Volcon ePowersports Announces $4,200,000 in Reservations and $1,700,000 in Potential Orders for Its Fat-tire Grunt Motorcycle and Begins Shipments to Customers
- Volcon celebrates first customer shipments of Grunt two-wheeled model
- Volcon working to fulfill order queue
- Plans to commence roll out of nationwide dealership network beginning Q4 of 2021
AUSTIN, Texas (October 11, 2021) – Volcon Inc. (NASDAQ: VLCN), the first all-electric, off-road powersports company, today announced that demand for their inaugural vehicle the Grunt, a two-wheeled, all-terrain, off-road motorcycle designed for exploring the outdoors, has reached $1,700,000 in customer orders and up to $4,200,000 in refundable reservations.
As of September 30, 2021, customers have made refundable deposits to reserve 708 Grunts, which if converted to a sale, would result in $4,200,000 of revenue. 277 more customers have fully paid for their Grunt, and when delivered, would result in approximately $1,700,000 of revenue. Customers have the right to request a refund of their reservation deposit at any time, and may request a refund of their fully paid order any time prior to delivery of their order. As the Company has recently commenced deliveries of its vehicles, it does not have historical guidance on the conversion rate of reservations to orders, although it does not expect all reservations to be converted into orders.
The Grunt has been featured in over 1,500 earned media placements and has received more than 32 million media impressions:
- "The Volcon Grunt isn’t your typical motorcycle." - Bloomberg
- "I would have killed for one of these as a kid." - CNET
- "A new American-made off-road experience." - Forbes
- "But the e-motorcycle isn’t just adorable looking, it’s also the perfect way to introduce youngsters to the joys of riding." - Robb Report
- "This new electric motorcycle is a waterproof off-road beast" - Gear Patrol
- “The Volcon Grunt Is a Little, Electric Mountain Goat of a Motorcycle (With a Dumb Name)” - CNET
On September 10, 2021, from their factory facilities near Austin, Texas, shipments commenced to carry out delivery of Grunt models throughout the United States and Latin America to fulfill the pre-order queue that has grown since its launch in late 2020.
Customers from across the United States are taking delivery of their new and innovative fat-tire motorcycles. Throughout the month of October, journalists will begin releasing their independent reviews of the Grunt, informing the public on what to expect when they ride their first Grunt. At the end of the year, Volcon looks to begin shipping the Grunt to retail dealerships in the US once the pre-order queue is completely satisfied.
Volcon electric vehicles provide fun, family-friendly off-road adventures as well as backcountry exploration, in addition to practical utility. Along with the Grunt, the company will continue developing the Runt, a child-friendly, smaller-sized companion to the Grunt, as well as the Stag and the Beast - their four-wheeled, side-by-side UTV models.
Volcon Inc. is the first all-electric, powersports company producing high quality off-road vehicles. Based in Round Rock, Texas, Volcon joins many major electric vehicle manufacturers near Austin, Texas, an area that is poised to become the electric vehicle capital of the world.
Volcon was founded with the mission to enhance the outdoor experience while reducing the industry’s environmental footprint so that adventurers and workers alike can enjoy the outdoors and preserve it for generations to come. Volcon produces all-electric, off-road vehicles that are designed to elevate the adventure experience and help people get things done at work and on the home front.
Volcon’s first product, the innovative Grunt combines a fat tire physique with high-torque electric power and a near-silent drive train which started shipping in September of 2021. Future models include the Runt, which is a youth-sized version of the groundbreaking Grunt. The Stag and Beast will be Volcon’s venture into the rapidly expanding world of UTVs and coming in future years as the company continues to expand.
For more information, please visit www.volcon.com.
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, the ability of the Company to fulfill the pre-order queue for the Grunt, the ability of the Company to convert reservations to orders and the amount of such conversions, and the timing of the Company’s roll out of its retail dealership network. 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.
Released October 11, 2021