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 Inc. (NASDAQ: VLCN) announced that Ted Turner Reserves has pre-ordered eight units of its Stag UTV for testing on over 1 million acres of land. The non-binding pre-orders will assess the potential for a larger electrification initiative across Ted Turner's fleet. CEO Jordan Davis highlighted the partnership's aim to enhance outdoor experiences while reducing environmental impacts. The Stag features a zero-emissions drivetrain, providing a sustainable transport option for guests and staff. This collaboration emphasizes Volcon's commitment to innovation in eco-friendly outdoor solutions.
Volcon Inc. (NASDAQ: VLCN) has successfully closed a $27.2 million offering of convertible senior notes due 2024, along with warrants to purchase approximately 9.1 million shares of common stock. The notes have an 8.0% original issue discount and will mature on February 24, 2024, unless converted earlier. The initial conversion price is set at $2.25 per share. The accompanying warrants are exercisable immediately with an exercise price of $2.85 and will expire in five years.
Volcon Inc. (NASDAQ: VLCN) announced on August 22, 2022, a $27.2 million convertible senior notes offering due in 2024. These senior unsecured notes have an 8.0% original issue discount and will only accrue interest upon an event of default. The issuance includes warrants for approximately 9.1 million shares at an exercise price of $2.85. The notes will mature on February 24, 2024, and the transaction is expected to close on August 24, 2022. Aegis Capital Corp. is the exclusive placement agent for this offering.
Volcon Inc. (NASDAQ: VLCN) announced over $100 million in pre-production orders for its all-electric UTV, the Stag, which utilizes General Motors' electric propulsion technology. With more than 90% of these orders from its dealer network, Volcon has exceeded its 2023 sales targets following a successful dealer launch. The Stag's MSRP is set at $39,999. The company is now focusing on ramping up its supply and production capabilities in collaboration with General Motors to meet the high demand while continuing to accept consumer reservations.
Volcon Inc. (NASDAQ: VLCN) reported its Q2 2022 financial results, highlighting significant progress in dealer partnerships and product launches. The company signed over 100 dealers and fulfilled initial orders for its Grunt model. Notable milestones include the July 1 launch of the 2023 Volcon Stag, which has attracted over $70 million in pre-orders. Revenue increased to $2.4 million, while net loss rose to $9.9 million. The partnership with General Motors aims to enhance future vehicle performance.
Volcon Inc. (NASDAQ: VLCN) has announced its collaboration with General Motors to equip all its off-road utility terrain vehicles (UTVs) with GM's electric propulsion systems. This partnership will allow the upcoming Volcon Stag and future models to leverage GM's proven technology for enhanced performance and sustainability. The Stag, set to launch in 2023, promises to deliver innovative features and a thrilling experience. The alignment with GM aims to reduce R&D costs and accelerate market entry, supporting Volcon's mission of electrifying the off-road powersports industry.
Volcon Inc. (NASDAQ: VLCN) announced the opening of pre-production orders for its first all-wheel drive, fully electric UTV, the Stag, which started on June 27, 2022. The company has received thousands of non-binding pre-orders, potentially generating over $70 million in revenue. The MSRP for the Stag is set at $39,999, and dealers can place orders until inventory is sold out. CEO Jordan Davis noted strong dealer acceptance and an accelerated pre-order pace. Volcon is exploring solutions to supply chain constraints, although no guarantees are provided.
Volcon Inc. has unveiled the Volcon Stag, an all-electric UTV offering a class-leading 125 hp and 265 lb-ft of torque. The vehicle features a unique electric power plant capable of exceeding 140 hp with paddle shifters and overboost mode. It includes selectable driving modes, a 7.2 kW charger for quick recharge, and a four-person capacity. The anticipated MSRP starts at $39,999 with availability expected in Summer 2023. Reservations can be made online, enhancing the company's push into the electric powersports market.
Volcon Inc. (NASDAQ: VLCN) is launching its all-electric UTV, Stag, on July 1, 2022, at 1 PM EST. This vehicle promises class-leading performance, utilizing advanced EV technology while being environmentally friendly. The company reports strong dealer interest in pre-launch sales and is preparing for limited availability based on production estimates for 2023. Volcon aims to attract off-road enthusiasts, professionals, and curious customers. Reservations will be available on the company's website.
Volcon Inc. has announced an exclusive distribution agreement with Torrot Electric Europa SA to distribute electric off-road motorcycle products across Latin America, South America, and the Caribbean. This partnership aims to enhance revenue and profitability through existing dealer networks. The collaboration will leverage Volcon's current infrastructure, allowing for rapid market entry with minimal overhead costs. The Torrot line caters to young riders aged 3 to 11, supporting Volcon's mission for sustainable outdoor experiences.
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