Volcon Obtains Pre-Orders that Sells Out Entire 2023 Forecast; $100M+ of Potential Revenue
AUSTIN, TX / ACCESSWIRE / August 19, 2022 / Volcon Inc. (NASDAQ:VLCN), ("Volcon'' or the "Company"), the first all-electric, off-road powersports company, announced today that it has received over $100 million of pre-production orders for its first all-wheel drive, fully electric UTV, the Stag, powered by General Motors electric propulsion system technology.
Over 90% of the pre-production orders have come from Volcon's domestic and international dealer network. Pre-production orders are non-binding and if ultimately finalized, would result in more than $100 million worth of revenue for the company following delivery.
"Stag pre-orders have surpassed our 2023 sales forecast, with dealer demand remaining prevalent following our June 27, 2022 dealer launch. While we firmly believed we would achieve our pre-production sales targets, we have been pleasantly surprised at the pace at which we achieved our goals," said Jordan Davis, Chief Executive Officer. "Although our current focus is squarely on our goal of finalizing development of the Stag and moving into full production by Q2 2023, we will now turn additional attention and resources towards increasing our component supply and manufacturing output."
With an MSRP of $39,999, dealers were required to submit purchase orders directly through Volcon's sales representatives. While pre-production orders have surpassed 2023 production targets, the Company will begin planning the expansion of its supply and production capabilities in collaboration with General Motors, which may help to meet demand in 2023 and beyond. Volcon will continue to accept orders from dealers, as well as additional consumer reservations, via a waitlist.
Visit, https://www.volcon.com/stag for more product details and to make a reservation for a Volcon Stag.
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.
For more information on Volcon or to learn more about its complete motorcycle and side-by-side line-up, visit: www.volcon.com
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.
SOURCE: Volcon ePowersports, Inc.
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Released August 19, 2022