Envirotech Electric Vehicles Inc. | Fall 2018 Shareholder Newsletter
One of our first Envirotech electric vans taking a tour of Gastown in Vancouver.
We are elated to celebrate this long-anticipated news with each of you, knowing that we arrived here together, and that we could not have done so without your support. Despite a number of severe weather delays, our very first Envirotech electric vehicles landed in the Port of Vancouver at the beginning of September. A second delivery of vehicles is scheduled to land later this month.
SALES & MARKETING
Demonstrations of our new full and cutaway (i.e. cab and chassis only as pictured to the left) vans have already begun, with further presentations anticipated for the several companies and institutions who have expressed early and enthusiastic interest in submitting purchase orders.
We are also excited to announce a meeting with BC Premier, John Horgan, pending between October 15th and 31st. This media-present event will include a formal presentation of the vehicles and a test drive with the Premier. Stay tuned for further details!
In our first newsletter, we highlighted two local interest groups: the City of Vancouver and BCIT’s School of Transportation, a North American leader in transportation training. Last week, President David Oldridge met with the City of Vancouver to demo our new full and cutaway vans.
Envirotech President, David Oldridge, describing the various features of our new vans to a group of engineers with the City of Vancouver.
Further, we are in conversation with the City of Santa Clarita, California discussing the acquisition of a number of our electric tool vans and cutaway vehicles, our 4-ton electric trucks to be utilized for food & laundry delivery services and prisoner transport within the state’s prison system, as well as the stand-alone drive systems to be installed in the city’s pre-existing fleet of prisoner transport vehicles.
If you or anyone you know would like to connect us with potential customers, we invite you to reach out to us. One thing is becoming increasingly clear: Envirotech is entering the market precisely when explicit demand for electric vans, trucks, and custom utility vehicles is growing exponentially! Check out this EV Trends Infographic for visual representation of the global rise of electric vehicles.
Our vehicles have been successfully insured and plated with the rare and coveted British Columbia “Manufacturer” designation. Prior to 2017, vehicle manufacturing was virtually absent in British Columbia. Envirotech is proud to be breaking ground in the commercial and industrial electric vehicle space as a British Columbia-based manufacturer.
As we build up our operations in BC, we are looking for start-up manufacturing facilities on Vancouver Island or the Lower Mainland. We invite you to explore your network for potential locations and welcome any leads you may have.
A total of $2.6 million was raised at the $0.50/share valuation. Even as our vehicles are in the certification process for DOT (US) and FMVSS (Canada), our sales and marketing efforts are bearing fruit. Vehicles are already in high demand, and we expect strong sales revenue out of the gate.
We are currently in the midst of conversations with a number of institutional financing sources regarding our next raise in order to realize on growth opportunities. Prior to this raise, we anticipate returning to the market for a small interim round at a slightly higher share price.
Stay tuned for more information about this opportunity. If people in your network are interested in taking advantage of a final early-stage retail investor round, or if you yourself are interested in investing further funds in this rapidly growing venture, please contact us as soon as possible. The investor list for this interim financing round is already being finalized.