An all-new Development Center in Downey, California and renewed interest in vehicle ride-and-drives highlight big things for ADOMANI at the mid-point of 2019
Adomani Electric (NASDAQ:ADOM)
— ADOMANI Electric CEO, Jim Reynolds
REDWOOD CITY, CALIFORNIA, USA, May 29, 2019 /EINPresswire.com/ — ADOMANI Electric has already had a great new year with the announcement of many exciting new product and an impressive forecast of better than predicted sales. Add to that momentum a new 43,000 sq. ft. facility for R & D for the five-year-old company in Downey, California and a productive Advanced Clean Transportation (ACT) Expo in Long beach last month and things look even better. The benefits of the ACT Trade Show include over 30 requests for ride-and-drive opportunities from companies and government agencies looking to experience the ADOMANI Electric product line. All that has made this young company's executive board extremely happy.
The new Development Center, in Downey, California, offers up a huge amount of under-roof work space for development of new products, just part of the four-acre location that includes a paved and fenced area for parking their advanced technology vehicles. The new operation is about 35 miles from the ADOMANI's current headquarters, which opened in 2017 that provided office space but no area for product development. Zoned for manufacturing, the new facility will, “allow for research and development, staging of materials, assembly and/or manufacturing, testing of vehicles and the secure storage of prototypes, demonstration vehicles, equipment and finished inventory,” according to Rick Eckert, COO of ADOMANI.
Said ADOMANI Electric CEO, Jim Reynolds, “The space will allow us to build and inventory certain items ahead of demand, helping to compress the extended timeframe often required between, taking a customer’s order and the delivery of the final product.”
Shifting gears, the ACT Expo last month, in Long Beach, California, gave ADOMANI Electric the chance to show their latest products from Class 3 & 4 all-electric trucks, electric utility vans to their now-famous “Powered by ADOMANI” BlueBird electric school buses. Clearly the over 30 demonstration ride-and-drive requests received from companies such as the L.A. Department of Water & Power, L.A. City and the school districts from the ACT Expo is an indicator that government agencies are all looking to get on the electric vehicle movement.
Finally, the recent sale of a fleet of ADOMANI Electric Cargo Vans to the County of Santa Clara County, California is another exciting opportunity as we head into the second half of the year. The purchase of ADOMANI all-electric vans (part of the county's effort to grow an all-electric vehicle fleet that provides services to county facilities and residents) not only helps the citizens of Santa Clara county breathe a little cleaner, but it further validates the positioning of ADOMANI as a leader in green technology that is right on target with today's marketing.
It’s already been a great year for ADOMANI and it looks to be getting even better.
ADOMANI, Inc. is a provider of zero-emission all-electric and hybrid drivetrain systems for integration into 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. In addition, ADOMANI® helps 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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This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for ADOMANI® Inc. products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in ADOMANI’s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding product offerings and marketing. For a more detailed description of the risk factors and uncertainties affecting ADOMANI® Inc., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at www.sec.gov. ADOMANI® Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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