와 비교하여 고품질 저비용 전기차를 수입할 수 있는 위치에 있습니다. 이 자금은 주로 재고 확보 및 판매 팀 확장을 지원할 것입니다. CFO Greg Endo는 회사가 2025년 4분기까지 현금 흐름 긍정성을 달성할 것이며 2026년까지 운영 자금을 유지할 것이라고 예상하고 있습니다.
Volcon은 제조 공정을 간소화하고 마케팅을 아웃소싱하여 상당한 비용 절감 조치를 시행했으며, 두 바퀴 차량에 대한 헌신을 유지하고 있습니다. 이 회사는 미국의 골프 카트 및 UTV 부문에서 파괴적인 시장 기회를 활용할 계획입니다.
Volcon ePowersports a subi une transformation significative sous la direction du PDG John Kim au cours des 12 derniers mois. L'entreprise est passée d'une organisation axée sur la R&D à une qui collabore avec des fabricants pour marquer et vendre des véhicules électriques. Ce pivot stratégique a été mis en avant par leur récente collaboration AODES (Super Sonic), qui a sécurisé 19,45 millions de dollars de financement pour l'expansion de leur marché de chariots de golf et de véhicules utilitaires.
L'entreprise tire parti du taux tarifaire favorable de 2,5 % du Vietnam par rapport à 500 % en Chine, ce qui lui permet d'importer des véhicules électriques de haute qualité et à bas coût. Le financement soutiendra principalement l'acquisition de stocks et l'expansion de l'équipe de vente. Le CFO Greg Endo prévoit que l'entreprise atteindra une positivité des flux de trésorerie d'ici le quatrième trimestre 2025 et maintiendra son financement opérationnel jusqu'en 2026.
Volcon a mis en œuvre d'importantes réductions de coûts grâce à une fabrication rationalisée et un marketing externalisé tout en maintenant son engagement envers les véhicules à deux roues. L'entreprise vise à capitaliser sur l'opportunité de marché perturbatrice dans les secteurs des chariots de golf et des UTV aux États-Unis.
Volcon ePowersports hat unter der Leitung von CEO John Kim in den letzten 12 Monaten eine bedeutende Transformation durchlaufen. Das Unternehmen hat sich von einer F&E-orientierten Organisation zu einer entwickelt, die mit Herstellern zusammenarbeitet, um Elektrofahrzeuge zu brandmarken und zu verkaufen. Diese strategische Wende wurde durch ihre jüngste AODES (Super Sonic) Zusammenarbeit hervorgehoben, die 19,45 Millionen Dollar an Finanzierungen für die Expansion in den Markt für Golf-Carts und Nutzfahrzeuge sicherte.
Das Unternehmen nutzt den günstigen Zollsatz von 2,5% in Vietnam im Vergleich zu 500% in China, was es ihnen ermöglicht, hochwertige, kostengünstige Elektrofahrzeuge zu importieren. Die Finanzierung wird hauptsächlich die Beschaffung von Lagerbeständen und die Expansion des Vertriebsteams unterstützen. CFO Greg Endo prognostiziert, dass das Unternehmen bis zum Q4 2025 positive Cashflows erzielen wird und die Betriebsfinanzierung bis 2026 aufrechterhalten kann.
Volcon hat erhebliche Kostensenkungen durch optimierte Fertigung und ausgelagerte Marketingmaßnahmen umgesetzt und gleichzeitig sein Engagement für Zweiradfahrzeuge beibehalten. Das Unternehmen plant, die disruptive Marktchance im Golf-Cart- und UTV-Sektor in den USA zu nutzen.
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AUSTIN, TX / ACCESS Newswire / February 10, 2025 / After one year of John Kim at the helm of Volcon ePowersports, their recent successes can be attributed to his strategic shift. In the last 12 months Mr. Kim was able to switch Volcon from being a mostly R&D organization developing its own electric offroad technologies into a company that is focused on collaborating with manufacturers to brand and sell high-quality electric vehicles. This has positioned Volcon to be a true disruptor in the ePowersports business, which was made especially apparent with their recent AODES (Super Sonic) collaboration.
Volcon's AODES (Super Sonic) announcement allowed them to raise
Mr. Kim noted, "The investment that we received last week will fund our push to grab market share during this disruptive market opportunity. The bulk of the investment will fund much needed golf cart and UTV inventory to fuel consumer demand and also to expand our sales team. At this time, we see a clear path toward growing the total number of vehicles we sell every year as well as a road to profitability."
Volcon's changed approach in bringing products to market has significantly reduced headcount and costs. In addition to cost-effective manufacturing practices, the company has lowered marketing costs by outsourcing to and working with specialized marketing firms to grow their marketing share more effectively. Volcon will continue to evaluate their costs and reduce accordingly.
Greg Endo, CFO, notes "with the cost reductions we have made and the anticipated working capital requirements to fund inventory purchases John notes, we expect to be cash flow positive on a monthly basis by the fourth quarter of 2025 and will be able to fund operations into 2026."
In addition to obtaining market share of golf carts and UTVs in the US, the company is still committed to innovating and selling two-wheel vehicles. For more information on the company's expansion efforts and the six-month update from August 2024, please refer to the links below. Volcon looks forward to a strong year and is grateful to their shareholders and customers for their continued support.
https://ir.volcon.com/news-events/press-releases/detail/113/6-month-volcon-ceo-update
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About Volcon
Based in the Austin, Texas area, Volcon was founded as the first all-electric power sports company producing high-quality and sustainable electric vehicles for the outdoor community. Volcon electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience.
Volcon's vehicle roadmap includes both motorcycles and UTVs. Its first product, the innovative Grunt, began shipping to customers in late 2021 and combines a fat-tired physique with high-torque electric power and a near-silent drive train. The Volcon Grunt EVO, an evolution of the original Grunt with a belt drive, an improved suspension, and seat, began shipping to customers in October 2023. The Brat is Volcon's first foray into the wildly popular eBike market for both on-road and off-road riding and is currently being delivered to dealers across North America. In 2024, Volcon entered the rapidly expanding LUV and UTV market and shipped its first production MN1 unit in October 2024. The new MN1 and HF1 products empower the driver to explore the outdoors in a new and unique way that gas-powered units cannot. They offer the same thrilling
Volcon Contacts
For Media: media@volcon.com
For Dealers: dealers@volcon.com
For Investors: investors@volcon.com
For Marketing: marketing@volcon.com
For more information on Volcon or to learn more about its complete eBike, motorcycle and side-by-side line-up, visit: www.volcon.com
Forward-Looking Statements
Some of the statements in this release referenced in this release are forward-looking statements, which involve risks and uncertainties.
Forward-looking statements in this press release include, without limitation, how many Super Sonic units Volcon will sell, how many Volcon branded golf carts will be sold, whether tariffs on imports from Vietnam will remail lower than other Asia countries, whether the Company will be cash flow positive on a monthly basis by the fourth quarter of 2025 and the funding received will carry us into 2026, and whether Volcon will develop and sell new two wheel models. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including "believes," "estimates," "anticipates," "expects," "plans," "projects," "intends," "potential," "may," "could," "might," will," "should," "approximately," or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors"; in the Company's Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC's website, www.sec.gov.
SOURCE: Volcon, Inc.
View the original press release on ACCESS Newswire
FAQ
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