Call today! 951.407.9860
Call today! 951.407.9860
Corona, CA/ ACCESSWIRE/ February 24, 2021/ ADOMANI, Inc. (OTCQB: ADOM} a provider of new zero emission, purpose-built electric vehicles and drivetrain solutions, announced today that in conjunction with the recent merger agreement with Envirotech Drive Systems, Inc. (“EVT”), it intends to change the company name to Envirotech Vehicles, Inc. The name change is expected to be approved at the combined company’s annual stockholders meeting tentatively scheduled to be. held in early May, 2021. In the interim, the company intends to conduct business primarily as Envirotech Vehicles.
“Our soon to be completed merger transforms ADOMANI into a leading-edge electric vehicle and drive train technology company utilizing proprietary systems and technology for purpose built electric vehicles. EVT, which will own a majority of the outstanding shares of the combined company, has an established track record developing proprietary solutions, and the name Envirotech better reflects our business going forward: utilizing cutting edge technology to provide customers with EV solutions that reduce their carbon footprint,” said Phillip Oldridge, ADOMANl’s Chief Executive Officer.
Mr. Oldridge continued, “The market opportunity in front of us is massive, and we look forward to fulfilling the growing need for purpose built electric vehicles. We have begun to work with partners to build the new brand, increase our visibility, and expand our marketing and sales efforts around the Envirotech name.”
About Envirotech Drive Systems, Inc.
Envirotech Drive Systems, Inc. has partnered with leading OEM suppliers, and utilizes proprietary systems and technology to build leading edge all-electric vehicles and drive train technology that are now both more efficient as well as more affordable than traditional combustion engines. EVT believes it will be the first to market to sell and deliver purpose-built all electric vehicles in California without requiring government subsidies. EVT sells a line of newly innovated, high quality, multi-platform electric drive systems, controllers, ancillary components, and telematics options for existing truck fleets as well as for special-purposed vehicles of all sizes. EVT systems can be retrofitted into rolling stock or integrated as OEM parts.
ADOMANI, Inc. is a provider of new zero-emission electric vehicles and is a provider of zero-emission electric drivetrain systems for integration in medium to heavy-duty commercial fleet vehicles, as well as re-power conversion kits for the replacement of drivetrain systems in combustion-powered vehicles. ADOMANl’s zero-emission electric vehicles are focused on reducing the total cost of vehicle ownership and help fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price cost instability and local, state and federal environmental regulatory compliance. For more information visit www.ADOMANlelectric.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 ADO MANI 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,”11strategy,“ 11opportunity,“ “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: ADOMANI, Inc.
Telephone: (951) 407-9860 ext. 205 Email: mike.m@ADOMANlelectric.com
SOURCE: ADOMANI, Inc
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