CORONA, CA / ACCESSWIRE / June 12, 2018 / ADOMANI, Inc. (NASDAQ: ADOM), a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, today acknowledged that during Blue Bird Corporation's recent 2nd quarter earnings conference call, the premier school bus manufacturer announced it received from its U.S. dealer network over 200 quotes for the all-new electric school bus Powered by ADOMANI®. Blue Bird's acknowledgment follows the more than a dozen national Ride and Drive events across North America hosted by Blue Bird, ADOMANI® and local Blue Bird bus dealers. ADOMANI® supplies the all-electric drivetrains for Blue Bird's Type C and Type D electric school buses.
Phil Horlock, President and CEO of Blue Bird Corporation, made the announcement last month during the Blue Bird earnings conference call to stockholders. "Since the first quarter, our all-new Type C electric [school] bus has qualified for both the HVIP and TVIP voucher programs in California and New York. This means we are the only manufacturer to qualify both Type C and Type D electric buses for these programs," Horlock commented. "This qualification, together with more than a dozen electric bus Ride and Drives…has enabled us to quote more than 200 units to school districts and we've already received first orders for delivery later this year."
Blue Bird and ADOMANI®, along with Blue Bird's dealers in California, New York, Florida and various other states, have been hosting the Ride and Drive events, helping educate school districts, communities and government officials about the value the electric school bus brings to students, schools and the environment. Currently, California and New York offer HVIP and TVIP incentive programs with funding of between $150,000 to $220,000 for each all-electric school bus. Some states, including California and New York, may offer additional funding for electric school bus purchases from the VW Mitigation Settlement Fund and various government agencies.
"Blue Bird is an exceptional business partner, especially in the alternative fuel school bus market," said Jim Reynolds, President and CEO of ADOMANI®. "We currently have a three-year exclusive agreement with Blue Bird and we look forward to many more years as partners."
ADOMANI® is gearing up for more Ride and Drive events in California in the coming weeks, citing the tremendous success in the state this year so far. "California is the pioneer and is the leading state in alternative energy implementation," said John Roselli, VP of Sales and Marketing for ADOMANI®. "We have the mindset, funding and resources in the state to support the electric vehicle and school bus movement."
The quotes for all-new electric school buses Powered by ADOMANI® received by Blue Bird Corporation represent an opportunity for future sales of such buses, although any or all of such quotes may not result in the receipt by Blue Bird Corporation of firm orders for such products.
About ADOMANI®
ADOMANI, Inc. is a provider of zero-emission electric and hybrid vehicles and replacement drivetrains that is focused on reducing the total cost of vehicle ownership. ADOMANI® helps fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price instability and local, state and federal environmental regulatory compliance. ADOMANI® designs and causes to be designed advanced zero-emission electric and hybrid drivetrain systems for use in new school buses and medium to heavy-duty commercial fleet vehicles.
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospectus or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. 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 ADOMANI® 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," "expects," "believes," "strategy," "opportunity," "anticipates," "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, ADOMANI® undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
CONTACT:
ADOMANI, Inc.
Kevin Kanning
V.P. of Investor Relations
(650) 533-7629
[email protected]
Hayden IR
James Carbonara
Partner
(646) 755-7412
[email protected]
ADOMANI, Inc.
Michael K. Menerey
Chief Financial Officer
(626) 483-3280
[email protected]
SOURCE: ADOMANI, Inc.