Envirotech Vehicles Secures $10M Financing And $100M Commitment, Paving The Way For Major Expansion
Portfolio Pulse from Benzinga Newsdesk
Envirotech Vehicles has secured $10M in financing and a $100M commitment to expand its production capabilities. This will enable the delivery of over 200 vehicles to PLUGD Electric Leasing and Rentals Inc., as well as 25 EV Bumble Bee school buses and 67 Class IV cargo vans for New Jersey's voucher program.
August 27, 2024 | 10:36 am
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Envirotech Vehicles has secured significant financing to expand its EV production, including a $10M financing and a $100M commitment. This will support the delivery of over 200 vehicles to PLUGD Electric Leasing and Rentals Inc., and additional orders for New Jersey's voucher program.
The $10M financing and $100M commitment will enable Envirotech Vehicles to significantly increase its production capacity, fulfilling large orders for PLUGD Electric Leasing and Rentals Inc. and New Jersey's voucher program. This positions the company as a growing player in the last mile EV market, likely boosting investor confidence and stock price in the short term.
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