|ADOMANI(R) to debut All-Electric Box Truck and Cargo Van at the Green California Schools and Community Colleges Summit|
With available HVIP incentive funding in California, the ADOMANI® zero-emission all-electric trucks offer competitive pricing as compared to similar diesel, gas or CNG Class 3 or Class 4 trucks, and offer a potentially lower total cost of ownership
CORONA, CA / ACCESSWIRE / October 17, 2018 / ADOMANI, Inc. (NASDAQ:ADOM), a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, announced today the planned debut of its all-electric commercial truck products. ADOMANI's zero-emission Class 3 truck and cargo delivery van will be on display in the exposition area of the Green California Schools and Community Colleges Summit (the "Summit") to be held at the Pasadena Convention Center in Pasadena, California, on October 29-30, 2018.
"We're excited to offer an expanding product line of zero-emission all-electric truck products to reach a new commercial fleet customer base," said Jim Reynolds, President and CEO of ADOMANI®. "And, with the recent delivery of the first shipments of "Powered by ADOMANI®" Blue Bird all-electric school buses to multiple California schools, these trucks may also be of interest for school district food services and facility maintenance use. The truck products can even utilize the already-installed vehicle charging infrastructure."
California leads the nation in grant funding for the purchase of commercial buses and trucks. Currently, there is about $72 million in HVIP funding available for alternative-fueled commercial vehicles, and an additional $125 million of potential funding is scheduled for approval by the California Air Resources Board (CARB) later this month. With the available HVIP funding, school districts and small businesses are eligible for up to $50,000 for a Class 3 vehicle and up to $80,000 toward a new Class 4 vehicle, with an additional $5,000 and $10,000, respectively, available for schools and businesses located in disadvantaged areas.
"With state incentive funding, the purchase price of the all-electric Class 3 and Class 4 vehicles becomes competitive with that of similar diesel, gas or even CNG-powered vehicles, while the on-road performance is similar," said John Roselli, VP of Sales and Marketing for ADOMANI®. "From a total cost of ownership perspective, these zero-emission trucks offer the potential for reduced fueling and maintenance costs for the fleet operator and a reduction in greenhouse gas emissions in the communities where they operate. It's a win-win for the environment and the customer," Roselli stated.
The ADOMANI® zero-emission all-electric truck products have a range of up to 175 miles, making the electric vehicles well-suited for school districts and delivery businesses operating in urban or rural settings. With a standard J1772 charging plug, the same plug used on many electric cars, a driver has the option of recharging at one of the over 3,800 electric charging stations in California, according to the Alternative Fuel Data Center. "Electric charging stations in California are almost in parity with diesel fueling stations and outnumber the 154 CNG stations," said Rick Eckert, Chief Operating Officer for ADOMANI®. "Range anxiety is rapidly becoming non-existent considering electric vehicle drivers have nearly the same options as diesel-fueled trucks."
ADOMANI, Inc. is a provider of zero-emission electric and hybrid vehicles and replacement drivetrains 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 cost 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. 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:
ADOMANI, Inc.Kevin Kanning
V.P. of Investor Relations
Michael K. Menerey
Chief Financial Officer
SOURCE: ADOMANI, Inc.