Under the Symbol:
ADOMANI(R) Debuts its All-Electric Commercial Trucks and Vans in Northern California Ride-and-Drive Events
Tuesday, January 29, 2019 9:00 AM
CORONA, CA / ACCESSWIRE / January 29, 2019 / ADOMANI, Inc. (NASDAQ: ADOM), a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, began showcasing its new all-electric zero-emission Class 3 truck and cargo van to Northern California school districts last week. The transportation directors and staff that participated in the Ride-and-Drive events included members from Pittsburg, San Jose, Fremont, and Twin Rivers Unified School Districts. ADOMANI® is currently scheduling more Ride-and-Drive events in both Southern and Northern California as well as Nevada.
The zero-emission all-electric commercial trucks and vans are part of ADOMANI's all-electric product line-up that helps reduce greenhouse gas emissions and provide a lower total cost of ownership for customers. "The 2018 Ride-and-Drive events showcasing the zero-emission all-electric Blue Bird All American RE Type D school buses powered by ADOMANI® generated a significant amount of interest and sales," said Matt Essex, Director of New School Bus Sales for ADOMANI®. Essex continued, "We're continuing to work with California school districts because the trucks and vans we offer have the required range and we believe they are a very good operational fit for their different departments, from food service, warehouse, maintenance and operations to custodial and grounds crews. Additionally, our white fleet all-electric trucks, and vans are designed to allow these districts to utilize their existing school bus charging infrastructure to charge the vehicles."
ADOMANI® generated $2.7 million in drivetrain sales to Blue Bird for the nine months ended September 30, 2018, with additional shipments in the fourth quarter, in large part by making schools aware of its products through the Ride-and-Drive events conducted by ADOMANI® in partnership with Blue Bird and its dealers. ADOMANI® anticipates that its all-electric trucks and vans will make their debut in markets outside of the education market. "We have trade shows lined up in 2019 to showcase the zero-emission all-electric vehicles to different market segments," said Jim Reynolds, President and CEO of ADOMANI®. "We are seeing a lot of interest in the electric vehicles from small businesses to large vehicle fleet owners, especially since there is state funding available through the HVIP program in California."
ADOMANI's zero-emission all-electric commercial vehicles currently include a Class 3 truck, a cutaway that is easily adapted to meet many industry needs, and a cargo van suitable for delivering anything from cargo to passengers; we will soon also have a Class 4 truck. HVIP funding offers up to $50,000 per Class 3 truck and $90,000 incentive funding per Class 4 all-electric truck, which reduces the total cost of purchase as compared to traditional gas or diesel-powered trucks in the same class.
ADOMANI, Inc. is a provider of zero-emission all-electric and hybrid drivetrain systems for integration in new school buses and medium to heavy-duty commercial fleet vehicles, as well as re-power conversion kits for the replacement of drivetrain systems in combustion-powered vehicles. ADOMANI® is focused on reducing the total cost of vehicle ownership and 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. For more information, visit www.ADOMANIelectric.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 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.
INVESTOR RELATIONS CONTACTS:
V.P. of Investor Relations
Michael K. Menerey
Chief Financial Officer
(951) 407-9860, ext 205
SOURCE: ADOMANI, Inc.