Envirotech Vehicles Inc. of Osceola announced Thursday a partnership with Strategic EV Solutions, an affiliate of electrical solutions provider Curtis Stout Inc. of Little Rock, to help the electric vehicle maker make inroads into the Midsouth market.
Envirotech (NASDAQ: EVTV) announced last February that it would open its first U.S. manufacturing plant in Osceola and relocate its California headquarters there. Envirotech makes and provides all-electric, zero-emission vehicles and zero-emission drive trains for medium to heavy-duty commercial fleet vehicles.
The partnership with Strategic EV Solutions will help Envirotech expand its sales in Arkansas, Texas, Oklahoma, Tennessee, Louisiana, Mississippi, Alabama and Florida, an Envirotech news release said.
The experience of Strategic EV Solutions' affiliate Curtis Stout in the electrical industry is one factor for the partnership, Sue Emry, Envirotech's executive vice president, said. She also said the company has prioritized forging partnerships in Arkansas since relocating here.
"They [Curtis Stout] are an electrical company so while you have a lot of new players in this space, you want companies that are tried and true," Emry told Arkansas Business. Emry said Strategic EV Solutions is expanding electric vehicle charging infrastucture in a number of states, helping Envirotech make inroads with potential customers.
Envirotech’s 2022 third quarter sales totaled $3.9 million compared to about $709,000 in sales over the same period in 2021, according to SEC filings. Net income for the third quarter was $126,749, up from a net loss of $850,475 in the previous third quarter.
"Finding the most impactful go-to-market partners when selling EVs is critical to the success of a company as it looks to scale up," Phillip Oldridge, Envirotech's CEO, said in a statement. "All of us at EVTV are thrilled to be partnering with an established Arkansas company that, through its rich history, has developed a wide network across the mid-South that we plan to tap into to get our vehicles on the road in these markets."
