Envirotech Vehicles Inc Stock Price, News & Analysis

Envirotech Vehicles (OTCQX:EVTV) reported its first-quarter results for 2022, achieving sales of $1,108,500, a significant increase from $470,793 in Q1 2021. The rise in sales was attributed to selling 12 vehicles this quarter compared to 5 in the previous year. However, the company faced a net loss of $2,527,397, up from $658,510 in the same quarter last year. Operating expenses surged to $2,947,648, partly due to non-cash charges. Cash and marketable securities amount to $9,099,105, a decline from December 2021. Despite these challenges, the company expressed confidence in future deliveries and growth.

Envirotech Vehicles, Inc. (OTCQX:EVTV) will hold a conference call on May 16, 2022, at 5:00 p.m. ET to discuss its first quarter 2022 results. Interested participants can access the live webcast here. For phone access, dial (877) 545-0320 for domestic calls or (973) 528-0002 for international calls, using access code 457081. A replay will be available until May 30, 2022. Envirotech focuses on zero-emission electric vehicles for commercial fleets, contributing to environmental sustainability.

Envirotech Vehicles Inc. (OTCQX:EVTV) announced its financial results for Q4 and the full year 2021. Sales surged to $674,693 in Q4 2021, up from $0 in Q4 2020, driven by the sale of six vehicles. Full-year sales reached $2,042,844, compared to $88,735 in 2020, with 20 vehicles sold. However, operating expenses increased significantly to $5,576,291 in Q4 and $8,485,372 for the year, leading to net losses of $4,358,792 and $7,652,099, respectively. The company reported cash reserves of $12,909,225 and plans to scale operations with a new manufacturing facility in Arkansas.

Envirotech Vehicles, Inc. (OTCQX:EVTV) will host a conference call on April 27, 2022, at 5:00 p.m. ET to discuss its fourth quarter and full year 2021 results. Live access is available via webcast or by phone at (877) 545-0320 (international: (973) 528-0002) with access code 378789. A replay will be available until May 11, 2022. Envirotech specializes in zero-emission vehicles aimed at reducing ownership costs for fleet operators, addressing fuel price instability, and complying with environmental regulations.

Envirotech Vehicles, Inc. (OTCQX:EVTV) announced a brand partnership with OZ Trails, enhancing its marketing strategy for zero-emission electric vans in Northwest Arkansas. The collaboration allows Envirotech to utilize OZ Trails' logo for vehicle wraps on its fleet, aimed at increasing visibility and attracting potential customers. CEO Phillip Oldridge expressed enthusiasm for the partnership, citing OZ Trails' reputation in promoting local exploration. This initiative aligns with Envirotech's mission to provide sustainable transportation solutions and expand its market presence.

Envirotech Vehicles, Inc. (OTCQX:EVTV) announced a Factory Authorized Representative Agreement with Central States Bus Sales, Inc. This partnership enables Central States to promote, sell, and service Envirotech's electric vehicles. Under the agreement, Central States will purchase a minimum of one van and one Class 4 or Class 5 truck annually for customer demonstrations. The collaboration aims to expand Envirotech's network and leverage Central States' established industry presence, benefiting both companies in the growing market for zero-emission vehicles.

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.

Envirotech Vehicles, Inc. (EVTV) announced the delivery of ten Class 4 high-roof logistics vans to Kingbee Rentals, facilitated by the New Jersey Zero Emissions Incentive Program (NJ ZIP). This program offers financial support for businesses transitioning to zero-emission vehicles, providing up to $100,000 per purchase. Envirotech's CEO highlighted the company's commitment to aiding businesses in moving away from gas-powered vehicles towards environmentally friendly options. The NJ ZIP program aims to fund 100-300 vouchers, promoting green initiatives in affected communities.