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GARLAND, Texas - Massimo Group (NASDAQ:MAMO), a $122.6 million market cap powersports manufacturer with annual revenues of $96 million, announced Thursday it will begin receiving shipments of new six-seater golf carts from a manufacturing partner in Vietnam, supplementing production at its Garland, Texas facility.
The company said the Vietnam production partnership is part of its supply-chain diversification strategy aimed at improving cost efficiency and quality control. The expansion is expected to enhance logistics through streamlined ocean routes and port diversification, potentially reducing freight variability and lead times.
"Our Vietnam production partnership is a major win for Massimo Group and everyone we serve," said David Shan, CEO of Massimo Group, in a press release statement. The announcement comes as the company’s stock has shown strong momentum, gaining over 18% in the past week. According to InvestingPro, the company maintains healthy liquidity with a current ratio of 1.79.
The new six-seater model, called the MVR4X, features a 48V 5KW AC motor with a 60km driving range and McPherson independent suspension. The vehicle includes a steel chassis with rust resistance treatment, front disc and rear drum brakes with electromagnetic assistance, and 14-inch aluminum rims.
Massimo Group manufactures powersports products including UTVs, ATVs, and mini bikes. The company did not specify the exact timeline for when the Vietnam-manufactured golf carts would arrive in the U.S., only indicating shipments are scheduled to begin "in the near term."
The company said the Vietnam partnership is part of a broader global production realignment strategy intended to protect against supply chain disruptions while supporting growth opportunities. Based on InvestingPro’s analysis, Massimo Group is currently trading above its Fair Value, with 8 additional key insights available to subscribers, including detailed valuation metrics and growth indicators.
In other recent news, Massimo Group has announced a strategic shift to nearshoring its manufacturing operations. The company is establishing new production facilities closer to its primary markets in North America. This decision comes in response to ongoing global supply chain challenges and tariff pressures affecting businesses worldwide. By moving its manufacturing operations closer to home, Massimo Group aims to mitigate shipping risks and enhance lead times. The company expects this change to offer better control over quality assurance and inventory management. These adjustments are anticipated to improve gross margins and working capital. Additionally, Massimo believes that this strategy will help protect shareholder value.
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