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

AUSTIN, Texas - Volcon ePowersports (NASDAQ: VLCN), a micro-cap electric vehicle manufacturer with a market capitalization of $2.48 million, has received a purchase order for 1,000 golf carts from Advanced EV. The order is part of a market test for a new model developed in collaboration with Super Sonic, under a distribution agreement announced in February 2025.

CEO of Volcon, John Kim, expressed enthusiasm 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." He emphasized Volcon’s commitment to providing high-quality products to Advanced EV’s dealer network and customer base.

Advanced EV’s CEO, Birju Patel, echoed this sentiment, highlighting Volcon’s distribution capabilities and responsiveness as key factors in their collaboration.

The deal with Advanced EV marks the second multi-million dollar agreement for Volcon in the last five weeks, indicating a positive growth trajectory for the company. "We’re excited to see the growth trajectory for Volcon and believe this momentum signals a strong future ahead," said Josh Rasmussen, CSO of Volcon.

In addition to this new partnership, Volcon has resumed its share repurchase program, signaling confidence in the company’s financial health and future prospects.

Volcon has been at the forefront of the electric powersports industry since its founding. Its product lineup includes the Grunt and Grunt EVO motorcycles, the Brat eBike, and the MN1 and HF1 LUV/UTV models. These electric vehicles are designed to offer a near-silent, environmentally friendly outdoor experience without compromising on performance.

The company’s progress in the electric vehicle market and its recent strategic partnerships are based on a press release statement and reflect its ongoing commitment to innovation and growth in the powersports industry.

In other recent news, Volcon Inc. reported its financial results for the first quarter of 2025, showing a revenue of $736,049 and a net loss of $2,460,430. The company is also evaluating the impact of tariffs on its products manufactured in China and Vietnam, considering strategies such as U.S. assembly or passing costs to consumers. Additionally, Volcon announced a $2 million share buyback plan, reflecting a strategic move to potentially increase earnings per share and shareholder value. This buyback is expected to run until March 2026, with flexibility for the company to adjust based on market conditions.

In another development, Volcon signed a significant supply agreement with Venom-EV, involving the procurement of up to $3 million worth of golf carts. This agreement includes an equity component where Volcon will issue shares to Venom based on unit purchases. The initial order from Venom totals $2.36 million for 500 vehicles, signaling a promising partnership. Furthermore, Volcon’s recent amended agreement with Venom-EV adjusts payment terms and revenue percentages for golf cart orders, enhancing their existing collaboration. These developments illustrate Volcon’s strategic efforts to navigate market challenges and expand its product offerings.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.