ADOMANI’s Backlog Grows to $9.1M, a 42% Increase from its Backlog announced on October 10, 2018
Blue Bird Corporation places orders for additional “Powered by ADOMANI®” all-electric drivetrain systems for zero-emission electric school bus order fulfillment.
CORONA, CA / ACCESSWIRE / December 18, 2018 / ADOMANI, Inc. (NASDAQ:ADOM),a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, announced today a 42% increase in its October 10, 2018 backlog of $6.4 million to $9.1 million. The increase is a result of recent purchase orders from Blue BirdCorporation for additional zero-emission drivetrain systems for Blue Bird’s all-electric Vision Type C and All American RE Type D school buses. ADOMANI® and Blue Bird and its dealerships across the United States have partnered in more than 80 Ride-and-Drive events showcasing the all-electric, zero-emission school buses to school districts, community leaders and government officials. ADOMANI® currently expects to deliver approximately $1.0 million, or 11%, of its current backlog in 2018, and anticipates that it will deliver the balance by the end of the first quarter of 2019.
“We are seeing an increased level of demand from fleet operators and school districts for all types of electric vehicles, including all-electric offerings such as our commercial trucks, vans and chassis,” stated Jim Reynolds, President and CEO of ADOMANI®. Reynolds continued, “It’s exciting to see the high level of interest from existing and new customers in moving to electric fleets, from cargo vans to delivery trucks and, in the case of school districts, to the Blue Bird lineup of all-electric school buses ‘Powered by ADOMANI®.'”
Other factors that ADOMANI® believes are fueling the surge in orders for zero-emission all-electric school buses are the various grants and the Volkswagen Mitigation Trust funds available for zero-emission electric school buses in California, New York and several other states. As an example, California school districts are eligible for funding of up to $220,000 (or $235,000 if in a designated “Disadvantaged Community”) for the purchase of Type C or Type D all-electric school buses from the California Air Resources Board’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Program. This same program also provides up to $30,000 per bus for electric vehicle supply equipment, which is designed to help mitigate charging infrastructure costs and accelerate the adoption of these vehicles by school districts. Additional grants and funding opportunities for all-electric school buses in California include the Rural School Bus Pilot Project implemented through the North Coast Unified Air Quality Management District, California Energy Commission School Bus Replacement Program, AB 617 Community Air Protection Program, Carl Moyer Memorial Air Quality Standards Attainment Program and the Diesel Emission Reduction Act (DERA).
John Roselli, Vice President of Sales and Marketing of ADOMANI® said, “I believe the increased orders for our electric drivetrains are a direct result of the efforts of Blue Bird, the Blue Bird Dealers network and the staff of ADOMANI®, who have collectively supported the sales and marketing efforts by training the dealers and Blue Bird personnel and meeting with the customers of the dealers to inform them of the benefits of zero-emission vehicles, including reductions in both operational costs and the emission of pollutants in the communities they serve.”
Blue Bird delivered its first seven zero-emission all-electric school buses “Powered by ADOMANI®” to school districts in September 2018.
ADOMANI, Inc. is a provider of zero-emission 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 also a provider of new zero-emission electric and hybrid vehicles 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.
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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 ADOMANI’s reports filed 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.
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