HOUSTON, June 24, 2025 /PRNewswire/ -- Envirotech Vehicles, Inc. (NASDAQ: EVTV) ("Envirotech") today announced its bold vision to lead the future of electric mobility by integrating sustainable, American- assembled solutions across land, air, and sea, tapping into multiple multi-billion-dollar end markets. As global demand for alternatives to carbon-heavy infrastructure continues to accelerate, Envirotech believes that it is well-positioned to deliver a unified ecosystem, driving clean-energy solutions in a ...

Financial Data and Key Metrics Changes - Net revenue for Q1 2025 was USD 657 million, a 150% increase year over year and largely in line with Q4 2024 [27] - Cost of goods sold for the quarter was USD 888 million, an increase of 113% year over year and down 25% quarter over quarter [27] - Q1 2025 gross margin was -35%, an improvement from -59% in the same period last year [27] - Net loss for the quarter was USD 712 million, with a net loss margin of -109%, compared to -226% in Q1 2024 [30] Business Line Data and Key Metrics Changes - In Q1 2025, VinFast delivered 36,330 electric vehicles, representing a 296% increase year over year and a 32% decline quarter over quarter [7] - Two-wheeler deliveries reached 44,904 units, marking a 473% year over year increase and a 44% rise quarter over quarter [8] - B2C deliveries accounted for over 70% of total sales for three consecutive quarters through Q1 2025 [9] Market Data and Key Metrics Changes - In Vietnam, VinFast's market share of overall auto sales increased to nearly 40% in Q1 2025 from approximately 20% last year [15] - EV penetration in Vietnam reached nearly 40% in Q1, while BEV adoption in Indonesia was 7% and 3% in The Philippines [11] - Vietnam led Southeast Asia in automotive sales growth with a 24% year over year increase [15] Company Strategy and Development Direction - VinFast aims to double vehicle deliveries in 2025 and maintain strong momentum into 2026 [39] - The company is transitioning from a direct-to-consumer model to a dealer-based model to enhance efficiency [28] - New vehicle platforms and EE architecture are expected to drive long-term cost savings and operational efficiency [26][22] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about improved operating leverage driven by economies of scale [6] - The company is focused on scaling operations, accelerating product development, and executing cost optimization to achieve profitability [39] - Management acknowledged the challenges posed by global macroeconomic and trade uncertainties but remains committed to growth [7] Other Important Information - CapEx for Q1 2025 was USD 147 million, down 24% year over year and 40% quarter over quarter [30] - As of May 31, liquidity stands at approximately USD 2.4 billion, including various loans and grants [32] Q&A Session Summary Question: Timeline on new factories in Vietnam, India, and Indonesia - All facilities in Asia are expected to start operations this year, with the India factory opening in July [36] Question: Key catalysts for investors in 2025 - Growth will be driven by deeper market penetration in key international markets and new product offerings [39] Question: Timing of CapEx and when it might peak - Total CapEx planned for 2025 is USD 800 million, with over 50% allocated to R&D [44] Question: Expansion into the bus market - Deliveries of buses have already started in Vietnam, with plans to expand into other markets [46] Question: Average selling price (ASP) trajectory for the rest of the year - ASP for Q1 2025 was around USD 15,000, expected to remain under USD 20,000 for the full year [49] Question: Variable margin versus fixed costs in production - Variable costs are being optimized, with expectations for improvements in gross margin by 2026 [51] Question: Rationale for closing B2C showrooms in North America and Europe - Transitioning to a dealership model to enhance efficiency and scale globally [61] Question: Liquidity status - Total cash burn for 2025 is expected to be around USD 2 billion to USD 2.5 billion [64]

WINNIPEG, Manitoba, May 12, 2025 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (NFI) a leader in propulsion-agnostic bus and coach mobility solutions, is pleased to announce that the ten nominees listed in the management information circular dated March 21, 2025, were elected as directors of the Board at the Company’s annual and special meeting of shareholders (the Shareholder Meeting) held on Friday May 9, 2025. The detailed results of the vote for the election of directors held at ...

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