Volcon ePowersports Releases New Video of First Stag Units at Headquarters

Rhea-AI Summary

Volcon Inc. receives the first two Stag production units at its headquarters in Texas for evaluation by the United States Army Corp of Engineers and for demonstration purposes. CEO John Kim expresses excitement about the progress and emphasizes the company's focus on building and delivering vehicles.

Market Research Analyst

Volcon Inc.'s announcement regarding the delivery of the first two Stag production units is a significant operational milestone for the company. The collaboration with the United States Army Corp of Engineers under the Cooperative Research and Development Agreement (CRADA) could potentially open up new revenue streams and market opportunities. The defense sector's interest in electric off-road vehicles is aligned with broader trends towards electrification and sustainable transportation solutions. If the Stag receives positive evaluations for military and humanitarian aid purposes, this could signal a strong product-market fit and lead to increased demand from government and institutional buyers.

Furthermore, the use of the second unit for dealer education and demonstrations is a strategic move to build brand credibility and support the sales channel. Engaging dealers effectively is crucial for Volcon's go-to-market strategy, especially in the niche market of all-electric off-road powersports. The hands-on experience could enhance dealer knowledge and confidence in promoting the Stag, potentially accelerating market penetration.

Financial Analyst

The CRADA with the U.S. Army Corp of Engineers is a pivotal development for Volcon, as it may lead to significant contracts and bolster the company's financial position. Investors will be closely monitoring how this relationship evolves, as military contracts can provide stable, long-term revenue. However, it is essential to consider the capital-intensive nature of the automotive industry, especially for a company like Volcon that focuses on all-electric vehicles. The ramp-up in production and subsequent deliveries will require careful financial management to ensure that the company can scale without overextending its resources.

Moreover, the market will look for updates on the production ramp-up and any subsequent announcements of purchase orders or partnerships, which could serve as catalysts for the company's stock price. The stock market reacts to both the anticipation of future growth and the realization of current performance. As such, the successful deployment and potential orders resulting from the CRADA could have a positive impact on Volcon's market valuation.

Sustainability Analyst

Volcon's focus on all-electric, off-road powersports positions the company at the intersection of sustainability and innovation. The electric vehicle (EV) market is growing rapidly and Volcon's engagement with the U.S. Army Corp of Engineers highlights the expanding interest in EVs beyond consumer markets to include government and defense sectors. The successful adoption of the Stag by the military could serve as a powerful endorsement of EV technology in demanding operational environments, potentially influencing broader market perceptions.

It is also noteworthy that the use of electric vehicles for humanitarian aid purposes could offer environmental and logistical advantages, such as reduced dependency on fuel supply chains and lower operational noise levels, which are critical in conflict or disaster zones. The long-term implications for sustainability in such applications could be profound and Volcon's involvement in this space may enhance its reputation as a pioneer in eco-friendly transportation solutions.

AUSTIN, Texas, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Volcon Inc. (NASDAQ: VLCN) (“Volcon” or the “Company”), the first all-electric, off-road powersports company posted a video to its website receiving the first two Stag production units at its headquarters in Round Rock, Texas yesterday.

Video link below:

Watch Stag Videos on Volcon.com

After one final quality check, the first Stag will go to the United States Army Corp of Engineers next week to be evaluated for military and humanitarian aid purposes as part of the Cooperative Research and Development Agreement (CRADA) the Company announced last year. The second unit will be used for demonstration and education purposes for dealers.

“We are thrilled to see the Stag production units here in Texas, it's not only a testament to work this team has put in but shows how quickly things can progress when you focus on a simple formula; to build vehicles and deliver them,” said CEO, John Kim.

As production continues to ramp, the Company plans to communicate additional updates as they occur. For more information on the Stag or Volcon’s developmental process, please visit Volcon.com.

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. Volcon will also offer the Runt LT, a fun-sized version of the groundbreaking Grunt, better suited for small-statured riders, more compact properties and trails, or as a pit bike at race events, while still delivering robust off-road capabilities. 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. Volcon is also currently delivering the Volcon Youth Line of dirt bikes for younger riders between the ages of 4 to 11. Volcon debuted the Stag in July 2022 and entered the rapidly expanding UTV market and previously announced that it expects to begin shipping the Stag to customers in the fourth quarter of 2023, which has been delayed as noted above. The Stag empowers the driver to explore the outdoors in a new and unique way that gas-powered UTVs cannot. The Stag offers the same thrilling performance of a standard 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 motorcycle and side-by-side line-up, visit: www.volcon.com

Forward-Looking Statements
Some of the statements in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, when the Company can ramp up production of the Stag, and whether production of the Runt LT will occur. 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 ePowersports, Inc.

What is the latest update from Volcon Inc. regarding the Stag production units?

Volcon Inc. received the first two Stag production units at its headquarters in Texas for evaluation by the United States Army Corp of Engineers and for demonstration purposes.

Who will evaluate the Stag production units for military and humanitarian aid purposes?

The United States Army Corp of Engineers will evaluate the Stag production units for military and humanitarian aid purposes.

What is the Cooperative Research and Development Agreement (CRADA) mentioned in the press release?

The Cooperative Research and Development Agreement (CRADA) is a partnership agreement announced by Volcon Inc. last year for military and humanitarian aid purposes.

What are the plans for the second Stag production unit?

The second Stag production unit will be used for demonstration and education purposes for dealers.

Who expressed excitement about the progress of the Stag production units?

CEO John Kim expressed excitement about the progress of the Stag production units.