Envirotech Vehicles, Inc. (NASDAQ:EVTV) Announces Delivery of Electric Vans to FedEx
Rhea-AI Summary
Envirotech Vehicles (NASDAQ:EVTV) has delivered two demonstration electric delivery vans to FedEx Delivery Service Partners (DSPs), including Dreaming Green Corp. in Connecticut. The mid-roof electric vans will be used for package delivery services. Dreaming Green Corp. expects monthly savings of $1,800 in fuel and maintenance costs per vehicle. With Connecticut gas prices over $3.00/gallon and diesel near $3.70, the combination of cost savings and zero emissions makes Envirotech vehicles attractive for fleet operators. PLUGD, an EV financing company, facilitated the introduction and provides financing options for companies scaling their electric fleets.
Positive
- Secured demonstration deliveries to FedEx DSPs, expanding market presence
- Customer projects $1,800 monthly savings per vehicle in fuel and maintenance costs
- Potential for fleet expansion as other FedEx DSPs show interest
Negative
- Current delivery to only two demonstration vehicles
- Success of the program still pending evaluation
News Market Reaction – EVTV
In the trading session that priced this news, EVTV gained 6.94%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
OSCEOLA, AR / ACCESSWIRE / November 27, 2024 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), today announced it has delivered two demonstration delivery vans to two FedEx Delivery Service Partners ("DSPs"), including Dreaming Green Corp. in Connecticut.
These mid-roof electric delivery vans will be put into service to deliver packages to homes and businesses in Connecticut.
Dreaming Green Corp.'s owner Nelson Pinhancos emphasized the immediate cost savings Envirotech electric delivery vans are expected to deliver to his business. "We are excited to begin testing the Envirotech electric delivery van. We estimate a monthly savings of
With the average price per gallon of gasoline in Connecticut higher than
Phil Oldridge, CEO of Envirotech, emphasized how Envirotech's electric vehicles were created to address the needs of business owners. "Envirotech is proud to serve business owners from California to Connecticut as we help them reduce their operating costs and increase their on-time delivery performance. First mile, last mile delivery companies know how impactful monthly saving of one to two thousand dollars per vehicle is for their bottom line. And successful deliveries with no emissions are a mark of pride for every owner of an Envirotech vehicle."
Dreaming Green Corp.'s owner Nelson Pinhancos added: "We expect this test program to be a success. And we look forward to then scaling up our Envirotech electric fleet. Other FedEx DSPs have already shown interest in joining us."
PLUGD, the electric vehicle financing company, introduced Dreaming Green Corp. and other FedEx DSPs to Envirotech. As such companies scale their electric fleets, PLUGD provides financing, ownership, and leasing options to them.
About Envirotech Vehicles
Envirotech Vehicles, Inc. (NASDAQ:EVTV) is a technology company dedicated to revolutionizing the electric vehicle landscape by designing and manufacturing electric commercial vehicles that offer sustainable, efficient, and cost-effective transportation solutions. Committed to driving the future of mobility, Envirotech is pushing the boundaries of innovation and sustainability. For more information, visit www.evtvusa.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 Envirotech 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 "will," "estimated," "planned," "expected," "believes," "strategy," "opportunity," "anticipated," "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, Envirotech undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances, or unanticipated events.
CONTACT:
Envirotech Vehicles, Inc.
Merrick Alpert, Chief Communications Officer
Telephone: (870) 970-3355
Email: merrick@evtvusa.com
SOURCE: Envirotech Vehicles, Inc.
View the original press release on accesswire.com