ADOMANI® Reports Third Quarter 2020 Results

CORONA, CA / ACCESSWIRE / November 12, 2020 / ADOMANI, Inc.

(OTCQB: ADOM), a provider of new zero-emission, purpose-built vehicles and drivetrain solutions, today announced its results for the third quarter ended September 30, 2020.

Quarterly and Recent Developments

 

Sold an all-electric, zero-emission logistics van to the City of Palmdale, California in July. The EV van will be used to deliver food and supplies to, and collect donations to benefit, residents in the South Antelope Valley Emergency Services (SAVES) program that is dedicated to alleviating hunger among very low and extremely low-income families and individuals in the SAVES service area.

 

Hired CEO Phillip Oldridge in September. Mr. Oldridge is a senior executive with over 30 years of proven experience leading teams and delivering results in the electric transportation industries. Mr. Oldridge has been responsible for the introduction of a number of new EV products to the marketplace, and we believe his experience and product knowledge will propel ADOMANI forward.

 

Received a purchase order in October from the Pittsburg, California Unified School District Child Nutrition Services Department for one all-electric Class 5 box truck. It’s expected that the truck will be delivered in early 2021, and will be in service for the District to deliver food to its schools.

 

In September, we received final Public Benefit Grant Program (the Grant) approval of eligibility for our Pro-Motive, E-Riva Neighborhood Electric vehicle (NEV) sales within the San Joaquin Valley Air Pollution Control District (SJVAPCD). SJVAPCD is made up of 8 counties in California’s Central Valley whose mission is to improve the health and quality of life for all valley residents through its air quality management strategies. Applications for the New Alternative Vehicle Purchase component of the Grant are currently being accepted on a first-come, first-serve basis. The Grant provides a maximum funding of up to $20,000 per vehicle, with a limit of $100,000 per eligible public agency per year.

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The following information was filed by Adomani, Inc. (ADOM) on Thursday, November 12, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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