On Wednesday, Envirotech Vehicles, Inc. (NASDAQ:EVTV) disclosed that it delivered two demonstration electric delivery vans to FedEx Delivery Service Partners, including Dreaming Green Corp. in Connecticut.
These mid-roof electric vans will deliver packages to homes and businesses in Connecticut.
With average gasoline prices in Connecticut exceeding $3.00 per gallon and diesel approaching $3.70, Envirotech's electric delivery vehicles present an appealing option for fleet-reliant businesses.
Dreaming Green Corp.'s owner Nelson Pinhancos said, "We are excited to begin testing the Envirotech electric delivery van. We estimate a monthly savings of $1,800 in fuel and maintenance costs. And the fact we will be generating zero emissions while serving our customers is something we are proud of as a company."
"We expect this test program to be a success. And we look forward to then scaling up our Envirotech electric fleet. Other FedEx DSPs have already shown interest in joining us."
Phil Oldridge, CEO of Envirotech, stated, "Envirotech is proud to serve business owners from California to Connecticut as we help them reduce their operating costs and increase their on-time delivery performance." "First mile, last mile delivery companies know how impactful monthly saving of one to two thousand dollars per vehicle is for their bottom line. And successful deliveries with no emissions are a mark of pride for every owner of an Envirotech vehicle."
This week, Envirotech Vehicles disclosed plans to access $25 million in funding from Yorkville Advisors Global LP.
Price Action: EVTV shares closed higher by 6.67% at $1.44 on Wednesday.
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