OSCEOLA, AR / ACCESSWIRE / April 24, 2023 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), a provider of new zero-emission, purpose-built electric vehicles ("EVTV" or "Envirotech"), announced today that so far in the month of April it has delivered two vehicles through the New Jersey Zero-Emission Incentive Program ("NJ ZIP") and one vehicle through the California Hybrid and Zero Emission Truck and Bus Voucher Incentive Project (HVIP).
Phillip Oldridge, Chief Executive Officer of Envirotech Vehicles, commented, "NJZIP and California's HVIP continue to be invaluable programs for EVTV and we are proud to continue our momentum with both of these. As we look ahead, we look forward to leveraging our contacts to try to place even more vehicles with customers through NJZIP and HVIP in 2023 than we did in 2022."
NJ ZIP is a $90 million voucher pilot launched in 2021 by New Jersey Economic Development Authority (NJEDA) for Medium to Heavy Duty Zero-Emission Vehicles. Phase 1 of the program in 2022 resulted in $43 million in voucher applications received, representing approximately 400 vehicles. The program is funded by Regional Greenhouse Gas Initiative (RGGI) proceeds allocated to NJEDA for the purposes of reducing harmful emissions, especially in communities disproportionately impacted by transportation emissions, and creating economic opportunity within the state. The program will provide vouchers with base values ranging between $20,000 to $175,000.
California's HVIP plays a crucial role in the deployment of zero-emission and near-zero-emission technologies. HVIP accelerates commercialization by providing point-of-sale vouchers to make advanced vehicles more affordable. Launched by the California Air Resources Board (CARB) in 2009, the project is part of California Climate Investments. HVIP is the earliest model in the U.S. to demonstrate the function, flexibility, and effectiveness of first-come first-served incentives that reduce the incremental cost of commercial vehicles. Vouchers have base values ranging between $7,500 and $120,000.
About Envirotech Vehicles
Envirotech Vehicles, Inc. is a provider of purpose-built, zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. EVTV serves commercial and last-mile fleets, school districts, public and private transportation service companies, and academic institutions to meet the increasing demand for heavy-duty electric vehicles. EVTV's vehicles address the challenges of traditional fuel-price cost instability and local, state and federal environmental regulatory compliance. For more information, visit www.evtvusa.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in reports filed by Envirotech Vehicles, Inc. with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expected," "believes," "strategy," "opportunity," "anticipated," "outlook," "designed," and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Envirotech Vehicles undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
Contact Information
For Envirotech Vehicles:
Investor Relations
ICR, Inc.
Telephone: (646) 200-8873
Email: envirotech@icrinc.com
Sue Emry, Executive Vice President
Telephone: (870) 970-3355
Email: sue.e@evtvusa.com
Arkansas Press Inquiries
Kristen Nicholson, APR
Telephone: (501) 350-3658
Email: knicholson@mhpteamsi.com
SOURCE: Envirotech Vehicles, Inc.
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