Volcon Announces 2023 Vehicle Roadmap as Stag Pre-Production Orders Reach $116M+

Rhea-AI Summary

Volcon Inc. (NASDAQ: VLCN) announced significant milestones, including over $116 million in pre-production orders for its all-electric UTV, the Stag, with 90% from 151 dealers across the USA and Latin America. The Stag, powered by GM's Ultium system, will see deliveries start in June 2023. The company is also launching the Grunt EVO, a quieter trail bike, and the Brat eBike, expected in select dealers by February 2023. New collaborations include BF Goodrich as the Stag's tire supplier and partnerships with Texas A&M for research. Volcon aims for a successful 2023 by expanding its product line and enhancing manufacturing capabilities.

Positive

• Over $116 million in pre-production orders for the Stag.
• Strong demand from a network of 151 dealers and distributors.
• Stag to be the first fully electric UTV, enhancing market position.
• New product launches like Grunt EVO and Brat eBike planned for 2023.
• Partnership with GLV Ventures to improve manufacturing efficiency.
• Collaboration with BF Goodrich as exclusive tire supplier for the Stag.

Negative

• Pre-production orders are non-binding, leading to uncertainty in revenue recognition.
• Deliveries of the Stag are dependent on successful finalization of non-binding orders.

AUSTIN, Texas, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Volcon Inc. (NASDAQ: VLCN) (“Volcon” or the “Company”), the first all-electric, off-road powersports company, announced a series of milestones today highlighting the Company's progress over the last year, along with key insights into 2023 product developments.

The Stag, the Company’s flagship all-wheel drive, fully electric UTV, recently eclipsed $116,000,000 in pre-production orders with over 90% of these orders coming from its network of 151 dealers across the US, and its six distributors in South and Central America and the Caribbean region. The Stag will be the first fully electric UTV in its class and the first and currently only UTV to be powered by General Motors’ Ultium electric propulsion system technologies, putting the company into a position of high visibility and reliability within the off-road powersports, outdoor and agricultural communities. Deliveries of the highly anticipated Stag to dealers across the US are expected to begin as early as June 2023. Pre-production orders for dealers and distributors did not require any up front payment and are non-binding, and only if ultimately finalized would such reservations result in realized revenue for the company following delivery. Consumer pre-production orders require a $100 reservation fee but are also non-binding.

Watch the Stag in action here: https://www.volcon.com/stag

Additional new product developments coming in 2023 include the new Grunt EVO. The Grunt EVO will offer a lighter and quieter evolution of the Company’s first generation, fat-tired trail bike. The EVO will come standard with a newly developed Gates belt drive that creates a near silent experience for the rider, making it ideal for hunting trips or for use around livestock, as it allows the rider to move quietly through the woods without disturbing the wildlife. The new Gates belt drive requires less maintenance than traditional chain drives, making them a reliable choice for off-road use. Additional improvements to the Grunt EVO include a newly designed progressive rear suspension with an upgraded coilover shock, new ergonomic seat profile with changes to seat material to improve rider comfort, and overall weight reduction of 15%, making the Grunt EVO an even more formidable off-road motorcycle. The Company aims to widen their customer base with this new edition, targeting outdoor enthusiasts in addition to traditional powersports fans, wildlife conservation groups, and other audiences needing silent, rugged vehicles with exceptional all terrain capabilities. Volcon is scheduled to launch the Grunt EVO during Q2 of this year.

Explore the Grunt here: https://www.volcon.com/grunt-explore

In September 2022, Volcon opened up reservations for the Brat, a multi-purpose eBike in a limited number of US dealers. The Brat is expected to be in select dealers across the US this coming February, as well as available on the Company’s website for direct purchase. The Brat provides riders with both on road and off-road capabilities, including an off-road mode that maximizes the Brat’s torque and speed. The Brat comes complete with hydraulic disc brakes, full front and rear suspension, as well as a convenient storage tank that includes a USB charging port to power rider’s mobile accessories. The Company believes offering an eBike could bolster potential profits by providing a product suited for more urban, or on-road environments, and seeks to compel audiences looking for more fuel-efficient options for day to day commutes.

Learn more about the Brat here: https://www.volcon.com/brat

For younger riders between the ages of 4 to 11, the Company is launching and currently delivering the Volcon Youth line of dirt bikes. The line includes two sizes; the Moto Kids One, which is designed for the youngest riders from 4 up to age 6, and the Moto Kids Two, which offers riders ages 7 to 11 a friendly motocross inspired electric motorcycle for new riders. The Company is working with European manufacturer Torrot to bring these exciting motorcycles to market. “Having a product line that provides options for the entire family aligns with our goal to empower adventure at all ages, regardless of their passion. When kids start learning to ride on a Volcon early, we’re confident they’ll continue to ride Volcon products as adults,” said Katie Hale, CMO of Volcon. The Moto Kids One and Kids Two are currently in stock and in the process of being shipped to dealers across the US.

The Company recently made strides to improve margins and cash flow by securing a manufacturing agreement with GLV Ventures (GLV) in August of 2022. GLV and its partner companies have been providing automotive solutions, superior product development and advanced manufacturing in a timely, cost-effective manner for over 25 years. “Our partnership with GLV brings years of automotive manufacturing experience to our ranks. The team at GLV has been associated with major brands like GM, Honda Marine, Continental, Powertrain Control Solutions, and others, which speaks volumes to their attention to detail and a quality finished product,” said Jordan Davis, Volcon’s Chief Executive Officer. “We believe our agreement with GLV will continue to assist us in an accelerated product launch strategy, all the while ensuring the quality and safety of our vehicles.”

In addition to product launches and manufacturing improvements, the network of relationships and brand collaboration opportunities continues to grow and evolve. The Company secured a co-development agreement with BF Goodrich to close out 2022, making BF Goodrich their sole tire supplier for the Stag. In addition, the Company has found a natural alignment with research and development, innovation, and education opportunities; currently coordinating collaborations with university research groups like Texas A&M’s George H.W. Bush Combat Development Complex, the Texas A&M Transportation Institute, and other collaborations in the works. "We’re looking forward to what we believe will be a strong year for Volcon. Our planned product launches, collaborations, and alignments with well known brands in the off-road space reflect what we believe to be our legitimacy in the space. We certainly plan on 2023 being the year that catalyzes Volcon into a highly successful business,” concluded Davis.

About Volcon, Inc

Based in the Austin, Texas area, Volcon was founded as the first all-electric powersports 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 2023 vehicle roadmap includes both motorcycles and UTVs hitting the market in North America. Its first product, the innovative Grunt, has been shipping to customers since late 2021 and combines a fat-tired physique with high-torque electric power and a near-silent drive train. The Runt, which is a fun-sized version of the groundbreaking Grunt, is better suited for small statured riders, more compact properties and trails, or as a pit bike at race events, while still delivering robust off-road capabilities. 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. Volcon is also launching and currently delivering the Volcon youth line of dirt bikes for younger riders between the ages of 4 to 11. Volcon recently launched the Stag and entered the rapidly expanding UTV market with a major announcement that all Volcon four wheeled vehicles will be powered by General Motors’ proven and tested electric propulsion systems, starting with the Stag. The Stag empowers the driver to explore the outdoors in a new and unique way that gas-powered UTVs cannot. The Stag offers the same thrilling performance of a standard UTV without the noise (or pollution), allowing the driver to explore the outdoors with all their senses. 

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 motorcycle and side-by-side line-up, visit: www.volcon.com

Forward-Looking Statements

Some of the statements in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the timing of the Company’s rollout of new products during 2023. 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.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/a1c68f3c-fdde-47d8-8e83-bf3bf9f95a6d

https://www.globenewswire.com/NewsRoom/AttachmentNg/6971cea5-16f7-444b-9864-4504ee76844a

https://www.globenewswire.com/NewsRoom/AttachmentNg/2dc0c911-ff1e-4796-8509-b5adb747ba83

https://www.globenewswire.com/NewsRoom/AttachmentNg/66712ff8-7309-4c1b-b28a-92bbd27d847d

FAQ

What are the pre-production order figures for Volcon's Stag UTV?

Volcon's Stag has over $116 million in pre-production orders.

When is the expected delivery date for the Stag UTV?

Deliveries of the Stag UTV are expected to begin in June 2023.

What is the significance of the Stag being powered by GM's Ultium technology?

The Stag is the first fully electric UTV powered by GM's Ultium system, enhancing its visibility and reliability.

What new products is Volcon planning to launch in 2023?

Volcon plans to launch the Grunt EVO trail bike and the Brat eBike in 2023.

How is Volcon improving its manufacturing capabilities?

Volcon has secured a partnership with GLV Ventures to enhance manufacturing efficiency.