Press Release, ADOMANI(R) Signs Letter of Intent to Purchase, Assemble and Distribute ev Transportation Services' FireFly ESV(R) Vehicle.
CORONA, CA / ACCESSWIRE / April 21, 2020 / ADOMANI, Inc. (OTCQB:ADOM), a provider of new zero-emission purpose-built electric vehicles and drivetrain solutions, announced today that it has signed a Letter of Intent (LOI) to purchase 120 FireFly ESV vehicles from Massachusetts-based ev Transportation Services, Inc ("evTS"), beginning late summer 2020. According to the LOI, ADOMANI would serve as a distributor in California for current and future evTS all-electric vehicle offerings, including the FireFly ESV and other vehicles as they are developed. In addition, it is contemplated by the LOI that evTS will discuss entering into a contract with ADOMANI to perform final assembly, testing and warranty servicing of its vehicles.
To meet the growing three-wheel vehicle demands in the U.S. market, evTS and ADOMANI are working together to market and sell evTS' FireFly ESV. As urban centers in the US grow, the need for more compact, agile, and non-polluting transportation increases. According to Marketwatch.com, the electric three-wheel market is projected to grow at a compounded annual growth rate of over 17% through 2021.
The FireFly ESV is an all-electric, zero-emission vehicle designed for a variety of essential services applications that include last-mile delivery, parking enforcement, security, shipping and delivery, and grounds maintenance. The three-wheel styled Firefly ESV provides a quiet operation, while eliminating harmful pollutants expelled by internal combustion engines. With the ability for the street legal FireFly ESV to reach speeds in excess of 50 mph and a range of 90+ miles on a single charge, with a load capacity of 1,100 lbs, the vehicle is ideal to meet the demand of a variety of essential services applications. "We are in a perfect spot for the FireFly ESV," stated Rick Eckert, COO for ADOMANI. "Our California facility is located close to urban centers and a variety of terrains where the vehicle can easily be put into play and utilized."
ADOMANI opened their Corona, California assembly facility in February of this year for the specific purpose of assembling their current line of EV trucks and vans, as well as providing warranty and repair services for commercial EVs. "Our Corona assembly facility is already set-up to handle light production work. evTS' FireFly ESV is a perfect fit for our operations," said Jim Reynolds, President and CEO for ADOMANI. "Our goal is to become a commercial EV hub for assembly and service in Southern California," Reynolds continued. ADOMANI's Corona facility is approximately 10,600 square feet and with the adjacent lot, the total combined facility size is approximately 42,000 square feet.
"The agreement with ADOMANI represents a major milestone for evTS, and we are excited to explore a partnership with them. Our FireFly ESV all-electric lightweight commercial utility vehicle is a perfect complement to their existing lineup of EVs, and we expect to significantly expand our sales in California and surrounding states based on the quality and reach of ADOMANI's sales, service and support organization. Our vehicle is filling the critical and exploding need for essential service vehicles, particularly for last mile on-demand urban delivery vehicles," stated David Solomont, CEO for evTS.