Envirotech Vehicles Inc (OTCMKTS:EVTV) Stock Gains Momentum: Gets Approval for Uplisting to the Nasdaq Capital Market
Envirotech Vehicles Inc (OTCMKTS:EVTV) provides purpose-built zero-emission electric vehicles focusing on lowering the total cost of ownership and helping fleet operators unlock the benefits of green technology. The company serves last-mile and commercial fleets, public and private service firms as well as colleges and universities to meet the demands of heavy-duty electric vehicles. The firm addresses challenges of conventional fuel price cost instability as well as local environmental regulatory compliance.
Market Stats
On Tuesday, EVTV stock gained 0.81% to $6.23 with more than 22k shares, compared to its average volume of 19K shares. The stock moved within a range of $ 6.14 – 6.23 after opening trading at $6.20.
Envirotech Vehicles Announces Approval for Uplisting to the Nasdaq Capital Market
Company on July 5, 2022, announced that its common stock had been approved for listing. It is expected to commence trading on Nasdaq Capital Market under the symbol EVTV at the opening of trading on July 6, 2022. The firm’s shares will continue to trade on OTCQX under the symbol “EVTVD” until trading starts on Nasdaq.
Phillip Oldridge, Chief Executive Officer of Envirotech Vehicles said that the listing of the stock on Nasdaq is a milestone achievement for the firm. Oldridge added that the company has been making much progress in the growth of business in the last year. He added that there has been exponential growth in sales based on completed deliveries. Furthermore, the construction of the upcoming manufacturing facility in Osceola, Arkansas in February will add more value. The CEO added that the uplisting of the stock is a culmination of all the world and it will augment visibility in the marketplace besides driving shareholder value.
Envirotech Vehicles, Inc had earlier announced a partnership with the Arkansas Economic Development Commission for assisting with the firm’s U.S.-based, state-of-the-art manufacturing facility in Osceola.
The agreement was to help in construction and expansion and result in hiring over 850 full-time employees to Mississippi County. The incentive package is about $27 million for Envirotech.
Phillip Oldridge, CEO of Envirotech Vehicles expressed excitement about announcing a partnership with AEDC, one of the many recent announcements demonstrating its ability to ramp up EV production. The CEO further opined that the company is the state’s only licensed auto manufacturer.
Arkansas Senator Dave Wallace said that it is incredible that AEDC and Envirotech Vehicles have partnered together for bringing auto manufacturing back to the state. Wallace added that EV demand is growing, and Arkansas is continuing to gain a pie in the industry.
