Volcon Receives 500 Unit Golf Cart Order From Venom-EV
Volcon (NASDAQ: VLCN) has secured a significant supply agreement with Venom-EV for golf carts, receiving an initial order of 500 units. The partnership leverages Venom's established presence across 80 U.S. dealers and their premium golf cart lineup ranging from 2 to 6 seats.
Volcon CEO John Kim highlighted that recent funding enables the company to enter the golf cart market aggressively, with plans to capitalize on market opportunities created by U.S. government tariffs on Chinese-made golf carts. Venom-EV CEO Zack Kraus expressed enthusiasm about the partnership, noting it will support their business growth and dealer network supply.
Volcon (NASDAQ: VLCN) ha stipulato un importante accordo di fornitura con Venom-EV per carrelli da golf, ricevendo un ordine iniziale di 500 unità. La partnership sfrutta la presenza consolidata di Venom presso 80 rivenditori negli Stati Uniti e la loro gamma di carrelli da golf premium che va da 2 a 6 posti.
Il CEO di Volcon, John Kim, ha sottolineato che il recente finanziamento consente all'azienda di entrare nel mercato dei carrelli da golf in modo aggressivo, con piani per capitalizzare le opportunità di mercato create dai dazi del governo degli Stati Uniti sui carrelli da golf prodotti in Cina. Il CEO di Venom-EV, Zack Kraus, ha espresso entusiasmo per la partnership, notando che supporterà la crescita della loro attività e la fornitura alla rete di rivenditori.
Volcon (NASDAQ: VLCN) ha firmado un importante acuerdo de suministro con Venom-EV para carritos de golf, recibiendo un pedido inicial de 500 unidades. La asociación aprovecha la presencia establecida de Venom en 80 distribuidores en EE. UU. y su gama de carritos de golf premium que van de 2 a 6 asientos.
El CEO de Volcon, John Kim, destacó que la reciente financiación permite a la empresa ingresar al mercado de carritos de golf de manera agresiva, con planes para capitalizar las oportunidades de mercado creadas por los aranceles del gobierno de EE. UU. sobre los carritos de golf fabricados en China. El CEO de Venom-EV, Zack Kraus, expresó su entusiasmo por la asociación, señalando que apoyará el crecimiento de su negocio y el suministro a la red de distribuidores.
Volcon (NASDAQ: VLCN)은 Venom-EV와 골프 카트에 대한 중요한 공급 계약을 체결하고 500대의 초기 주문을 받았습니다. 이 파트너십은 Venom이 미국의 80개 딜러에 확립된 존재감을 활용하며, 2인승에서 6인승까지의 프리미엄 골프 카트 라인업을 제공합니다.
Volcon의 CEO인 John Kim은 최근 자금 조달이 회사가 골프 카트 시장에 공격적으로 진입할 수 있도록 하며, 미국 정부의 중국산 골프 카트에 대한 관세로 인해 발생하는 시장 기회를 활용할 계획이라고 강조했습니다. Venom-EV의 CEO인 Zack Kraus는 파트너십에 대한 열정을 표현하며, 이것이 그들의 비즈니스 성장과 딜러 네트워크 공급을 지원할 것이라고 언급했습니다.
Volcon (NASDAQ: VLCN) a conclu un important accord de fourniture avec Venom-EV pour des voitures de golf, recevant une commande initiale de 500 unités. Ce partenariat tire parti de la présence établie de Venom auprès de 80 concessionnaires aux États-Unis et de leur gamme de voitures de golf premium allant de 2 à 6 sièges.
Le PDG de Volcon, John Kim, a souligné que le financement récent permet à l'entreprise d'entrer agressivement sur le marché des voitures de golf, avec des plans pour tirer parti des opportunités de marché créées par les droits de douane du gouvernement américain sur les voitures de golf fabriquées en Chine. Le PDG de Venom-EV, Zack Kraus, a exprimé son enthousiasme pour le partenariat, notant qu'il soutiendra la croissance de leur activité et l'approvisionnement de leur réseau de concessionnaires.
Volcon (NASDAQ: VLCN) hat einen bedeutenden Liefervertrag mit Venom-EV für Golfwagen abgeschlossen und eine Erstbestellung von 500 Einheiten erhalten. Die Partnerschaft nutzt die etablierte Präsenz von Venom bei 80 Händlern in den USA und deren Premium-Golfwagen-Angebot, das von 2 bis 6 Sitzen reicht.
Der CEO von Volcon, John Kim, hob hervor, dass die jüngste Finanzierung es dem Unternehmen ermöglicht, aggressiv in den Golfwagenmarkt einzutreten, mit dem Ziel, von den Marktchancen zu profitieren, die durch die US-Regierungszölle auf in China hergestellte Golfwagen geschaffen wurden. Der CEO von Venom-EV, Zack Kraus, äußerte seine Begeisterung über die Partnerschaft und bemerkte, dass sie das Wachstum ihres Unternehmens und die Versorgung ihres Händlernetzwerks unterstützen wird.
- Secured initial 500-unit golf cart order from established brand Venom-EV
- Access to Venom's network of 80 U.S. dealers
- Market opportunity from U.S. tariffs on Chinese golf carts
- Recent funding secured for market expansion
- None.
Insights
Volcon's 500-unit golf cart supply agreement with Venom-EV represents a potentially significant revenue opportunity for this micro-cap EV manufacturer. With Volcon's market cap of just $3 million, this deal could materially impact their financial trajectory if successfully executed.
While financial terms weren't disclosed, this agreement provides three strategic advantages: (1) leveraging Venom's established network of 80 U.S. dealers for immediate distribution, (2) capitalizing on market disruption from recent U.S. tariffs on Chinese golf carts, and (3) diversifying beyond Volcon's traditional product offerings.
The timing appears opportunistic as Chinese manufacturers previously dominated the lower-priced segment of the U.S. golf cart market. With tariffs creating pricing gaps, Volcon can potentially capture market share without competing directly against industry leaders like Club Car, E-Z-GO, and Yamaha.
However, investors should consider several execution risks: Volcon's manufacturing scale may require capital investment to fulfill this order, and the company's financial position remains precarious despite the mentioned "recent funding." The agreement represents a relationship beginning rather than guaranteed long-term revenue.
The golf cart market extends beyond courses into planned communities, industrial applications, and resorts - representing a larger addressable market than many realize. If Volcon can establish itself as a reliable supplier, this initial 500-unit order could lead to recurring business across Venom's dealer network.
This 500-unit golf cart order presents both opportunity and manufacturing challenges for Volcon. As a small-cap EV manufacturer pivoting into a new product category, Volcon will need to rapidly develop production capabilities specific to golf carts, which differ significantly from their previous product lines.
The agreement's timing coincides with U.S. tariffs on Chinese-made golf carts, creating a domestic manufacturing opportunity. However, Volcon likely faces three key production hurdles: (1) establishing dedicated assembly capacity for a new product line, (2) securing component supply chains amid ongoing electronics shortages, and (3) meeting Venom's quality standards to protect their established brand reputation.
Golf cart production typically requires specialized components including custom chassis, controllers, motors, and battery systems. While the announcement mentions "recent funding" enabling this expansion, retooling production lines and training assembly teams requires both capital and time. The agreement doesn't specify delivery timeframes, which will be important for execution success.
From a manufacturing economics perspective, contract manufacturing for an established brand like Venom could provide more stable production volumes than Volcon's direct-to-consumer business. This B2B manufacturing approach leverages Venom's existing dealer network while allowing Volcon to focus on production efficiency rather than marketing and distribution.
If Volcon can establish efficient production processes for this initial order, they could position themselves as a domestic alternative for other golf cart brands looking to mitigate tariff impacts, potentially creating a significant new revenue stream beyond their original business model.
AUSTIN, Texas, Feb. 27, 2025 (GLOBE NEWSWIRE) -- On February 25, 2025, Volcon ePowersports (“Volcon”) (NASDAQ: VLCN), a provider of electric vehicles, signed a Supply Agreement with Venom-EV (“Venom”) to supply their golf carts. Venom has issued Volcon an initial order for 500 units. John Kim, Volcon’s CEO, notes “We are excited for the opportunity to be a supplier of Venom golf carts. Venom has a strong brand name in the golf cart space. They are trend setters.”
Venom has a range of premium models from 2 to 6 seats and are well appointed with options to purchase additional accessories and upgrades. Their network spans across 80 dealers in the United States.*
Further, Mr. Kim notes “The recent funding Volcon received gives us the ability to enter the golf cart market with vigor and to execute our market expansion plans. We hope that this initial order from Venom will be the first of many. We also hope to capture additional market share created by the US government tariffs on Chinese-made golf carts.”
Zack Kraus, Venom’s CEO, states: “Venom is eager to work with Volcon. Our new agreement with Volcon will help us grow our business and supply our existing dealers. We look forward to a strong relationship over the coming year and beyond.”
This Supply Agreement is included in Form 8-K filed by the Company on the SEC’s website, www.sec.gov.
Link to Company video
https://youtube.com/shorts/wbcnh82GDyw
Dealership data from Venom’s website www.venom-ev.com*
_____________________________________________________
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 performance of a standard LUV / 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 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 Venom vehicles will be ordered and how quickly they will be sold by Venom to generate new orders. 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.
FAQ
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