Volcon Awarded First Stag UTV Order With US Army

Rhea-AI Summary

Volcon Inc. (NASDAQ: VLCN) has secured its first order from the U.S. Army for two Stag UTV vehicles, to be delivered in mid-2023. This order is part of a project managed by the U.S. Army Engineer Research and Development Center, focusing on disaster response missions. The Stag is an all-electric, all-wheel drive vehicle powered by General Motors technology, designed for rapid deployment in emergencies. This contract marks Volcon's entry into the federal government market, aligning with the Department of Defense's commitment to fleet electrification.

Positive

• First order from the U.S. Army for two Stag UTV vehicles.
• Entry into the federal government market indicates growth potential.
• Stag UTV design aligns with Department of Defense's fleet electrification strategy.

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• None.

AUSTIN, Texas, Oct. 05, 2022 (GLOBE NEWSWIRE) -- Volcon Inc. (NASDAQ: VLCN) (“Volcon” or the “Company”), the first all-electric, off-road powersports company, announced today that it has been awarded its first order to deliver two Stag UTV vehicles to the U.S. Army under the management of the U.S. Army Engineer Research and Development Center’s (ERDC) Construction Engineering Research Laboratory (CERL).

The Stag, the Company’s first all-wheel drive, fully electric UTV, powered by General Motors electric propulsion system technology, is expected to be delivered to two U.S. Army locations in mid-2023.

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

Awarded through the Department of Logistics (DLA) Tailored Logistic Program (TLSP), to be fulfilled by Noble, the slightly modified commercial version of the Stag will include a fully enclosed cabin, and will be evaluated to support the U.S. Army Corp of Engineers (USACE) disaster and emergency response missions, in accordance with the National Response Framework (NRF). Missions include emergency power support, emergency infrastructure assessments, debris removal, and urban search and rescue, which require rapidly deployable and energy efficient systems to successfully initiate and conduct emergency response, disaster, and contingency operations. In addition, ERDC-CERL’s intent is to introduce the Stag to soldiers rotating through their training sites and look for other opportunities for military applications.

“This award is a significant first step into the federal government marketplace,” says the Company’s Vice President of Global Defense and Government Programs, Richard Tannery. “Given the increasing demand for government fleet electrification via the Department of Defense’s Operational Energy Strategy, and now via executive order, we are well positioned to develop and deliver high performance electrified platforms to meet a diverse array of government applications.”

As Volcon continues to enter new sales channels, their ability to rapidly prototype and leverage strategic partnerships and innovative collaborations has been met with increased interest by various defense and government entities to meet the aggressive timelines for fleet electrification.

About Volcon, Inc
Volcon Inc. is the first all-electric powersports company producing high-quality off-road vehicles. Based in Round Rock, Texas, Volcon joins many major electric vehicle companies located near Austin, Texas, an area that is poised to become the electric vehicle capital of the world.

Volcon was founded with the mission to enhance the outdoor experience while reducing the industry’s environmental footprint so that adventurers and workers alike can enjoy the outdoors and preserve it for generations to come. Volcon produces all-electric, off-road vehicles designed to elevate the adventure experience and help people get things done at work and on the home front.

Volcon's first product, the innovative Grunt, combines a fat tire physique with high-torque electric power and a near-silent drive train which started shipping in September of 2021. Future two wheel models may include the Runt, which is a youth-sized version of the groundbreaking Grunt, and an e-Bike, the Brat. The Stag and Project X are expected to be Volcon's venture into the rapidly expanding world of UTVs and are expected in future years as the company continues to expand.

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. 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/42646f0f-3905-4cec-9972-7537fea813c9

FAQ

What is the significance of Volcon's first order from the U.S. Army?

Volcon's first order is a critical step into the federal government market, indicating potential for future contracts and growth.

When is the delivery of the Stag UTV vehicles expected?

The Stag UTV vehicles are expected to be delivered to the U.S. Army in mid-2023.

What is the Stag UTV and what are its primary features?

The Stag is an all-wheel drive, fully electric utility task vehicle powered by General Motors technology, designed for rapid emergency response.

How does this order impact Volcon's business prospects?

This order enhances Volcon's market position and shows its capability to meet government demands for electrified vehicles.

What missions will the Stag UTV support for the U.S. Army?

The Stag will support emergency power, infrastructure assessments, debris removal, and urban search and rescue missions.