ADOMANI Momentum Continues to Build: New York City adds ADOMANI(R) All-Electric Trucks, Vans to its Clean Trucks Program

Rhea-AI Summary

ADOMANI (OTCQB: ADOM) has been approved as a dealership in New York City's Clean Trucks Program, which offers substantial incentives for fleet owners to switch to zero-emission trucks. The program provides $100,000 for all-electric Class 4 trucks and $110,000 for Class 5 trucks, with higher amounts for larger classes. ADOMANI emphasizes its readiness to fulfill orders quickly, leveraging its current inventory. This development supports ADOMANI's sales momentum alongside various state and national electrification programs.

Positive

• Approved dealership for New York City's Clean Trucks Program.
• Incentives of up to $110,000 per truck encourage fleet electrification.
• Inventory readiness allows for quick delivery to New York City customers.

Negative

• None.

CORONA, CA / ACCESSWIRE / October 20, 2020 / ADOMANI, Inc. (OTCQB:ADOM) a provider of new zero-emission, purpose-built electric vehicles and drivetrain solutions is pleased to announce that it has been named an approved dealership and its vehicles have been listed on the eligible vehicles list for the New York City Clean Trucks Program (NYCCTP). This program provides funding for new electric truck purchases by New York City customers to replace and scrap older polluting ICE vehicles. The rebate incentive funding program provides New York City fleet owners $100,000 per vehicle for an all-electric Class 4 truck sold to them by ADOMANI, and $110,000 for a Class 5 all-electric truck. The amounts increase for Class 6-Class 8 trucks.

"This is very exciting news for New York City fleet owners interested in going all-electric," said Jim Reynolds, President of ADOMANI. "Thanks to the leadership of New York City, fleets that want to lower their TCO (total costs of ownership) and benefit from ADOMANI's cutting-edge, technologically-advanced, clean trucks now have a way to get those vehicles on the road ASAP at a lower upfront cost."

"We stand ready to take orders immediately, and more importantly, to actually deliver those vehicles within a matter of weeks to our approved New York City customers given our current inventory levels," added Reynolds. "We're ready to move quickly to satisfy the needs of fleet owners ready to go electric!"

The news from New York builds on the sales momentum ADOMANI has announced recently. The NYCCTP, New York Truck Voucher Incentive Program, the California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP), and Carl Moyer programs, in addition to other state and national electrification grant incentive programs, such as in Oregon where ADOMANI recently sold an all-electric cargo van, will give ADOMANI even more tools to increase ZEV deployment across the country. ADOMANI also recently sold an all-electric cargo van to the City of Palmdale, California and also received an order for a Class 5 truck from the Pittsburg, California Unified School District.

National transportation electrification leader ADOMANI and its wholly owned, California-approved dealer ADOMANI ZEV Sales, Inc. are founding members of CALSTART's National Zero Emission Truck Coalition, a diverse group of stakeholders in the clean commercial vehicle supply chain advocating for federal investment in point-of-sale voucher incentives with the goal of deploying tens of thousands of zero-emission electric vehicles in the near term, along with infrastructure and R&D investments. The coalition's goal is the establishment of a federal point-of-sale incentive program to deploy at least $2 billion over five years, provide incentives for infrastructure advancements, and support R&D by an additional $250 million over the same five-year period."

"Having one of the first purpose-built Class 4 trucks with inventory available for delivery today allows us to be very aggressive with fleet owners and operators in New York City in our discussions to reduce their operating costs and improve the air quality for all New Yorkers," stated Doug Lollar, ADOMANI's Director of EV Sales.

About ADOMANI®

ADOMANI, Inc. is a provider of new zero-emission electric vehicles and is a provider of zero-emission electric drivetrain systems for integration in medium to heavy-duty commercial fleet vehicles, as well as re-power conversion kits for the replacement of drivetrain systems in combustion-powered vehicles. ADOMANI's zero-emission electric vehicles are focused on reducing the total cost of vehicle ownership and help fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price cost instability and local, state and federal environmental regulatory compliance. For more information visit www.ADOMANIelectric.com

Cautionary Statement Regarding Forward-Looking Statements

Statements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in reports filed by ADOMANI with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," "outlook," "designed" and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, ADOMANI undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.

Investor Relations Contacts:

ADOMANI, Inc.

Kevin Kanning, VP Investor Relations
Telephone: (650) 533-7629
Email: kevin.k@ADOMANIelectric.com

Michael K. Menerey, Chief Financial Officer
Telephone: (951) 407-9860 ext. 205
Email: mike.m@ADOMANIelectric.com

SOURCE: ADOMANI, Inc.

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https://www.accesswire.com/611135/ADOMANI-Momentum-Continues-to-Build-New-York-City-adds-ADOMANIR-All-Electric-Trucks-Vans-to-its-Clean-Trucks-Program

FAQ

What is the significance of ADOMANI being approved as a dealership for the NYC Clean Trucks Program?

ADOMANI's approval allows it to offer significant incentives for fleet owners, promoting the adoption of zero-emission vehicles in New York City.

How much funding does the NYC Clean Trucks Program provide for electric trucks purchased from ADOMANI?

The program offers $100,000 for Class 4 electric trucks and $110,000 for Class 5 electric trucks.

What types of vehicles does ADOMANI provide under the NYC Clean Trucks Program?

ADOMANI provides all-electric trucks, specifically Class 4 and Class 5 vehicles, among others.

What recent sales developments has ADOMANI experienced?

ADOMANI has recently sold an all-electric cargo van to the City of Palmdale, California, and received an order for a Class 5 truck from a school district.

What additional benefits does ADOMANI offer to its customers?

ADOMANI aims to reduce total costs of ownership for fleet operators and improve air quality through electrification.