Envirotech Vehicles Inc. announced Friday that renovating its Osceola plant will cost more than $80 million and that Olympus Construction of Jonesboro will lead the project.
The publicly traded electric vehicle maker said that investment will not only cover building upgrades but also machinery and other equipment needed to transform the plant into a full manufacturing operation.
Envirotech bought the 580,000-SF building at 1425 Ohlendorf Road from the city in February. It has since been used for the final outfitting and shipment of the company’s imported vehicles.
CEO Phillip Oldridge said in a news release that, since announcing the company’s relocation to Osceola in February, it has spent more than $100,000 per quarter supporting local businesses and community organizations. “This partnership [with Olympus] is just the beginning as we continue to bring greener technologies and opportunities to Arkansas," he said.
Executive Vice President Susan Emry added that the company believes this is the first of many partnerships with local vendors that it will announce.
Olympus, established in 1981, is a full-service, family-owned construction company that has worked on projects in Arkansas, Missouri, Mississippi and Tennessee. President and Owner Tony Pardew said in the release that his firm and Envirotech share a commitment to investing in innovative technology as well as the community.
In other news this week, Envirotech has delivered two class 4 logistics vans to the Newark Public Library, which was awarded a $150,000 voucher for their purchase in October through the New Jersey Zero Emissions Program.
Emry said in a release that the company had seen “significant interest in green transportation” from that state in conjunction with that program.
