ev Transportation Services Inc. CEO Discusses Outlook for 2021 and Developments to Watch in the Electric Vehicle Space
NEW YORK, Jan. 21, 2021 (GLOBE NEWSWIRE) — via NetworkNewsAudio — ev Transportation Services Inc. (“evTS”) today announces that the company’s founder and chief executive officer, David Solomont, has been featured in an exclusive audio interview with NetworkNewsWire (“NNW”), a financial news and content distribution company and one of 50+ brands in the InvestorBrandNetwork (“IBN”). During the interview, Solomont gave an overview of evTS, the company’s outlook for the coming 12 months and his view on the future of the electric vehicle space.
Solomont began with background on the company, a maker of electric utility vehicles, and described the target market for the company’s lead product, the FireFly ESV.
“We’re a specialty vehicle manufacturer. We produce purpose-built, all-electric lightweight commercial utility vehicles and provide fleet management solutions. The first and primary market for our vehicle is what we call essential services. These are applications you don’t usually think about, like security patrol, parking enforcement, parks and recreation, airports and seaports, universities, corporate campuses, warehouse fulfillment and military bases.”
Solomont noted that evTS was able to continue moving forward during 2020 despite the business challenges of the past year. He expects 2021 to be a profitable year for the company, which is already delivering demo vehicles to its dealers.
“Dealers are incredibly important, because they’re the ones who have the tightest relationships with customers and prospects. By the end of the first quarter, we want to expand our dealer network from four dealers to eight, all carefully chosen,” he said. “We also plan to launch our evTaaS program – ev Transportation as a Service – to the on-demand, last-mile urban delivery market. And we expect to begin assembly and distribution in our first overseas market, most likely the UK.”
Solomont closed with his outlook for the future of the electric vehicle sector, which he described as still at the inception stage. He forecast that a tipping point in terms of consumer acceptance is on the horizon, but probably is still a few years away.
“The area to watch is really battery technology,” he said. “We won’t really hit the tipping point for EV sales until battery technology can enable electric vehicles to achieve 500 miles between charges and the price of an electric vehicle, which is driven substantially by battery costs, is equal to or less than the price of an internal-combustion-engine-powered vehicle. I think the key to battery technology is solid state batteries. This is something we’re going to see in the next two to three years.”
ev Transportation Services Inc. (“evTS”) is a specialty vehicle manufacturer that produces purpose-built, all-electric, lightweight commercial utility vehicles and provides fleet management solutions. The Boston-based company is currently focused on the essential services transportation and urban mobility markets, which represent an annual domestic replacement market of approximately 100,000 vehicles, or roughly $2.5 billion annually. End user applications for the company’s vehicles include parking management, security and perimeter patrol, parks and sidewalk maintenance, utility meter reading, property and building management, airports, seaports, sanitation, university and corporate campuses, and last mile, on-demand urban delivery.
For more information, visit the company’s website at www.evts.com .
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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.