Envirotech Vehicles Expands Operations with 3,000 Sq M Assembly Facility in Philippines
Portfolio Pulse from Benzinga Newsdesk
Envirotech Vehicles, Inc. (NASDAQ:EVTV) has secured a 3,000 square meter assembly facility in the Philippines, located in Clark Free Trade Zone. The company plans to open the facility with two manufacturing lines, eventually scaling up to five production lines, with the capacity to produce more than 2,000 vehicles per year.
September 12, 2023 | 10:34 am
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Envirotech Vehicles' expansion into a new assembly facility in the Philippines could potentially increase its production capacity, which may positively impact its revenues and stock price in the short term.
The new assembly facility will allow Envirotech Vehicles to increase its production capacity, which could lead to increased sales and revenues. This expansion indicates the company's growth and could attract more investors, potentially leading to a rise in the stock price.
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