Financial Performance - The company reported net losses of $43.8 million for the year ended December 31, 2022, compared to a net loss of $7.7 million in 2021, which included a non-cash goodwill impairment charge of $37.1 million[17]. - For the years ended December 31, 2022 and 2021, the company incurred net losses of $44.1 million and $7.7 million, respectively, with the 2022 loss including approximately $39.4 million of non-cash expenses[119]. - As of December 31, 2022, the company had working capital of approximately $16.9 million and an accumulated deficit of approximately $52.2 million[119]. - The company did not generate significant revenues for the years ended December 31, 2022 and 2021, partly due to COVID-19 restrictions and the absence of HVIP funding available to customers[116]. - The company anticipates that operating expenses will increase significantly in the foreseeable future as it expands its business model and develops new products[120]. - The company has a history of losses and may not achieve or sustain profitability in the future due to anticipated increases in operating expenses[118]. Market and Industry Trends - According to the International Energy Agency, global electric vehicle sales reached approximately 6.6 million units in 2021, representing just under 10% of total vehicle sales[22]. - Electric trucks accounted for only 0.3% of global truck sales in 2021, with China representing 90% of new electric truck registrations[26]. - The U.S. is projected to need 2.13 million Level 2 and 172,000 Level 3 EV chargers by 2030, a significant increase from current levels[24]. - Anticipated increased demand for alternative fuel vehicles is expected to intensify competition in the industry[136]. - Demand volatility in the zero-emission electric vehicle industry may adversely affect operating results, particularly for a low-volume producer like the company[140]. Government Regulations and Incentives - The Infrastructure Bill includes $7.5 billion to build a national network of 500,000 chargers by 2030, supporting the deployment of EV infrastructure[25]. - Federal tax credits for electric vehicles include $7,500 for vehicles under 14,000 lbs and up to $40,000 for commercial vehicles over 14,000 lbs[42]. - California has set a target for a 100% ban on the sale of internal combustion engines for passenger cars and pickup trucks by 2035, with similar bans for medium- and heavy-duty trucks to follow[43]. - The EPA has committed to distributing $5 billion over five years via the Clean School Bus Program, with approximately $1 billion allocated in 2022 and expected again in 2023[37]. - The HVIP program allocates over $1.7 billion for Clean Transportation Incentives, with zero-emission Class 3 trucks eligible for up to $45,000 per vehicle[76][77]. Company Strategy and Operations - The company focuses on zero-emission electric vehicles, serving commercial and last-mile fleets, with offerings including electric Class 4 logistics vans and urban trucks[14]. - The company aims to address the challenges of traditional fuel price instability and environmental regulatory compliance through its electric vehicle offerings[14]. - The company plans to expand its manufacturing capabilities in Osceola, Arkansas, to produce vehicles domestically in 2023[49]. - The company is actively seeking partnerships for sales, service, and support to enhance its market presence[49]. - The company aims to reduce total cost of ownership by providing zero-emission electric vehicles that lower fuel and maintenance costs[46]. Supply Chain and Manufacturing Challenges - The company relies on third parties for timely delivery of raw materials and components, and any disruptions could adversely affect its operations[1]. - The company is heavily reliant on third-party suppliers for critical components such as batteries, traction motors, and power electronics, which exposes it to supply chain disruptions and price volatility[157]. - The company does not maintain long-term agreements with suppliers, which increases exposure to price fluctuations and availability issues for essential materials[160]. - The company is actively seeking new suppliers and negotiating cost reductions to manage supplier costs and mitigate future increases[165]. - The ability to scale manufacturing processes effectively is critical, and any failure to do so could adversely affect production volumes and quality[177]. Competition and Market Risks - The company faces substantial competition from established players like Ford, Tesla, and General Motors, which have greater financial resources and market recognition[135]. - Factors affecting competition include product quality, pricing, and customer service, with increased competition potentially leading to lower vehicle unit sales and revenue[137]. - Current costs for commercial zero-emission electric vehicles are higher than those for gas or diesel vehicles, affecting competitiveness[148]. - Extended periods of low petroleum prices could reduce demand for zero-emission vehicles, adversely impacting business prospects[145]. - The sales cycle for the company is long and unpredictable, making revenue generation difficult to project[142]. Legal and Regulatory Risks - The company faces substantial regulatory risks, including evolving regulations related to electric vehicles and lithium-ion batteries[195]. - The company relies on intellectual property laws to protect its proprietary technology, but the effectiveness of these measures may be inadequate[201]. - Legal proceedings could result in substantial liabilities, impacting the company's business operations and financial condition[206]. - The company may face significant costs due to potential infringement claims related to intellectual property rights, which could adversely affect its financial results[204]. Environmental and Safety Considerations - Environmental laws and regulations could impose substantial costs and cause delays in opening sales and service facilities[199]. - Compliance with safety regulations may be costly and challenging, impacting the company's operational efficiency[182]. - The company provides a three-year warranty on parts and workmanship and a five-year warranty on powertrain and batteries for zero-emission electric products[184]. - The company relies on lithium-ion battery packs in its electric vehicles, which pose safety risks that could lead to liability and adverse publicity[208].

Envirotech Vehicles, Inc. (NASDAQ:EVTV) Q3 2022 Earnings Conference Call November 15, 2022 8:30 AM ET Company Participants Eduardo Royes - Managing Director, ICR Phillip Oldridge - Chief Executive Officer Christian Rodich - Chief Financial Officer Susan Emry - Executive Vice President Conference Call Participants Operator Good day, ladies and gentlemen, and welcome to Envirotech Vehicle Incorporated Third Quarter 2022 Earnings Call. All lines have been placed in a listen-only mode and the floor will be open ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |------------------------------------------------------------------------------------------------------------|------------------------------------------------ ...

Envirotech Vehicles, Inc. (NASDAQ:EVTV) Q2 2022 Earnings Conference Call August 15, 2022 5:00 PM ET Company Participants Jane Belodeau – Vice President, IMS Investor Relations Christian Rodich – Chief Financial Officer Phillip Oldridge – Chief Executive Officer Conference Call Participants Craig Irwin – ROTH Capital Partners Steve Bokor – PI Financial Corp Dave Hammond – Private Investor Operator Good day, ladies and gentlemen, and welcome to your Envirotech Vehicle Incorporated Second Quarter 2022 Earnings ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38078 ENVIROTECH VEHICLES, INC. (Exact name of registrant as specified in its charter) Delaware 46-0774222 (State or othe ...

Envirotech Vehicles, Inc. (NASDAQ:EVTV) Q1 2022 Earnings Conference Call May 16, 2022 5:00 PM ET Company Participants Phillip Oldridge – Chairman and Chief Executive Officer Susan M. Emry – Executive Vice President Christian S. Rodich – Chief Financial Officer Jennifer Belodeau – IMS Investor Relations Conference Call Participants Frank Jones – Barlow Capital Operator Good day, ladies and gentlemen, and welcome to Envirotech Vehicle, Inc. First Quarter 2022, Earnings Call. All lines have been placed in a li ...

Table of Contents Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $0.00001 per share EVTV OTC Markets Group Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |----------------------------------------------------------------------------|-------------------------------------------------| | For the transition period from __________t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |---------------------------------------------------------------------------------------|-----------------------------------------------------| | | | | For the transition period from ____ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-38078 ADOMANI, INC. (Exact name of registrant as specified in its charter) Delaware 46-0774222 (State or other jur ...