Envirotech Vehicles Inc's Business Segments

Envirotech Vehicles Inc (EVI) is a leading manufacturer of electric vehicles and provider of alternative energy solutions. The company is committed to producing advanced, eco-friendly transportation options that help reduce dependence on fossil fuels and mitigate the environmental impact of traditional vehicles.

EVI was founded in 2003 and is headquartered in Stockton, California. With over 15 years of experience in the industry, the company has established itself as a trusted name in the field of electric vehicles. EVI's mission is to develop innovative and efficient transportation solutions that promote sustainability and contribute to a greener future.

The company's product portfolio includes a range of electric vehicles, primarily focused on electrifying commercial fleets. EVI offers electric trucks, vans, and buses that are equipped with advanced technologies to maximize efficiency and performance. These vehicles are designed to meet the unique needs of various industries, including delivery and logistics, municipalities, public transportation, and emergency services.

EVI's electric vehicles are powered by advanced battery systems, which offer enhanced energy storage and longevity. The company utilizes lithium-ion battery technology, known for its high energy density and longer lifespan compared to traditional lead-acid batteries. This enables EVI's vehicles to have longer operational ranges and reduced downtime for charging.

To support the transition to electric vehicles, EVI provides a comprehensive suite of services, including charging infrastructure development, fleet management solutions, and maintenance support. The company works closely with its customers to assess their specific requirements and develop customized solutions to optimize their electric fleets.

One of EVI's notable achievements is its partnership with the CARB (California Air Resources Board) Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). By participating in this program, EVI offers customers substantial incentives to purchase its electric vehicles, making them more accessible and cost-effective.

Furthermore, EVI is committed to ongoing research and development to keep pushing the boundaries of electric vehicle technology. The company invests in innovation, leveraging the latest advancements in battery technology, connectivity, and autonomous driving to enhance the performance and capabilities of its vehicles.

In addition to its focus on electric vehicles, EVI also explores other alternative energy solutions. The company offers renewable energy systems, such as solar panels and wind turbines, which enable customers to generate clean energy and further reduce their carbon footprint.

Overall, Envirotech Vehicles Inc stands as a pioneering force in the electric vehicle industry, providing cutting-edge solutions to promote sustainable transportation. With its extensive experience, commitment to innovation, and comprehensive range of services, EVI continues to drive the transition towards a cleaner, greener future.

The registrant operates three reportable business segments: 1) Electric Vehicle (EV) segment: This segment serves commercial and last-mile fleets, school districts, public and private transportation service companies, and colleges and universities. It offers light to heavy-duty EVs, including Class 2 through 4 logistics vans, Class 4 through 5 urban trucks, school buses, electric forklifts, street sweepers, neighborhood EVs, and right-hand drive vans and urban trucks. These vehicles are manufactured by original equipment manufacturers (OEMs) in China, Taiwan, and Malaysia and are marketed, sold, warrantied, and serviced through a developing distribution and service network. 2) Medical supplies segment: Operated through the wholly owned subsidiary Maddox Industries, LLC, this segment manufactures medical supplies distributed by Maddox Medical Corp. to government agencies, healthcare systems, and institutional customers requiring domestically manufactured products. Established following the acquisition of Maddox Industries in late 2024, the segment supports U.S.-based manufacturing, supply chain resiliency, and government procurement requirements. It produces medical supplies, including protective apparel, using semi-automated manufacturing systems compliant with regulatory and contractual standards. The segment supports healthcare, emergency response, and government stockpile applications. While not the primary long-term growth focus, it provides operational experience and manufacturing credentials for the federal government. 3) Drone segment: This segment focuses on developing heavy-lift, industrial-grade drone platforms for agricultural, fire suppression, and forestry applications. Target customers include commercial agricultural operators, farming cooperatives, forestry managers, and public-sector entities. The segment is designing a high-payload agricultural drone for precision agriculture, fire suppression, and forestry use. Drone products are intended to be manufactured in the U.S., subject to development progress, regulatory approvals, and manufacturing readiness. The segment is evaluating advanced technologies such as geospatial mapping, coordinated multi-drone operations, and AI-enabled sensing and analytics. Commercial manufacturing and sales have not yet commenced. In the first quarter of 2025, the registrant acquired a 52% equity interest in AG Drone Inc.