Volcon ePowersports Receives Purchase Order from Advanced EV for 1,000 Golf Carts and Resumes Share Repurchase Program
Rhea-AI Summary
Volcon ePowersports (NASDAQ: VLCN) has secured a significant purchase order from Advanced EV for 1,000 golf carts. This initial order will be used for market testing of a new golf cart model developed in collaboration with Super Sonic, following their distribution agreement from February 2025. The deal marks Volcon's second multi-million dollar agreement in five weeks.
The company sees this order as a stepping stone for potential broader collaboration with Advanced EV, leveraging Volcon's distribution capabilities and manufacturing expertise to serve Advanced EV's dealer network. Additionally, Volcon has announced the resumption of its share repurchase program.
Positive
- Secured large purchase order for 1,000 golf carts from Advanced EV
- Second multi-million dollar deal in five weeks, showing strong business momentum
- Strategic partnership potential with Advanced EV for future collaboration
- Resumed share repurchase program, potentially supporting stock price
Negative
- Initial order is only for market testing purposes, not guaranteed long-term commitment
News Market Reaction
On the day this news was published, VLCN gained 4.88%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AUSTIN, Texas, May 27, 2025 (GLOBE NEWSWIRE) -- Volcon ePowersports (NASDAQ: VLCN) (“Volcon” or the “Company”) the first all-electric, off-road powersports company, received its first purchase order from Advanced EV for 1,000 golf carts.
This initial order will be used by Volcon to conduct market testing of a new golf cart model developed in conjunction with Super Sonic under the distribution agreement with Volcon previously announced in February 2025. The order represents a first step in exploring a broader relationship between the two companies.
“We’re excited to supply Advanced EV with this test order and see it as a strong foundation for future collaboration,” said John Kim, CEO, Volcon. “As an OEM manufacturing partner, we look forward to the opportunity to help bring innovative and high-quality products to Advanced EV’s dealer network and customer base.”
Birju Patel, CEO of Advanced EV, added, “We’re pleased to be working with Volcon on this initial test order. Their distribution capabilities and ability to move quickly make them a valuable partner as we explore new product offerings to serve our growing customer base.”
“This is the second multi-million dollar deal in the last five weeks,” said Josh Rasmussen, CSO of Volcon. “We’re excited to see the growth trajectory for Volcon and believe this momentum signals a strong future ahead.”
The Company also adds that it has resumed its share repurchase program.
About Volcon
Based in the Austin, Texas area, Volcon was founded as the first all-electric power sports company producing high-quality and sustainable electric vehicles for the outdoor community. Volcon electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience.
Volcon's vehicle roadmap includes both motorcycles and UTVs. Its first product, the innovative Grunt, began shipping to customers in late 2021 and combines a fat-tired physique with high-torque electric power and a near-silent drive train. The Volcon Grunt EVO, an evolution of the original Grunt with a belt drive, an improved suspension, and seat, began shipping to customers in October 2023. The Brat is Volcon's first foray into the wildly popular eBike market for both on-road and off-road riding and is currently being delivered to dealers across North America. In 2024, Volcon entered the rapidly expanding LUV and UTV market and shipped its first production MN1 unit in October 2024. The new MN1 and HF1 products empower the driver to explore the outdoors in a new and unique way that gas-powered units cannot. They offer the same thrilling performance of a standard LUV / UTV without the noise (or pollution), allowing the driver to explore the outdoors with all their senses.
Volcon Contacts
For Media: media@volcon.com
For Dealers: dealers@volcon.com
For Investors: investors@volcon.com
For Marketing: marketing@volcon.com
For more information on Volcon or to learn more about its complete eBike, motorcycle and side-by-side line-up, visit: www.volcon.com
Forward-Looking Statements
Some of the statements in this release referenced in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, whether the full purchase order will be fulfilled and when the units will be delivered and when share repurchases will be completed. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company's Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC's website, www.sec.gov.
SOURCE: Volcon, Inc.
FAQ
What is the size of Volcon's (VLCN) recent purchase order from Advanced EV?
Why did Advanced EV order golf carts from Volcon (VLCN)?
How many major deals has Volcon (VLCN) secured recently?
What is Volcon's (VLCN) latest update on their share repurchase program?
Who are the key executives involved in the Volcon (VLCN) and Advanced EV deal?
