Volcon receives 1,000-unit golf cart order from Advanced EV

AUSTIN, TX - Volcon ePowersports (NASDAQ:VLCN), a micro-cap electric vehicle manufacturer currently valued at $2.48 million, has announced receiving a significant purchase order from Advanced EV for 1,000 golf carts. According to InvestingPro data, the company’s stock has seen significant volatility, declining nearly 87% over the past six months. This order marks a pivotal move for Volcon as it initiates market testing of a newly developed golf cart model, in collaboration with Super Sonic, under a distribution agreement announced in February 2025.

The order from Advanced EV, a company specializing in electric vehicles, is a strategic step to gauge the market’s response to the new model and explore a potential broader relationship between the two companies. InvestingPro analysis shows Volcon maintains a strong liquidity position with a current ratio of 5.09, holding more cash than debt on its balance sheet. John Kim, CEO of Volcon, expressed optimism about the partnership, stating, "We’re excited to supply Advanced EV with this test order and see it as a strong foundation for future collaboration."

Advanced EV’s CEO, Birju Patel, reciprocated the sentiment, emphasizing the value of Volcon’s distribution capabilities and agility in responding to market needs. Josh Rasmussen, CSO of Volcon, highlighted the order as the second multi-million-dollar deal in the last five weeks, suggesting a positive growth trajectory for the company.

In addition to this announcement, Volcon has resumed its share repurchase program, which could signal confidence in the company’s future prospects, despite challenging financial metrics. Recent InvestingPro data reveals revenue of $3.74 million in the last twelve months, with a revenue growth rate of 19.71%.

Volcon, based in the Austin area, has been at the forefront of producing high-quality and sustainable electric vehicles for the outdoor community since its inception. The company’s product lineup includes electric motorcycles, UTVs, and the recently introduced eBike, the Brat. Their vehicles, recognized for near-silent operation and environmental benefits, have been gaining traction in the market, with the Grunt EVO shipping to customers since October 2023 and the MN1 unit since October 2024.

The information provided in this article is based on a press release statement and reflects the company’s current expectations and projections about future events. It is important to note that forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements. According to InvestingPro’s Fair Value analysis, Volcon currently appears undervalued, though investors should note the company’s weak financial health score of 1.36 out of 5.

In other recent news, Volcon Inc. has reported its first-quarter financial results, revealing a revenue of $736,049, which marks a decrease from previous quarters. The company noted a net loss of $2,460,430 for the quarter, though this represents an improvement from the net losses in the latter part of 2024. Additionally, Volcon secured a significant order for 1,000 golf carts from Advanced EV, signaling a positive growth trajectory. The company also entered into a supply agreement with Venom-EV, with an initial order of 500 vehicles valued at $2.36 million. In a strategic move, Volcon has authorized a $2 million share repurchase program, set to run until March 2026, indicating confidence in its financial health. The company is also evaluating the impact of increased tariffs on imports from China and Vietnam, exploring options to mitigate these costs. Furthermore, Volcon announced new appointments to its board committees, with Karin-Joyce Tjon and Jonathan Foster taking on key roles. These developments reflect Volcon’s ongoing efforts to strengthen its market position and adapt to changing economic conditions.

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