Envirotech Vehicles, Inc. (NASDAQ: EVTV) Announces Use By Central Art & Engineering In New Jersey
Rhea-AI Summary
Envirotech Vehicles (NASDAQ: EVTV) announced that Central Art & Engineering in New Jersey is now using an Envirotech electric logistics van for their delivery operations. The van, which replaced an old Mercedes-Benz Sprinter, was acquired through the New Jersey Zero-Emission Incentive Program (NJ ZIP), a $90 million voucher pilot by NJEDA.
The NJ ZIP program offers vouchers ranging from $20,000 to $175,000 to accelerate zero-emission vehicle adoption in New Jersey, particularly targeting communities affected by transportation emissions. The program aims to reduce emissions and stimulate market readiness while supporting the growth of New Jersey's zero-emission vehicle ecosystem.
Positive
- Successful deployment of electric van through NJ ZIP program
- Access to $90 million government incentive program for potential future sales
- Voucher support ranging from $20,000 to $175,000 per vehicle
Negative
- None.
News Market Reaction – EVTV
In the trading session that priced this news, EVTV declined 8.28%, reflecting a notable negative 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 / December 10, 2024 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), today announced an Envirotech logistics van is in use by New Jersey based Central Art & Engineering, Inc.
Central Art & Engineering uses the Envirotech logistics van for the pick-up and delivery of jobs and raw materials. A custom plastics fabricator, the company is deeply committed to the quality and reliability of their customer service. Central Art & Engineering also gains from cost savings and environmental benefits delivered by the Envirotech electric van.
Vice President of Central Arts & Engineering Eric Makkay commented: "I want electric vehicles for the business. We prefer to have clean electric. We love the hauling capacity."
The new Envirotech electric logistics van replaces an old fossil fuel powered Mercedes-Benz Sprinter van that Central Arts & Engineering had been using for years. The New Jersey Zero-Emission Incentive Program ("NJ ZIP") was instrumental in providing funding for the new Envirotech vehicle.
Phil Oldridge, CEO of Envirotech, stated: "We congratulate Central Arts & Engineering for their transition to electric delivery vehicles. And we again recognize the positive impact NJ ZIP is having in allowing New Jersey business owners to go electric. We welcome other New Jersey business owners to join us on this journey."
NJ ZIP is a
The goal of the program is to accelerate the adoption and use of zero-emission medium and heavy-duty vehicles within New Jersey; to reduce emissions within the state; and to continue to allow NJEDA to determine and stimulate market-readiness, assess effectiveness of funding levels and program design, and test methodologies for measuring economic impact of such adoption. The pilot is being used as a vehicle to support the growth of the NJ zero-emission vehicle ecosystem, with accelerated adoption of zero-emission vehicles being the first step to attracting more jobs and investment, as other zero-emission vehicle programs and regulations roll out across multiple state agencies.
Business owners interested in learning about Envirotech's vehicle offering under NJ ZIP, and what vouchers may be available to them from the New Jersey Economic Development Authority should contact Envirotech at https://evtvusa.com/contact-evtv/
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