Latest news with #VolconePowersports
USA Today
28-05-2025
- Automotive
- USA Today
Volcon ePowersports Obtains Floor Plan Program with Dealer Direct Financing
Volcon ePowersports (Nasdaq:VLCN) ('Volcon' or the 'Company'), the first all-electric, off-road powersports company, is pleased to announce the launch of a new floor plan financing and retail financing program provided by Dealer Direct Financial, a department of First Community Bank. This initiative will enable Volcon's network of dealers to finance their inventory purchases, providing them with enhanced access to the Company's groundbreaking electric off-road vehicles. The floor plan will provide flexible financial solutions designed to support inventory acquisition and drive sales of Volcon's cutting-edge products. By facilitating dealer access to affordable financing, Volcon aims to expand its market presence and ensure that customers nationwide can experience the next generation of off-road adventure with the Company's electric vehicles. 'We are excited to offer this floor plan program to our dealer network, which will empower them to grow their businesses while helping accelerate the adoption of our all-electric off-road vehicles,' said John Kim, CEO of Volcon. 'This program reflects our commitment to strengthening dealer relationships and furthering our mission to revolutionize the powersports industry with sustainable, high-performance electric vehicles.' The new floor plan program is a significant step in Volcon's strategy to scale its operations and support its growing network of dealers as they meet increasing demand for Volcon's innovative electric powersports offerings. 'We're proud to partner with Volcon in supporting their innovative approach to the powersports market,' said Steve Wilcoxon, president of Dealer Direct Financial. 'Our floor plan program is designed to give dealers the flexibility and access they need to meet customer demand and grow their businesses. By offering tailored financing solutions, we're helping bring Volcon's electric off-road vehicles to more showrooms-and more riders-across the country.' About Volcon Based in the Austin, Texas area, Volcon was founded as the first all-electric power sports company producing high-quality and sustainable electric vehicles for the outdoor community. Volcon electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience. Volcon's vehicle roadmap includes both motorcycles and UTVs. Its first product, the innovative Grunt, began shipping to customers in late 2021 and combines a fat-tired physique with high-torque electric power and a near-silent drive train. The Volcon Grunt EVO, an evolution of the original Grunt with a belt drive, an improved suspension, and seat, began shipping to customers in October 2023. The Brat is Volcon's first foray into the wildly popular eBike market for both on-road and off-road riding and is currently being delivered to dealers across North America. In 2024, Volcon entered the rapidly expanding LUV and UTV market and shipped its first production MN1 unit in October 2024. The new MN1 and HF1 products empower the driver to explore the outdoors in a new and unique way that gas-powered units cannot. They offer the same thrilling performance of a standard LUV / UTV without the noise (or pollution), allowing the driver to explore the outdoors with all their senses. Volcon Contacts For Media: media@ For Dealers: dealers@ For Investors: investors@ For Marketing: marketing@ For more information on Volcon or to learn more about its complete eBike, motorcycle and side-by-side line-up, visit: For more information about First Community Bank's Dealer Direct program, call 870-376-7123 or visit Forward-Looking Statements Some of the statements in this release referenced in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, whether floor plan program will increase dealer purchases of Volcon products. 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 and Current Reports on Form 8-K filed with the SEC, which are available on the SEC's website, About Dealer Direct Financial Dealer Direct Financial is a department of First Community Bank, headquartered in Batesville, Arkansas. The program was established in 2005 in response to a need among local manufacturers for floor plan and retail financing solutions. Since its inception, Dealer Direct Financial has experienced significant growth and now services thousands of dealers nationwide. The program offers specialized financing for manufacturers, including floor plans and retail installment loans for tractors (up to 75hp), trailers, boats, powersports, motorcycles, lawn equipment, and farm equipment. About First Community Bank First Community Bank, which is locally owned and managed, opened August 4, 1997, in Batesville, Arkansas, and currently operates in 34 locations across Arkansas and Missouri. First Community Bank employs 600 professional bankers, and reports assets of $3.09 billion as of March 31, 2025. SOURCE: Volcon, Inc. View the original press release on ACCESS Newswire
Yahoo
10-03-2025
- Automotive
- Yahoo
Volcon Announces Board Authorization of $2 Million Share Repurchase Program and Reiterates Current Cash Balance
AUSTIN, TX / / March 10, 2025 / On March 7, 2025, Volcon ePowersports ("Volcon" or the "Company") (NASDAQ:VLCN), a provider of electric vehicles today announced that its Board of Directors has authorized a share repurchase program, allowing for the repurchase of up to $2 million of the Company's common stock through March 7, 2026. "The Board's decision to authorize a share repurchase program of up to $2 million reflects our confidence in the Volcon's long-term vision as we have transitioned the Company to its new products, the HF1 and MN1 Tradesman UTVs and the MN1 Adventurer golf cart, and entered into golf cart distribution agreements", commented John Kim, CEO. The Company has $19.1 million of unrestricted cash on hand as of March 7, 2025, and with the cash expected to be generated from operations during 2025, the Company expects to have sufficient funds to operate into 2026. Under the authorization, Volcon may repurchase shares at its discretion from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions and compliance with applicable legal requirements. Repurchases may be made through open market transactions or other methods as permitted by securities laws and regulations, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The share repurchase program does not obligate Volcon to acquire any specific number of shares and may be modified, suspended, or discontinued at any time at the Company's discretion. About Volcon Based in the Austin, Texas area, Volcon was founded as the first all-electric power sports company producing high-quality and sustainable electric vehicles for the outdoor community. Volcon electric vehicles are the future of off-roading, not only because of their environmental benefits but also because of their near-silent operation, which allows for a more immersive outdoor experience. Volcon's vehicle roadmap includes both motorcycles and UTVs. Its first product, the innovative Grunt, began shipping to customers in late 2021 and combines a fat-tired physique with high-torque electric power and a near-silent drive train. The Volcon Grunt EVO, an evolution of the original Grunt with a belt drive, an improved suspension, and seat, began shipping to customers in October 2023. The Brat is Volcon's first foray into the wildly popular eBike market for both on-road and off-road riding and is currently being delivered to dealers across North America. In 2024, Volcon entered the rapidly expanding LUV and UTV market and shipped its first production MN1 unit in October 2024. The new MN1 and HF1 products empower the driver to explore the outdoors in a new and unique way that gas-powered units cannot. They offer the same thrilling performance of a standard LUV / UTV without the noise (or pollution), allowing the driver to explore the outdoors with all their senses. Volcon Contacts For Media: media@ Dealers: dealers@ Investors: investors@ Marketing: marketing@ For more information on Volcon or to learn more about its complete eBike, motorcycle and side-by-side line-up, visit: Forward-Looking Statements Some of the statements in this release referenced in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, how many vehicles will be sold, whether expected cash generated from operations and cash on hand will allow the Company to operate into 2026 and whether the total amount authorized by the Board of Directors will be used to repurchase shares. 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 and Current Reports on Form 8-K filed with the SEC, which are available on the SEC's website, SOURCE: Volcon, Inc. View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
14-02-2025
- Automotive
- Yahoo
Vehicle manufacturer unveils next-gen offroad model with serious power — here's how you can get your hands on one
The electric utility task vehicle (UTV) market is a growing one, but it's not without its hurdles. One of the biggest of those hurdles is the average electric UTV's relative lack of power compared to its gas-powered counterparts. Fortunately, Volcon ePowersports is looking to change that with its next-gen Volcon HF1. Regardless of a UTV's particular function in your life, less power means less of what you're looking for. It's fair, then, to have trouble switching to electric if you're going to be losing power. With the Volcon HF1, the switch should require a lot less contemplation. These electric offroaders are elevating what electric power can do. At an average speed of 25 miles per hour, they offer up to 50 miles per charge. The top speed, however, is 50 mph, making them a lot more comparable to the average gas-powered UTV (45-60 mph) than previous models. If you were going to purchase an EV, which of these factors would be most important to you? Cost Battery range Power and speed The way it looks Click your choice to see results and speak your mind. Volcon's website highlights the broad versatility of its new UTVs. Whether you're using yours for work or play, the company's aim is to provide you with all you need. That includes some premium features, like a push-start ignition, a 13-inch LCD display, and Bluetooth connectivity. So, how can you get one? Well, according to the website, the Volcon HF1 is in limited supply at the moment. You'll need to contact the company directly to learn more. The all-electric UTV has just been rolled out in the U.K., too, so reach out if you're looking for an offroader that drives on the left side of the terrain. This new UTV is great news for those looking to switch to electric. Beyond the amazing benefits of less pollution and more sustainability, an electric UTV has a ton to offer. No gas means more money in your pocket, and less maintenance means that, plus fewer headaches. You can get your work done or just have some fun while protecting both the environment and your bank account. In a recent press release, Volcon CEO John Kim summed it up perfectly: "The HF1 is a game-changer in the industry, providing users with an incredibly powerful, eco-friendly alternative that doesn't sacrifice performance." Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
