Volcon Hires Powersports Industry Veteran and Ex-Nikola Corp Director as Vice President of Engineering

Rhea-AI Summary

Volcon Inc. (NASDAQ: VLCN) has appointed Matthew Jennings as Vice President of Engineering, effective immediately. Jennings, a former Director of Electronic Hardware Engineering at Nikola, will lead engineering efforts as Volcon expands into new product categories, including four-wheeled vehicles set to launch next year. Additionally, the company has partnered with Synchrony Financial to offer consumer financing options at Volcon dealerships starting in 2022, enhancing accessibility for customers. This dual announcement aims to bolster Volcon's market position in the all-electric, off-road powersports industry.

Positive

• Appointment of Matthew Jennings as Vice President of Engineering enhances technical leadership.
• Partnership with Synchrony Financial improves customer financing options for Volcon vehicles.

Negative

• Concerns about continuity and experience gaps due to management change.

Synchrony Financing Chosen as Volcon's Consumer Finance Option for 2022 and Beyond

AUSTIN, TX / ACCESSWIRE / December 20, 2021 / Volcon Inc. (NASDAQ:VLCN), the first all-electric, off-road powersports company, today announced the appointment of Matthew Jennings as Vice President of Engineering, effective immediately. Jennings will be responsible for providing technical leadership as Volcon continues to develop its two-wheeled offerings and expands into four-wheeled offerings. Jennings will oversee all engineering aspects of current and future Volcon products including design, building, and evaluation and implementation of new technologies, as well as managing portions of research and development initiatives.

Jennings brings extensive engineering experience with him to Volcon, having led the development of battery systems, power electronics, and other components of electrified systems for consumer, defense, and automotive applications. Most recently he was the Director of Electronic Hardware Engineering at Nikola Corporation (NASDAQ: NKLA), where he led a team developing controllers and HMI systems for Nikola vehicles. He holds a B.S. in Electrical Engineering from Clemson University.

"Our goal is to create category-defining products that exceed the expectations of our clients, and the addition of Matthew to our engineering team will help us accomplish that goal," said Christian Okonsky, Volcon's Chief Technical Officer. "As we enter new product categories, Matthew's expertise will bolster our already strong engineering team as we get closer to the launch of our first four-wheeled products next year."

In additional news, as Volcon continues to amass dealers, the company today announced the signing of a key deal with consumer financial services provider Synchrony Financial, to allow for consumer financing of Volcon vehicles. Customers will be able to use Synchrony financing beginning in 2022 at Volcon dealerships. This option will make it easier than ever to own a Volcon.

"With more and more dealerships becoming part of the Volcon family, the addition of Synchrony financing will help create a convenient environment for our customers to take home a Volcon," said Melissa Coffey, Director of International Sales and Development. "Ease-of-use is core to our consumer-experience philosophy, so we've partnered with Synchrony to make a streamlined experience for our clients, so they can spend less time focused on financing and more time enjoying their Volcon in the great outdoors."

For more information on the Volcon Grunt: https://www.volcon.com/grunt-explore

About Volcon

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 manufacturers 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 that are 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 models include the Runt, which is a youth-sized version of the groundbreaking Grunt. The Stag and Beast will be Volcon's venture into the rapidly expanding world of UTVs and coming in future years as the company continues to expand.

For more information, please visit: www.volcon.com

FOR MEDIA

For more information, contact media@volcon.com

For more information on Volcon or to learn more about its complete motorcycle and side-by-side line including the Grunt, Runt, Stag and Beast 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 Registration Statement on Form S-1 filed with the SEC, which is available on the SEC's website, www.sec.gov.

SOURCE: Volcon ePowersports, Inc.

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FAQ

What is the significance of Matthew Jennings' appointment at Volcon?

Matthew Jennings' appointment enhances Volcon's engineering capabilities as the company prepares to expand its product offerings.

When will Synchrony Financial's consumer financing be available for Volcon vehicles?

Consumer financing through Synchrony Financial will be available at Volcon dealerships starting in 2022.

What impact could the partnership with Synchrony Financial have on Volcon's sales?

The partnership with Synchrony Financial is expected to create a more accessible purchasing environment, potentially boosting Volcon's sales.

What products is Volcon planning to launch in the near future?

Volcon is planning to launch its first four-wheeled products next year, alongside its existing Grunt and upcoming models like the Runt, Stag, and Beast.