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OSCEOLA, AR – Envirotech Vehicles, Inc. (NASDAQ:EVTV), a company specializing in zero-emission electric vehicles, has announced the hiring of seven new employees to enhance its operational capabilities. The strategic expansion includes professionals in manufacturing, logistics, and operational finance, aiming to meet the growing demand for the company’s electric vehicles and ensure on-time delivery. The new team members, mostly based at EVT’s manufacturing facility, are expected to play a pivotal role in increasing production rates and maintaining the company’s high-quality standards. The hires include Zakir Khan as Facilities and Operations Manager, David Kirlin as Regional Service Manager, BJ Tracy as Director of Logistics, and Fahad Khan as Business Analyst. Additionally, two electric vehicle technicians and one logistics employee have joined the team. Zakir Khan brings extensive experience from the aviation sector, where he specialized in jet trainer and fighter design, production facility setup, and aircraft development oversight. He will now lead the establishment of a modular Complete-Knock-Down (CKD) assembly line for electric vans at EVT. David Kirlin’s background in building and servicing hybrid and electric heavy-duty vehicles since 1999 positions him as a valuable asset for facilitating electric vehicle programs and fleet maintenance. His expertise has contributed to securing millions of miles of revenue service and future EV orders. BJ Tracy’s two decades of experience in operations and process improvements will be crucial for EVT to ensure the safe and timely delivery of vehicles. Fahad Khan’s 15 years as a Business Analyst and Project Management professional will support the company’s product management, data analytics, and cost reduction initiatives. The addition of these skilled individuals aligns with EVT’s commitment to innovation, sustainability, and customer satisfaction in the commercial electric vehicle industry. Philip Oldridge, CEO of Envirotech Vehicles, expressed excitement about the new hires, emphasizing their expected contribution to scaling production and enhancing customer satisfaction. Envirotech Vehicles serves various sectors, including commercial and last-mile fleets, school districts, and public and private transportation companies, focusing on reducing vehicle ownership costs and meeting environmental regulatory compliance. This expansion comes amidst a growing market for sustainable transportation solutions, as EVT continues to pioneer in the electric vehicle space. The information regarding the company’s strategic hiring initiative is based on a press release statement. In other recent news, Envirotech Vehicles, a specialist in zero-emission electric vehicles, has been making significant strides in their operations. The company has delivered six electric vehicles and an electric forklift to Texas-based PlugD Commercial Electric Leasing and Rentals Inc. as part of an ongoing sales agreement. Additionally, Envirotech has inked a $16.2 million deal with PlugD for the supply of 200 electric high roof vans and trucks, marking the largest deal for the company so far. Envirotech Vehicles has also secured a considerable $4.3 million in binding purchase orders for 43 vehicles from 19 customers, backed by New Jersey’s Zero Emission Incentive Program (NJ ZIP). These orders are anticipated to generate significant revenue, with deliveries set for 2024. InvestingPro Insights As Envirotech Vehicles, Inc. (NASDAQ:EVTV) gears up its operational capabilities with strategic new hires, investors and industry observers are keeping a close eye on the company’s financial health and market performance. The recent expansion indicates EVT’s commitment to scale up production and meet the increasing demand for electric vehicles. To complement the company’s efforts, we’ve gathered key insights from InvestingPro that may provide a broader financial context. InvestingPro data reveals a market capitalization of 22.35 million USD for EVT, reflecting the company’s current market valuation. Despite facing challenges, as indicated by a negative P/E Ratio (adjusted) of -2.16 for the last twelve months as of Q1 2024, the company has managed a significant quarterly revenue growth of 54.91% in Q1 2024. This growth suggests potential resilience and a capacity for recovery. Moreover, the gross profit margin stands at 37.95%, which could be a sign of the company’s ability to maintain profitability in its core operations during this period of expansion. Envirotech Vehicles’ stock has experienced considerable volatility, as highlighted by an InvestingPro Tip that notes its high price volatility. This is further evidenced by a 37.56% decrease in the 1-month price total return and a more substantial 45.99% drop over the last three months. However, an InvestingPro Tip suggests that analysts are optimistic about the company’s future, predicting sales growth and profitability this year, which may signal a turnaround for EVT. Investors interested in a deeper analysis of Envirotech Vehicles, Inc. can find additional InvestingPro Tips by visiting https://www.investing.com/pro/EVTV. There, they can access a comprehensive list of 13 additional tips to guide their investment decisions. Moreover, users can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable insights into the company’s performance and prospects. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. EVTV: is this perennial leader facing new challenges? With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.

OSCEOLA, AR / ACCESSWIRE / March 28, 2024 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), a provider of new zero-emission, purpose-built electric vehicles (“EVTV” or the “Company”), today announced that the Company will deliver a total of 6 electric vehicles and 1 forklift to PlugD Commercial Electric Leasing and Rentals Inc. (“PlugD”), a Texas-based commercial electric vehicle leasing company by Friday, March 29, 2024 as part of a previously announced sales and purchase agreement. EVTV will receive the funding before March 29, 2024, net of a deposit of $200,000 received previously for future deliveries in conjunction with this agreement. “We are pleased and very excited to deliver these first 6 electric vehicles of the 200 ordered along with one of our electric forklifts to PlugD. Our team’s commitment to this project is of the utmost importance.” Said Phillip Oldridge, CEO of Envirotech Vehicles. PlugD CEO Adam Greenberg expressed excitement, stating, “This marks the beginning of numerous premium deliveries to our valued PlugD customers and signifies a strong commitment to our successful partnership with Envirotech Vehicles. Of the 6 total vehicles, we will be sending two Class-3 vehicles for a pilot program with The FRONTDoor Collective, doing last mile deliveries for a major retailer. The box truck and stake bed truck we are receiving will be delivered to MedProtect, delivering medical supplies to hospitals throughout Texas. The forklift and other class 3 vehicle will be sent to Gator Chemical for their pipeyard and chemical movement. The zipper we will be receiving will be used at an airport for security and perimeter control. Thank you to the Envirotech team for delivering our first batch of vehicles.” 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. 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. 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 Envirotech Vehicles, Inc. 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,” “expected,” “believes,” “strategy,” “opportunity,” “anticipated,” “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, Envirotech Vehicles undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events. Envirotech Vehicles, Inc. Franklin Lim, CFO Telephone: (870) 970-3355 Email: [email protected] PlugD Commercial Electric Leasing and Rentals Inc. Vanessa Castro, Director of Communications [email protected] SOURCE: Envirotech Vehicles, Inc

OSCEOLA, AR / ACCESSWIRE / March 20, 2024 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), a provider of new zero-emission, purpose-built electric vehicles (the “Company”), today announced that the Company entered into a Sale and Purchase Agreement (the “Agreement”) with PlugD Commercial Electric Leasing and Rentals Inc. (“PlugD”), a Texas-based commercial electric vehicle leasing company. Under the terms of the Agreement, EVTV will deliver 200 electric high roof vans and trucks to PlugD for a total of approximately $16.2 million. The sale will take place over the next 13 months. “We are thrilled to partner with PlugD in this transformative venture,” Phillip Oldridge, CEO of Envirotech Vehicles. “This order represents the largest deal to date for Envirotech and reaffirms our team’s 30-plus years of commitment to the development of purpose-built, low-maintenance, zero-emissions vehicles.” “At PlugD, we are committed to providing our customers with the best vehicles for their business growth in the commercial fleet space.” said CEO Adam Greenberg. “After personally testing several different manufacturers, we chose Envirotech Vehicles because they are not only able to deliver with current inventory but were more reliable and cost-effective. The safety features and smooth ride are unmatched, and as a sales and leasing company, we feel confident in knowing that our customers and communities will benefit from this technology They represent the pinnacle of efficiency, reliability, and sustainability, embodying the future of transportation.” This historic purchase order highlights the growing demand for electric vehicles and the increasing recognition of their importance in addressing business, social, and environmental challenges. PlugD and Envirotech Vehicles are proud to lead the way in advancing sustainable transportation solutions and shaping a more reliable, cleaner, and brighter future for generations to come. About Envirotech VehiclesEnvirotech 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. Cautionary Statement Regarding Forward-Looking StatementsStatements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements. 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 Envirotech Vehicles, Inc. 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,” “expected,” “believes,” “strategy,” “opportunity,” “anticipated,” “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, Envirotech Vehicles undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events. Envirotech Vehicles, Inc.Franklin Lim, CFOTelephone: (870) 970-3355Email: [email protected] PlugD Commercial Electric Leasing and Rentals Inc.Vanessa Castro, Director of [email protected]

OSCEOLA, AR / ACCESSWIRE / March 12, 2024 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), a provider of new zero-emission, purpose-built electric vehicles (the “Company”), today announced that the Company currently has 43 vehicles on order from 19 customers with binding purchase orders and with funding approved by New Jersey’s Zero Emission Incentive Program (“NJ ZIP”) As noted above, these orders represent approximately $4.3 million in revenue, and are anticipated to be delivered in 2024. Philip Oldridge, Chief Executive Officer of Envirotech Vehicles, commented, “We are pleased to provide this update to our investors and customers to demonstrate that we have been hard at work to attract additional customers through NJ ZIP. Significant interest in green transportation from the business owners in the state of New Jersey in conjunction with the NJ ZIP program continues to be strong, and we look forward to providing customers in New Jersey with our best-in-class vehicles. We are also excited to continue to be participating in the program in its second phase, which began in 2022.” NJ ZIP’s second phase is a $19million voucher program that supports businesses and institutions purchasing new, zero-emission vehicles operating in the greater Newark and greater Camden areas by offering up to $175,000 towards the purchase of medium and heavy duty zero-emission vehicles. The program provides vouchers with base values ranging between $20,000 to $175,000 for businesses and institutional organizations looking to transition their fleets to zero-emissions. Bonuses are available for small businesses and minority-, women-, and veteran-owned businesses. NJ ZIP is funded by proceeds allocated to the New Jersey Economic Development Authority (“NJEDA”) by the Regional Greenhouse Gas Initiative (“RGGI”) for the purposes of reducing harmful emissions, especially in communities disproportionately impacted by transportation emissions, and creating economic opportunity within the state. 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.

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