|ADOMANI(R) Backlog Increases 41% to $6.5M with Recent Purchase Order for Electric School Bus Drivetrain Systems|
Blue Bird Corporation places an order for additional electric school bus drivetrains "Powered by ADOMANI®" to fill orders for its All American Type D and Vision Type C zero-emission electric school buses.
CORONA, CA / ACCESSWIRE / May 17, 2018 / ADOMANI, Inc. (NASDAQ: ADOM) today announced its backlog has increased 41% to $6.5 million as a result of the recent receipt of a purchase order from Blue Bird Corporation for additional zero-emission electric drivetrain systems for Blue Bird's all-electric Vision Type C and All American Type D school buses. Delivery of the entire backlog is expected in 2018. ADOMANI® is touring with the Blue Bird Experience Event all across the United States and Canada showcasing the all-electric "Powered by ADOMANI®" buses to school districts, community and state leaders, and transportation professionals.
"We are excited to see the enthusiasm and eagerness to adopt the zero-emission technology from transportation professionals and community leaders in many states," said Jim Reynolds, President, and CEO of ADOMANI®. "With state alternative fuel purchase incentives and the Volkswagen Mitigation Trust funds available for electric school buses, fleet owners in states such as California and New York may be eligible for funding that ranges from $150,000 to $220,000 or more for each electric school bus. Combine this with the fact that the final product is coming from the premier school bus industry leader in the United States and Canada with an established dealership network for sales, maintenance, and warranty, and the choice of these zero-emission school buses is very compelling."
Blue Bird dealers in the United States are now accepting customer purchase orders for "Powered by ADOMANI®" zero-emission electric school buses with deliveries for the All American Type D to begin in September of this year.
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® drivetrain systems are designed to 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. ADOMANI ® designs and causes to be designed for advanced zero-emission electric and hybrid drivetrain systems for integration in new school buses and medium to heavy-duty commercial fleet vehicles. 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 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.
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SOURCE: ADOMANI, Inc.