Envirotech Vehicles and Arkansas Economic Development Commission Announce Partnership Providing Envirotech Up To $27 Million In Economic Incentives

OSCEOLA, AR / ACCESSWIRE / June 30, 2022 / Envirotech Vehicles, Inc. (OTCQX:EVTV)(OTCQX:EVTVD), a provider of new zero-emission, purpose-built electric vehicles (the "Company"or "Envirotech"), has announced a partnership with the Arkansas Economic Development Commission (AEDC) to assist with the Company's first U.S.-based, state-of-the-art manufacturing facility in Osceola. The agreement will aid in facility construction and expansion, in addition to hiring and training efforts to bring more than 850 full-time employees to Mississippi County. The incentive package is worth up to $27 million for Envirotech if fully realized.

Phillip Oldridge, CEO of Envirotech Vehicles, commented, "We're excited to announce a partnership with AEDC, which is one of many recent announcements showcasing the Company's ability to ramp up EV production and get more commercial EVs on the road to our customers. We have been making tremendous progress. Final assembly is currently taking place in Osceola and facility renovations are underway. As the state's only licensed auto manufacturer, we're excited to have AEDC on board as we work to hire and train more than 850 employees."

"It is great news that the AEDC and Envirotech Vehicles have partnered together to bring auto manufacturing back to the state," said Arkansas Senator Dave Wallace. "EVT has a proven track record in the EV space with customers all over the country. Electric vehicle demand is growing, and I'm delighted that Arkansas is continuing to gain a foothold in the industry. This partnership will do exceptional things for Mississippi County and for Arkansas."

The Envirotech Vehicles' team brings more than 30 years of in-depth industry expertise, as well as access to an innovative, growing customer-ready product line of vehicles, systems and green technology that serves last-mile fleets, school districts, public and private transportation service companies and colleges and universities to meet the increasing demand for medium to heavy-duty electric vehicles. The Company's products include Electric Urban Trucks, Electric Logistics Vans, Electric Cutaway Vans and Electric Right-Hand Drive Logistics Vans.

On June 3, 2022, EVT announced a partnership with Olympus Construction to assist in the construction and renovation of its 580,000-square-foot facility. To stay up to date on the latest EVT news, please visit www.evtvusa.com.

About Envirotech Vehicles
Envirotech Vehicles, Inc. is a provider of purpose-built zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. We serve commercial and last-mile fleets, school districts, public and private transportation service companies and colleges and universities to meet the increasing demand for heavy duty electric vehicles. Our vehicles address the challenges of traditional fuel price cost instability and local, state and federal environmental regulatory compliance. For more information visit www.evtvusa.com.