Envirotech Vehicles Granted Manufacturing License; Only Licensed Auto Manufacturer in State of Arkansas
Envirotech Vehicles, Inc. (OTCQX:EVTV) has received a manufacturing license from the Arkansas Motor Vehicle Commission, making it the only licensed automotive manufacturer in Arkansas.
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Envirotech Vehicles, Inc. (OTCQX:EVTV) has received a manufacturing license from the Arkansas Motor Vehicle Commission, making it the only licensed automotive manufacturer in Arkansas. The company recently acquired a 580,000 square foot facility in Osceola, which will handle the outfitting and shipment of imported vehicles while transitioning to full manufacturing operations. This development is expected to create over 800 jobs in Mississippi County. CEO Phillip Oldridge expressed excitement about this milestone, emphasizing the establishment of local manufacturing for electric trucks and vans.
Positive
- Received manufacturing license from Arkansas Motor Vehicle Commission, becoming the only licensed auto manufacturer in the state.
- Acquired a 580,000 square foot manufacturing facility in Osceola, Arkansas.
- Expected to create over 800 jobs in Mississippi County.
Negative
- None.
Details
News Market Reaction – EVTV
The recorded move for EVTV in the trading session of this news was +5.78%.
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OSCEOLA, AR / ACCESSWIRE / March 16, 2022 / Envirotech Vehicles, Inc. (OTCQX:EVTV), a provider of new zero-emission, purpose-built electric vehicles (the "Company"), today announced that it has been granted a manufacturing license from the Arkansas Motor Vehicle Commission, making the Company the only licensed automotive manufacturer in the state.
In February, Envirotech Vehicles announced that it had purchased a 580,000 square foot manufacturing facility, located at 1425 Ohlendorf Road in Osceola, Arkansas. The Company intends to initially utilize the plant to handle the final outfitting and shipment of its imported vehicles while simultaneously converting the plant into a full manufacturing operation. Hiring for the facility will commence immediately and is expected to create more than 800 jobs as well as additional indirect jobs in Mississippi County.
Phillip Oldridge, Chief Executive Officer of Envirotech Vehicles, commented, "We are excited to have been granted this manufacturing license from the Arkansas Motor Vehicle Commission qualifying us as the only licensed auto manufacturer in the state of Arkansas. Receiving this license brings us one step closer to our goal of establishing a manufacturing facility for our best-in-class fleet of electric trucks and vans right here in the United States, and we are proud to be blazing the trail as the first licensed auto manufacturer in the state. Moreover, as we look to staff the facility to efficiently ramp our manufacturing operations, we are pleased to be providing an influx of jobs to Mississippi County and look forward to benefiting from the experience and expertise of the local workforce."
"I was pleased to learn of Envirotech's choice of Osceola as the home of their first manufacturing facility in the United States and excited to have my department issue the first license for the only auto manufacturer in Arkansas," Daryl Bassett, Secretary of the Arkansas Department of Labor and Licensing, commented.
About Envirotech Vehicles
Envirotech Vehicles, Inc. is a provider of purpose-built zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. We serve commercial and last-mile fleets, school districts, public and private transportation service companies and colleges and universities to meet the increasing demand for heavy duty electric vehicles. Our vehicles address the challenges of traditional fuel price cost instability and local, state and federal environmental regulatory compliance. For more information visit www.evtvusa.com.
Contact Information
Investor Relations Contacts:
IMS Investor Relations
John Nesbett/Jennifer Belodeau
Telephone: (203) 972-9200
Email: evtv@imsinvestorrelations.com
Envirotech Vehicles
Christian Rodich, Chief Financial Officer
Telephone: (951) 407-9860 ext. 1207
Email: christian.r@evtvusa.com
SOURCE: Envirotech Vehicles, Inc
View source version on accesswire.com:
https://www.accesswire.com/693258/Envirotech-Vehicles-Granted-Manufacturing-License-Only-Licensed-Auto-Manufacturer-in-State-of-Arkansas
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