Volcon ePowersports Expands Revenue Stream, Signs Exclusive Distribution Agreement with Torrot Electric Europa SA
Volcon to distribute Torrot’s line of electric off-road motorcycle products throughout Latin America, South America, and the Caribbean Region
Round Rock, Texas USA, May 24, 2022 (GLOBE NEWSWIRE) -- Round Rock, TX | May 24, 2022: Earlier this month, Volcon Inc. (NASDAQ: VLCN), (“Volcon” or the “Company”), signed an exclusive distribution agreement with Torrot Electric Europa SA, (“Torrot”), to distribute Torrot’s line of electric off-road motorcycle products throughout Latin America, South America, and the Caribbean Region (“LATAM”). This agreement is expected to provide Volcon with an immediate opportunity to improve revenue and profitability by selling quality, “off-the-shelf” products throughout Volcon’s existing and expanding LATAM dealer and distributor network.
“Working with Torrot has been a great experience thus far. We've quickly identified several opportunities, with the most obvious being the ability to distribute the Torrot lines of products in our existing Latin American, South America, and Caribbean markets," explained Jordan Davis, CEO of Volcon ePowersports. “This agreement will create opportunities to quickly realize additional revenue with little to no additional overhead as we are able to utilize our existing resources and the expert sales and logistics teams that are already in place at Volcon.”
Torrot manufactures electric motorcycles focused exclusively on young riders ages 3 to 11. Products are produced in their factory located in Salt, Spain where they also manufacture the brand Rieju motorcycles which are known as high-end, quality motocross bikes. The Torrot lineup consists of six options for young riders including motocross, trial, and supermotard versions.
“We are happy to have the opportunity to work with Volcon ePowersports. Our companies are well aligned with many evident synergies and we share a similar customer base which has made the process of integrating our teams swift and smooth. We are confident that Volcon will help us expand our brand and sales presence in these new markets and effectively reach new customers,” explained John Dixon, CEO of Torrot Electric Europa SA
Cristian Liani, Volcon ePowersports, Latin American Sales Manager notes, “Our existing network in Latin America, South America, and the Caribbean is the ideal setup to distribute Torrot products. We currently have a solid foundation in place to seamlessly and rapidly introduce the Torrot lineup to the LATAM market thanks to our strong list of distributors in the region currently distributing our Volcon products. The Volcon team is excited and prepared to take on this new opportunity”.
Logistics are already underway as Volcon integrates Torrot products into their LATAM distribution process. Volcon and Torrot have also begun making plans to work together to execute and enhance marketing efforts in the new markets as they support dealers and distributors in reaching new consumers in these markets which open vast new sales opportunities for both companies.
About Torrot Electric Europa SA
Founded in Vitoria by Don Luis Iriondo in 1948, Torrot got its start manufacturing sturdy touring and road bicycles. In the 1950s, Don Luis reached a license manufacturing agreement to make the mopeds and motorcycles for the famous French brand Dijon-Terrot, creating Terrot S.A.E.
In the 1970s, Torrot not only manufactured good, popular motorcycles like the Mustang and the TT, powered by Sachs engines, the outcome of a new alliance, it also started to manufacture such popular bicycles as the Cross MX in “summer blue” (the forerunner of today’s mountain bikes).
From 2017 Torrot focused 100% of its model range on electric. Current models are all 3rd and 4th generation proven products.
About Volcon, Inc
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 designed to elevate the adventure experience and help people get things done at work and on the home front.
Volcon Contacts
For Media: media@volcon.com
For Dealers: dealers@volcon.com
For Investors: investors@volcon.com
For Marketing: marketing@volcon.com
For more information on Volcon or to learn more about its complete motorcycle and side-by-side line-up, visit: www.volcon.com
Forward-Looking Statements
Some of the statements in this release are forward-looking statements, which involve risks and uncertainties. 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 filed with the SEC, which are available on the SEC’s website, www.sec.gov.
Attachment
Gina D'Ambrosio Volcon ePowersports gina@volcon.comSource: Volcon ePowersports
Released May 24, 2022