Volcon Stag Manufacturing Update December 2023
December 22 2023 - 9:27AM
Volcon Inc. (NASDAQ: VLCN) (“Volcon” or the “Company”), the first
all-electric, off-road powersports company, today provided an
important update and clarification regarding the development of its
eagerly anticipated Stag model.
While we previously announced challenges related to supply chain
issues, we wish to clarify that these challenges are specifically
limited to two components. The focus of our attention is on two
modules that require minor software and hardware updates. Following
completion of the applicable updates, we will enter into a short
term testing phase to ensure proper operation. Our team is
diligently updating and verifying the software associated with
these components to ensure they meet our uncompromising standards
for quality and performance.
We are pleased to report that the remaining componentry of the
Stag is in order, with componentry either on site or in route for
production. Our manufacturer’s facility is primed and ready to
commence the manufacturing of the vehicles for commerce as soon as
the EPM and APM are functioning optimally.
In line with our commitment to excellence and national service,
the initial shipments of the Stag will be dedicated to fulfilling
our orders with the U.S. Army Corps. We believe this underscores
our product's robustness and suitability for demanding
applications. Following the fulfillment of this contract, we will
begin distribution to the broader public.
We are confident in our timeline and anticipate initiating
shipments in the first quarter of 2024. This schedule is informed
by the estimated timeline for testing and validation of the EPM and
APM, and reflects our commitment to deliver a product that not only
meets but exceeds expectations in the evolving landscape of
electric powersports.
Volcon remains steadfast in its mission to revolutionize
electric off road mobility, and we appreciate the patience and
support of our customers and stakeholders as we approach this
exciting milestone.
About Volcon, Inc
Based in the Austin, Texas area, Volcon was founded as the first
all-electric power sports company producing high-quality and
sustainable electric vehicles for the outdoor community. Volcon
electric vehicles are the future of off-roading, not only because
of their environmental benefits but also because of their
near-silent operation, which allows for a more immersive outdoor
experience.
Volcon's vehicle roadmap includes both motorcycles and UTVs. Its
first product, the innovative Grunt, began shipping to customers in
late 2021 and combines a fat-tired physique with high-torque
electric power and a near-silent drive train. The Volcon Grunt EVO,
an evolution of the original Grunt with a belt drive, an improved
suspension, and seat, began shipping to customers in October 2023.
Volcon will also offer the Runt LT, a fun-sized version of the
groundbreaking Grunt, better suited for small-statured riders, more
compact properties and trails, or as a pit bike at race events,
while still delivering robust off-road capabilities. The Brat is
Volcon’s first foray into the wildly popular eBike market for both
on-road and off-road riding and is currently being delivered to
dealers across North America. Volcon is also currently delivering
the Volcon Youth Line of dirt bikes for younger riders between the
ages of 4 to 11. Volcon debuted the Stag in July 2022 and entered
the rapidly expanding UTV market and previously announced that it
expects to begin shipping the Stag to customers in the fourth
quarter of 2023, which has been delayed as noted above. The Stag
empowers the driver to explore the outdoors in a new and unique way
that gas-powered UTVs cannot. The Stag offers the same thrilling
performance of a standard UTV without the noise (or pollution),
allowing the driver to explore the outdoors with all their
senses.
Volcon Contacts:
For Media: media@volcon.comFor
Dealers: sales@volcon.comFor Investors:
investors@volcon.com
Volcon Products:Volcon
Stag: https://www.volcon.com/stagVolcon
Brat: https://www.volcon.com/bratVolcon
Grunt: https://www.volcon.com/grunt-evoVolcon
Runt: https://www.volcon.com/runt-ltVolcon Youth
Line: https://www.volcon.com/youth
Forward-Looking Statements
Some of the statements in this release are forward-looking
statements, which involve risks and uncertainties. Forward-looking
statements in this press release include, without limitation, when
the Company can complete the testing of the EPM and APM to begin
production of the Stag, and whether production of the Runt LT will
occur. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable as of
the date made, expectations may prove to have been materially
different from the results expressed or implied by such
forward-looking statements. The Company has attempted to identify
forward-looking statements by terminology including ''believes,''
''estimates,'' ''anticipates,'' ''expects,'' ''plans,''
''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,''
''might,'' ''will,'' ''should,'' ''approximately'' or other words
that convey uncertainty of future events or outcomes to identify
these forward-looking statements. These statements are only
predictions and involve known and unknown risks, uncertainties, and
other factors. Any forward-looking statements contained in this
release speak only as of its date. The Company undertakes no
obligation to update any forward-looking statements contained in
this release to reflect events or circumstances occurring after its
date or to reflect the occurrence of unanticipated events. More
detailed information about the risks and uncertainties affecting
the Company is contained under the heading “Risk Factors” in the
Company’s Annual Report on Form 10-K and subsequently filed
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K
filed with the SEC, which are available on the SEC’s website,
www.sec.gov.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/fcccda5f-a21d-4f6d-8c57-4b5db5a2f394
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