A total of 317,000 Class 3 trucks and 223,000 Class 4-7 trucks were sold in 2017 in the United States
CORONA, CA / ACCESSWIRE / July 25, 2018 / ADOMANI, Inc. (NASDAQ: ADOM), a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, announced today that it expects to receive the first of its Class 3 all-electric zero-emission delivery trucks in mid-August 2018, with the initial Class 4 delivery trucks to follow in September 2018. The ADOMANI®-branded all-electric zero-emission trucks are designed to be configured to meet many industry needs, including local delivery services, package delivery and school district white fleet services, among others.
ADOMANI® CEO, Jim Reynolds and COO, Rick Eckert recently returned from a trip to Malaysia and China during which they visited the facilities of the current manufacturers of component parts used in the assembly of ADOMANI's new zero-emission all-electric Class 3 and 4 delivery trucks and the factories of several potential new suppliers. Once received, the trucks will undergo testing by ADOMANI®, after which ADOMANI® will submit the trucks for certifications in the United States and Canada, which it expects to occur by the early fourth quarter of 2018. Subsequently, ADOMANI® intends to offer the delivery trucks for sale through its sales network and anticipates that deliveries will begin in early 2019.
Mr. Reynolds stated, "I'm very impressed with the progress made to date by our manufacturing partners on the all-electric zero-emission ADOMANI®-branded delivery trucks since we announced our entry in the market, and I look forward to seeing the first EV trucks traveling on U.S. highways in 2019."
California, in addition to offering purchase incentives for electric school buses, offers incentive programs for commercial zero-emission trucks. Class 3 zero-emission trucks are eligible for up to $55,000 per vehicle and Class 4 zero-emission trucks are eligible for up to $90,000 in incentives through various state programs.
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]