OSCEOLA, AR - Envirotech Vehicles, Inc. (NASDAQ:EVTV), a company specializing in zero-emission electric vehicles, has announced a significant sale to PlugD Commercial Electric Leasing and Rentals Inc., a Texas-based firm. The agreement, which involves the supply of 200 electric high roof vans and trucks, is valued at approximately $16.2 million and will be executed over the next 13 months.
Phillip Oldridge, CEO of Envirotech Vehicles, expressed enthusiasm about the partnership with PlugD, noting that it is the largest deal for the company so far. He emphasized the company's dedication to producing low-maintenance, zero-emissions vehicles over the past three decades.
Adam Greenberg, CEO of PlugD, highlighted the decision to choose Envirotech Vehicles after evaluating several manufacturers, citing the reliability, cost-effectiveness, safety features, and smooth ride of their vehicles. He stressed the benefits that customers and communities would receive from this technology, which he described as the pinnacle of efficiency, reliability, and sustainability.
This transaction underscores the growing market demand for electric vehicles and their crucial role in addressing business, social, and environmental challenges. Both PlugD and Envirotech Vehicles aim to lead the charge in sustainable transportation solutions, contributing to a cleaner and more sustainable future.
Envirotech Vehicles focuses on reducing the total cost of vehicle ownership for fleet operators and meeting the rising demand for heavy-duty electric vehicles. They serve a variety of sectors, including commercial and last-mile fleets, school districts, public and private transportation services, and academic institutions.
The press release also contains forward-looking statements regarding Envirotech Vehicles' future plans and performance. These statements are based on current management expectations and are subject to risks and uncertainties that could cause actual results to differ materially.
The information in this article is based on a press release statement from Envirotech Vehicles, Inc.
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