Envirotech Vehicles, Inc. (NASDAQ:EVTV) Delivers 76 Vehicles Under the New Jersey Zero-Emission Incentive Program ("NJ ZIP")
Rhea-AI Summary
Envirotech Vehicles (NASDAQ:EVTV) has successfully delivered 76 vehicles under the New Jersey Zero-Emission Incentive Program (NJ ZIP). The program, a $90M voucher pilot launched by the New Jersey Economic Development Authority (NJEDA), provides vouchers ranging from $20,000 to $175,000 for Medium and Heavy Duty Zero-Emission Vehicles. The initiative aims to reduce emissions, particularly in communities heavily impacted by transportation emissions, while creating economic opportunities within New Jersey.
Positive
- Successful delivery of 76 vehicles in New Jersey market
- Access to significant government incentive program with vouchers up to $175,000 per vehicle
- Market expansion in New Jersey through state-backed program
Negative
- None.
News Market Reaction – EVTV
On the day this news was published, EVTV declined 1.35%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
OSCEOLA, APPENZELL AUSSERRHODEN / ACCESSWIRE / December 2, 2024 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), today announced it has delivered 76 vehicles under the New Jersey Zero-Emission Incentive Program ("NJ ZIP").
Phil Oldridge, CEO of Envirotech, hailed the company's success in providing electric delivery vehicles to business owners in New Jersey. "Envirotech is pleased to serve fleet owners in New Jersey as they transition from fossil fuels to electric vehicles. The NJ ZIP program has allowed Envirotech to rapidly expand our presence in New Jersey. We remain grateful to the New Jersey Economic Development Authority for their support."
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 in New Jersey, 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
FAQ
How many vehicles has Envirotech (EVTV) delivered under the NJ ZIP program?
What is the value range of vouchers available under NJ ZIP for Envirotech (EVTV) vehicles?
What is the total funding amount for the NJ ZIP program that Envirotech (EVTV) participates in?
