Envirotech Vehicles Inc Stock Price, News & Analysis

Envirotech Vehicles, Inc. (NASDAQ:EVTV) has announced a strategic partnership with Garsite to deliver its first all-electric aircraft refueler to Atlantic Aviation in Colorado. This innovative vehicle has a 900-gallon capacity and incorporates advanced technology for improved efficiency. CEO Phillip Oldridge highlighted the growing interest in sustainable aviation solutions, noting the shift towards electrification in the industry. The partnership aims to meet the demand for environmentally friendly ground support equipment, providing reliable alternatives to traditional fuel systems. This development positions EVTV favorably within the aviation sector's transition to greener operations.

Envirotech Vehicles (NASDAQ:EVTV) reported a notable financial turnaround for Q3 2022, achieving sales of $3.88 million, a significant increase from $0.71 million in Q3 2021, driven by 37 vehicle deliveries compared to 8 units the previous year.

The company posted a net income of $126,749 or $0.01 per share, reversing a net loss of $850,475 in Q3 2021. Total operating expenses rose to $1.74 million, influenced by higher headcount and marketing investments. The company has cash reserves of $4.66 million and working capital of $20.25 million, positioning it for future growth.

Envirotech Vehicles, Inc. (NASDAQ:EVTV) has delivered two zero-emission vans to Pick and Send Transportation in Newark, New Jersey, as part of the state's Zero Emission Incentive Program (NJ ZIP). This program offers up to $175,000 in vouchers for businesses transitioning to zero-emission vehicles. CEO Philip Oldridge emphasized the strong interest in green transportation in New Jersey and looks forward to the program's next phase in 2023. The NJ ZIP initiative aims to reduce harmful emissions and promote economic opportunities in affected communities.

Envirotech Vehicles, Inc. (NASDAQ:EVTV) has announced the delivery of two electric vans to D&S Management Consulting LLC in Newark, supported by New Jersey's Zero Emission Incentive Program (NJZIP). This program, funded by the NJ Economic Development Authority, offers up to $100,000 to incentivize businesses to transition to zero-emission vehicles. The CEO, Philip Oldridge, highlighted the importance of supporting local businesses in achieving sustainability goals, while D&S's owner noted the expected cost savings from using electric vans.

Envirotech Vehicles, Inc. (NASDAQ:EVTV) will hold a conference call on November 15, 2022, at 8:30 a.m. ET to discuss its third quarter and nine-month results ending September 30, 2022. Investors can access the live webcast here or call 877-545-0523. An international line is available at 973-528-0016 with the access code 815808. A replay of the call will be available until November 29, 2022, at 877-481-4010 (international: 919-882-2331, passcode: 47078). The company also warns that forward-looking statements may differ from actual results due to various risks.

Envirotech Vehicles, Inc. (NASDAQ:EVTV) announced the deployment of the first all-electric prisoner transport van in the U.S. in partnership with Cobb County in Atlanta. This 2022 model can travel approximately 200 miles on a full charge. CEO Phillip Oldridge expressed excitement about expanding their lineup of zero-emission vehicles, anticipating further adoption in the corrections sector. Cobb County Fleet Director Al Curtis highlighted the partnership's environmental benefits and cost savings. This move aligns with growing government initiatives to electrify fleet vehicles.

Envirotech Vehicles, Inc. (NASDAQ:EVTV) announced the delivery of two zero-emission vans to Coastal Marine Services in San Diego under California's Hybrid and Zero-Emission Truck and Bus Voucher Program (HVIP). CEO Philip Oldridge highlighted the increasing demand for electric vehicles in the shipping industry, stating that contractors recognize the need for zero-emission solutions. As an approved vendor for HVIP, Envirotech aims to support businesses in transitioning to environmentally friendly fleets.

Envirotech Vehicles, Inc. (NASDAQ:EVTV) has delivered three additional electric vans to customers in New Jersey, increasing total sales under the New Jersey Zero Emission Incentive Program (NJ ZIP) to 53. Since June 2022, 36 vehicles have been delivered via this initiative, which offers up to $100,000 in vouchers for battery-electric vehicles. The NJ ZIP program, funded by the New Jersey Economic Development Authority, aims to reduce emissions and help businesses transition to zero-emission fleets. The company's CEO expressed optimism about growing sales through this program.

Envirotech Vehicles (NASDAQ:EVTV) announced that Executive Vice President Sue Emry will present at the NWA Tech Summit on October 17. Emry's session will focus on the future of mobility, emphasizing the role of last-mile electric vehicles in reducing delivery costs and emissions. She will explore market opportunities under the Inflation Reduction Act and outline the growth potential for EVs. With over 30 years of industry experience, Emry's insights will contribute to discussions on enhancing the economy through zero-emission vehicles.